Detail Media release

45th Ordinary Annual General Meeting of VP Bank

Vaduz, April 25, 2008 – At today’s annual general meeting, all board proposals were approved.

The 751 shareholders in attendance voted in favor of all motions put forward by the Board of Directors of VP Bank and granted release to its members, the Group Executive Management and the statutory and Group auditors.
The excellent 2007 financial year bestowed VP Bank’s shareholders with yet another increase in the dividend. The Board’s motion to distribute a dividend of CHF 11 per bearer share and CHF 1.10 per registered share was approved.

New member of the Board of Directors

The shareholders of VP Bank reelected directors Prof. Dr. Beat Bernet and Walo Frischknecht to a further three-year term of office.

After twelve years on the Board of Directors, Dr. Matthias Donhauser opted not to stand for reelection. VP Bank would like to express its thanks to Dr. Donhauser for his legal competence, broad experience in the fields of financial services and international commercial law, as well as his commitment to the Bank’s future-oriented business location policy.

Shareholders elected Dr. Daniel H. Sigg (51 years of age and a Swiss citizen) to the Board of Directors. Dr. Sigg resides in New York, where he has held various positions at American and Swiss investment and asset management companies. Since 2006, he has been a Principal of DHS International Advisors LLC, a consulting firm specializing in the financial services industry. A Doctor of Law, he brings with him more than 20 years of experience in global banking with a primary focus on international asset management.

During those years, he performed key management functions in the expansion, reorganization, acquisition and integration of various business entities. He is highly familiar with the financial centers in the USA, Europe and Asia, and is a board member of Mattern Pharmaceuticals AG, Stans, and the Bellevue Group AG, Zurich.

Hans Brunhart, Chairman of the Board of Directors of VP Bank: «We consider ourselves fortunate that, with the election of Dr. Sigg, the significance of the new markets for VP Bank has also gained expression, a factor that will also have a increasingly formative influence on the activities of the Board of Directors.»

Ernst & Young AG was elected for a further one-year term as statutory and Group auditors

Dynamic remains strong

VP Bank had an outstanding 2007 financial year. Yet again, the Bank’s targets for client assets under management, profitability and shareholders’ equity were clearly exceeded.

Adolf E. Real, Chief Executive Officer of VP Bank Group: «Going forward, we will continue to pursue our ambitious goals. VP Bank’s growth in assets under management, high level of profitability, position as one of the best among the Swiss and Liechtenstein private banks, highly disciplined cost management and candidacy for the Swiss quality award ESPRIX 2011 are at the center of all our activities.»