Snapshot on China

Credit Suisse
Asia Pacific Investor Forum
Hong Kong
April 2, 2007

Liping Zhang, Country Head China

Cautionary statement

Cautionary statement regarding forward-looking and non-GAAP information

This presentation contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995.
Forward-looking statements involve inherent risks and uncertainties, and we might not be
able to achieve the predictions, forecasts, projections and other outcomes we describe
or imply in forward-looking statements.
A number of important factors could cause results to differ materially from the plans,
objectives, expectations, estimates and intentions we express in these forward-looking
statements, including those we identify in "Risk Factors" in our Annual Report on Form
20-F for the fiscal year ended December 31, 2006 filed with the US Securities and
Exchange Commission, and in other public filings and press releases.
We do not intend to update these forward-looking statements except as may be required
by applicable laws.
This presentation contains non-GAAP financial information. Information needed to
reconcile such non-GAAP financial information to the most directly comparable measures
under GAAP can be found in Credit Suisse Group's Quarterly Report 2006/Q4.

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 2
China – Phenomenal economic growth

2006 Nominal and Real PPP adjusted GDP Historical and projected Real GDP CAGR
(USD bn)

13,235 13,626 9.9%

8.8%
10,715
9,887
8,166

2.8% 2.6%
2,681 2.1%
1.5%

US EU15 China US EU15 China

2006 Nominal GDP 2006 Real PPP GDP 2001-2005 GDP CAGR 2006-2010 Projected GDP CAGR

China’s GDP is rapidly catching up with U.S. and Europe

Source: Economist Intelligence Unit

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 3
Growth of market capitalization in A, B and H shares

Market Caps (in USD bn)

3,000

CAGR
18%
2,000

1,000

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006

Hong Kong Stock Exchange

Shanghai and Shenzhen Stock Exchange

Sources: Standard & Poors: Global Stock Markets Factbook

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 4
Domestic capital market is growing rapidly…

Domestic market capitalization A-share Market Turnover

(USD bn) (USD bn)

CAGR
2,259 21% 1,581
1,163
CAGR
22%
352

1,145 2002 2006 2010E

Indexed Stock Market Performance

463 300
China Shanghai
250

200

150 Hang Seng

2002 2006 2010E
Dow Jones 30
100 MSCI Asia
Nikkei 225
Mkt cap / 50
32% 44% 50% 1/1/06 3/30/06 6/27/06 9/22/06 12/22/06 3/21/07
GDP

Source: CS research, SDC, FactSet

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 5
Credit Suisse “One Bank” China footprint

In China for more than half a century

1955: Started correspondent banking relationship with
Bank of China
1985: Opened a bank representative office in Beijing
1993: Opened Beijing Securities Representative Office

Beijing 1994: Opened Shanghai Bank Branch

1998: Shanghai Bank Branch received approval to engage
in RMB business
2003: Approved as a QFII (current quota of USD500m)
2004: Shanghai Branch received Derivatives License
Shanghai
2005: Opened Shanghai Securities Representative Office
Opened Guangzhou Bank Representative Office
Launched asset management JV with ICBC
Guangzhou China Renaissance Capital formed in the Cayman
Islands focusing on Chinese private equity
investments
CS Securities Representative Office 2006: Shanghai Branch approved as a QDII (a quota of
CS Bank Representative Office USD300m granted in 2007)

CS Bank Branch

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 6
Delivering “One Bank” capabilities

Increased cross-divisional integration yields substantial new business in China

“One Bank” structure Volume of successful referrals in 2006

Country
Manager

33%
PB IB
67%

Investment Private Asset

Banking Banking Management

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 7
Strong performance in China

Indexed Total Revenue growth

Index
300

CAGR
67%
200

100

2004 2005 2006

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 8
China client centricity

Access to international expertise and networks

Local knowledge and customized local delivery

Long-term commitment

Integrated Bank approach

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 9
Leading equity house – strong platform for One Bank
business

2006 Best Equity House

ICBC
ICBC CCB
CCB CNOOC
CNOOC Home
Home Inn
Inn New
NewOriental
Oriental in China
US$22
US$22 BN
BN US$9.2
US$9.2 BN
BN US$2.0
US$2.0 BN
BN US$125
US$125 MN
MN US$129
US$129 MN MN

Initial
Initial
InitialPublic
PublicOffering
Offering 1 Bookrunner of Industrial &
InitialPublic
PublicOffering
Offering Initial
InitialPublic
PublicOffering
Offering Block
Block Trade
Trade Initial
InitialPublic
PublicOffering
Offering Sole
SoleGlobal
Global Coord.
Coord.//
Joint
JointBookrunner
Bookrunner Joint
JointBookrunner
Bookrunner Joint
JointBookrunner
Bookrunner Joint
JointBookrunner
Bookrunner Joint
JointBookrunner
Bookrunner Commercial Bank of China in
2006, largest IPO ever (US$22bn)
October
October2006
2006 October
October2005
2005 April
April2006
2006 October
October2006
2006 September
September 2006
2006

