GLOBAL INVESTOR 2.05 Imprint—50 This document was produced by <strong>and</strong> the opinions expressed are those of Credit Suisse as of the date of writing <strong>and</strong> are subject to change. It has been prepared solely for information purposes <strong>and</strong> for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information <strong>and</strong> analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness <strong>and</strong> does not accept liability for any loss arising from the use hereof. 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Alternative investments, derivative or structured products are complex instruments, typically involve a high degree of risk <strong>and</strong> are intended for sale only to investors who are capable of underst<strong>and</strong>ing <strong>and</strong> assuming the risks involved. Investments in Emerging Markets are speculative <strong>and</strong> considerably more volatile than investments in established markets. Some of the main risks are Political Risks, Economic Risks, Credit Risks, Currency Risks <strong>and</strong> Market Risks. Furthermore, investments in foreign currencies are subject to exchange rate fluctuations. Before entering into any transaction, you should consider the suitability of the transaction to your particular circumstances <strong>and</strong> independently review (with your professional advisers as necessary) the specific financial risks as well as legal, regulatory, credit, tax <strong>and</strong> accounting consequences. 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Box 300, CH - 8070 Zürich Director: Giles Keating Editor Ulrich Kaiser Editorial deadline April 2005 Organization Bernhard Felder Design <strong>and</strong> concept Arnold Design AG Urs Arnold, Daniel Peterhans, Georgina Balint, Renata Hanselmann, Benno Delvai, Andrea Studer, Monika Isler (Planung und Durchführung) Layout gdz AG, Zürich Silvia Büttel, Barbara Häne, Franziska Moser Printer Feldegg AG, Zollikerberg Stämpfli AG, Bern Translations Robert Anderson (E), Beatrice Eigenmann (G), Mark Rabinowitz (E), Stefan Bersal (G), Regula Zweifel (G) Andreas Weber (G), Übersetzer Gruppe Zürich (F/Sp) Alleva Übersetzungen (I) Language editors Robert Anderson (E), Beatrice Eigenmann (D), Übersetzer Gruppe Zürich (F/Sp), Alleva Übersetzungen (I) Photographs Chris Hellier/CORBIS (Cover), Mathias Hofstetter (5, 6), John Lamb/Stone (5), Joe Polillio/Stone (5), Photodisc (9, 13, 15, 22, 33), Stephen Stickler/taxi (11), Ciba Spezialitätenchemie AG (13), BASF (15), Oscar White/CORBIS (15), Drs A. Yazdani & D. J. Hornbacker/ Science Photo Library (15), Jeff Albertson/CORBIS (22), Imagedirekt (22), Michael Keller/CORBIS (22), Spencer Jones/PictureArts/CORBIS (22), Toyota (28), Martyn Goddard/CORBIS (28), Patti McConville/ The Image Bank (28), Jonathan Kantor/The Image Bank (28), Nokia (33), Siemens (33), Corbis (33), Burke/ Triolo (33), Ton Kinsbergen/Scienc Photo Library (33), Eye of Science/Scienc Photo Library (34), Hitachi (34), Peter Menzel/Scienc Photo Library (34), Alfred Pasieka/ Science Photo Library (34), T Com Haus (36), Janis Christie/photodisc (42), Sven Doering/VISUM (42), Ph. Hympendahl/Das Fotoarchiv (42), Ute Mahler/ Ostkreuz (42), Oliver Mark/Agentur Fcus (42), Monika Nikolic/artur (42), Barbara Staubach/artur (42), S. Sudek/unlike by STOCK4B, Ryan McVay/photodisc (42), Martin Stolenberg (48) Copies of this publication may be ordered via your customer advisor; employees contact Netshop directly This publication is available on the Internet at: www.credit-suisse.com/research/ Intranet access for employees of the Credit Suisse Group: http://research.csintra.net International Research support is provided by Credit Suisse Private Banking’s global network of representative offices.
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