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GLOBAL INVESTOR FOCUS<br />

Imprint—36<br />

This document was produced by and the opinions expressed are those of Credit Suisse as of<br />

the date of writing and are subject to change. It has been prepared solely for information<br />

purposes and for the use of the recipient. It does not constitute an offer or an invitation by or<br />

on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past<br />

performance is not necessarily a guide to the future. The information and analysis contained<br />

in this publication have been compiled or arrived at from sources believed to be reliable but<br />

Credit Suisse does not make any representation as to their accuracy or completeness and<br />

does not accept liability for any loss arising from the use hereof. The issuer of the securities<br />

referred herein or a Credit Suisse Group company may have acted upon the information and<br />

analysis contained in this publication before being made available to clients of Credit Suisse.<br />

A Credit Suisse Group company may, to the extent permitted by law, participate or invest in<br />

other financing transactions with the issuer of the securities referred herein, perform services<br />

or solicit business from such issuers, and/or have a position or effect transactions in the securities<br />

or options thereof.<br />

An investment in the funds described in this document should be made only after<br />

careful study of the most recent sales prospectus and other fund regulations and basic legal<br />

information contained therein. The sales prospectuses and other fund regulations may be<br />

obtained free of charge from the fund management companies and/or from their agents.<br />

Alternative investments, derivative or structured products are complex instruments, typically<br />

involve a high degree of risk and are intended for sale only to investors who are capable of<br />

understanding and assuming the risks involved. Investments in Emerging Markets are speculative<br />

and considerably more volatile than investments in established markets. Some of the<br />

main risks are Political Risks, Economic Risks, Credit Risks, Currency Risks and Market Risks.<br />

Furthermore, investments in foreign currencies are subject to exchange rate fluctuations.<br />

Before entering into any transaction, you should consider the suitability of the transaction to<br />

your particular circumstances and independently review (with your professional advisers as<br />

necessary) the specific financial risks as well as legal, regulatory, credit, tax and accounting<br />

consequences.<br />

Neither this document nor any copy thereof may be sent to or taken into the United States or<br />

distributed in the United States or to a US person, in certain other jurisdictions the distribution<br />

may be restricted by local law or regulation.<br />

Publisher<br />

Credit Suisse<br />

Global Research<br />

P.O. Box 300, CH - 8070 Zürich<br />

Director: Giles Keating<br />

Editor<br />

Christian Gattiker-Ericsson<br />

Sylvie Golay<br />

Editorial deadline<br />

April 2005<br />

Organization<br />

Bernhard Felder<br />

Design and concept<br />

Arnold Design AG<br />

Urs Arnold, Michael Suter, Arno Bandli,<br />

Daniel Peterhans, Benno Delvai,<br />

Monika Isler (Planning and execution)<br />

Layout<br />

gdz AG, Zürich<br />

Printer<br />

Feldegg AG, Zollikerberg<br />

Stämpfli AG, Bern<br />

Translations<br />

Robert Anderson (E), Beatrice Eigenmann (G),<br />

Mark Rabinowitz (E), Stefan Bersal (G),<br />

Regula Zweifel (G), Andreas Weber (G),<br />

Übersetzer Gruppe Zürich (F/Sp)<br />

Alleva Übersetzungen (I)<br />

Language editors<br />

Robert Anderson (E), Beatrice Eigenmann (D),<br />

Übersetzer Gruppe Zürich (F/Sp),<br />

Alleva Übersetzungen (I)<br />

Photographs<br />

Bruno Barbey/Magnum (Cover), Bruno<br />

Barbey/Magnum, Gueorgui Pinkhassov/<br />

Magnum, John Vink/Magnum, David Alan<br />

Harvey/Magnum, Susan Meiselas/Magnum,<br />

Martin Parr/Magnum, Ian Berry/Magnum (3),<br />

Thomas Koehler/Photothek (5), Gee Ly (6),<br />

Rainer Heubeck/Das Fotoarchiv (15),<br />

Martin Stollenwerk (21, 22, 26)<br />

This document may not be reproduced either in whole, or in part, without the written permission<br />

of Credit Suisse. © 2005, Credit Suisse<br />

Copies of this publication may be ordered<br />

via your customer advisor; employees contact<br />

Netshop directly<br />

This publication is available on the Internet at:<br />

www.credit-suisse.com/research/<br />

Intranet access for employees of the Credit<br />

Suisse Group: http://research.csintra.net<br />

International Research support is provided by<br />

Credit Suisse Private Banking’s global network<br />

of representative offices.

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