1 Bookrunner of China
Focus Media
Melco PBL
US$859 MM
Construction Bank, largest IPO in
US$1.3BN US$455
US$416 MM 2005 (US$9.2bn)
Block Trade US$455 MM
MM US$124
US$124 MM
MM Follow-on
Joint Global
Initial Public Offering Sole Bookrunner Initial
InitialPublic
PublicOffering
Offering Initial
InitialPublic
PublicOffering
Offering Coordinator Joint
Joint Bookrunner Joint
JointBookrunner
Bookrunner Joint
JointBookrunner
Bookrunner Bookrunner
1 Bookrunner of Shanghai Electric
December 2006 November 2006 December
December2005
2005 August
August 2005
2005 June 2006 in 2005, largest sole-bookrun IPO
in China since 1997 (US$648m)

Hopson
Hopson China Power Shanghai
Shanghai Electric
Electric Ming An
US$195 MM US$187
US$187 MMMM 1 CNOOC Ltd. follow-on offering of
US$350
US$350 MMMM US$224 MM US$648
US$648 MM
MM Initial Public Offering Initial
InitialPublic
PublicOffering
Offering US$ 1.98 bn in 2006 – Largest
Fixed
Fixed Rate
Rate Notes
Notes due
due Block Trade Sole
SoleGlobal
Global
2012
2012 non-call
non-call 2009
2009 Initial
InitialPublic
PublicOffering
Offering
Sole Global
Coordinator
Coordinator secondary offering by a red-chip
Sole Bookrunner Coordinator
Bookrunner
Bookrunner Sole
SoleBookrunner
Bookrunner Bookrunner
&&Bookrunner
Bookrunner company ever
November
November2005
2005 November 2006 April
April2005
2005 December 2006 April
April2006
2006

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 10
Successful fixed income franchise

First-ever Securitization of non-performing loans in China (April 2004)

1st dual currency mortgage loan to Morgan Stanley Real Estate Fund in August 2005

Largest commercial real estate loan in China by a foreign lender in 2006

Dominant in interbank bond and repo market amongst foreign banks and a leading
derivatives player

One of the first foreign banks to receive Derivatives Licence in 2004, and is now
approved to engage in RMB FX FWDs, FX swaps, RMB IRS and a variety of structured
investment products

One of the first foreign banks to offer derivative products to the Chinese government
and corporates

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 11
Leading M&A practice

Domestic Deals Cross-Border Deals

Haier Group
US$193 million
Reverse Takeover of
Haier-CCT Holdings Ltd.
through asset injection of
washing machine and mobile
business of Haier Group
Financial Advisor
US$1,900 million
Guangshen Railway Not disclosed EUR400 million Sale of Kazakhstan assets to US$100 million
Sale of silicones business to Sale to
US$1.2 billion
Acquisition of China
Yang Cheng Railway Company Financial Advisor Financial Advisor Financial Advisor Financial Advisor

2005 2005 2007 2006 2006 2006

China Netcom Corp US$325 million

US$300 million US$180 million EUR400 million US$200 million
US$1.4 billion acquisition of Acquisition of Acquisition of Acquisition of Acquisition of Acquisition of
assets in 4 provinces

Independent Financial
Advisor Financial Advisor Exclusive Financial Advisor Financial Advisor Financial Advisor Financial Advisor

2005 2005 2006 2006 2006 2005

Cross border transactions are becoming increasingly important to

our M&A franchise in China

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 12
CRCI: A Unique Investment Platform to Access China’s
Growth

China Harvest Fund China Spring Fund

ƒ Largest China-focused expansion / ƒ Early stage/venture-focused fund
growth capital fund
ƒ Invest to support new ideas and
ƒ Invest to support growth and expansion business initiatives

ƒ Two teams of investment professionals based in Hong Kong

ƒ Target to invest more than a billion dollars in China over 5 years
ƒ A focus on funding entrepreneurship

A focused strategy that has multiple initiatives

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 13
One Bank Case Study - AM JV with ICBC
ICBC is an illustrative example of a mutually rewarding partnership delivering on
clients needs across all divisions

Asset Management JV International IPO

NPL Securitization QFII*

Trade Finance Private Banking

Fixed Income
Equity Products
Products

Derivatives Training Programs

QFII: Qualified Foreign Institutional Investor

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 14
One Bank Case Study - Qualified Domestic Institutional
Investors (QDII) – Client coverage strategy

Investment Private
Banking Banking
Leverage IB relationships Leverage PB relationships
ƒ Fund managers ƒ Foreign funded
ƒ Brokerages enterprises and local
ƒ Commercial banks SMEs

Asset
Management
Leverage AM JV partnership

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 1
Strategic focus: 2007 and beyond

ƒ Leverage Shanghai branch to develop onshore business and explore other onshore
opportunities
Private ƒ Leverage existing Guangzhou and Beijing offices to develop and maintain client
Banking relationships

ƒ Build on momentum as one of the most profitable China investment banking

franchises
Investment ƒ Maintain leadership in ECM
Banking ƒ Strengthen M&A, HY, RMB, DMR and structured lending
ƒ Continue to leverage derivatives license of Shanghai branch
ƒ Develop domestic securities capabilities
ƒ Continue to leverage JV with ICBC
ƒ Develop QDII and QFII product and distribution opportunities
Asset
Management ƒ Pursue mandate business from China corporates and pension clients
ƒ Further develop private equity franchise

Premier client-focused integrated bank

Credit Suisse Asia Pacific Investor Forum

Snapshot on China – Slide 16
Credit Suisse Asia Pacific Investor Forum
Snapshot on China – Slide 17