Zurich,  August 16, 2012Credit Suisse Group today provided an update on two of its capital actions that were announced on July 18, 2012. The execution of the exchange offer for deferred compensation awards (APPA) and the tender offer to repurchase certain outstanding public capital and senior funding instruments generated estimated incremental Basel III common equity of CHF 930 million in respect of 2012. This exceeds the CHF 800 million target included for these two measures in the capital plan announced on July 18, 2012.

On July 18, 2012, Credit Suisse announced a set of targeted capital measures that are expected to strengthen its capital by CHF 15.3 billion in preparation for the Basel III regulatory framework. The immediate measures, including the accelerated exchange of existing hybrid instruments into Buffer Capital Notes and the issuance of mandatory and contingent convertible securities (MACCS), increased capital by CHF 8.7 billion. In the case of the MACCS issue, shareholders and investors exercised over 96.6% of rights, as previously announced.

On July 18, 2012, Credit Suisse also announced an expected additional CHF 6.6 billion benefit by year end 2012 from further capital actions and earnings-related impacts.

These further actions included a voluntary exchange offer, under which employees were offered the opportunity to invest any future cash payments from the Adjustable Performance Plan Awards (APPA) into shares. The offer resulted in a benefit to Basel III common equity of CHF 550 million estimated in respect of full year 2012. This represents a conversion rate of approximately 50%.

Furthermore, Credit Suisse also announced a tender offer to repurchase certain outstanding public capital and senior funding instruments. The tender offer, in combination with additional repurchase transactions, achieved security repurchases in the amount of CHF 4.8 billion, resulting in an immediate Basel III common equity benefit of CHF 380 million.

The execution of both measures generated estimated incremental Basel III common equity of CHF 930 million in respect of 2012. This exceeds the CHF 800 million target included for these two measures in the capital plan announced on July 18, 2012.

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Credit Suisse AGCredit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 48,200 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

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- our success at managing the risks involved in the foregoing.
We caution you that the foregoing list of important factors is not exclusive. When evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and events, as well as the information set forth in our Annual Report 2011 under "Risk factors" in the Appendix.

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