Press Release

13 December 2006 The Securities and Exchange Surveillance Commission

(Provisional Translation)

A disciplinary action has been taken by the HKSFC against a trader of Credit Suisse (Hong Kong) for breaching the Code of Conduct involving the Japanese securities market

1. The Securities and Futures Commission of Hong Kong (hereinafter referred to as the ''HKSFC'') announced today that it had taken disciplinary action against Mr. Stephan Hug (hereinafter referred to as ''Hug''), a resident in Hong Kong and a trader of Credit Suisse (Hong Kong) Limited for breaching the Code of Conduct involving securities traded in the Japanese market. The disciplinary action by the HKSFC has come as a result of close cooperation between the HKSFC and the Japanese Securities and Exchange Surveillance Commission (hereinafter refer to ''SESC''), based on a request from the SESC.  2.  Outline of the case (1)Sumitomo Light Metal Industries Limited (hereinafter referred to as ''SLM'') made an announcement of a new SLM convertible bond issuance after market close on 2 December 2003. Hug received the above information and sold the SLM shares prior to the public announcement. (2)The HKSFC has concluded that Hug's conduct constituted a breach of the Code of Conduct for licensed persons. The HKSFC has suspended Hug for four months from 13 December 2006 to 12 April 2007. 3.  This case is a fruitful result of international cooperation to address misconducts caused by cross-border transactions, and the SESC appreciates the cooperation of the HKSFC. The SESC is determined to address market misconducts involving the Japanese securities markets, regardless of whether it would be conducted by residents or non-residents, and to further enhance cross-border cooperation with foreign authorities for the purpose of market integrity.

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