BvS files claim with the District Court of Zurich - Julius Baer contests the claim and has taken measures to defend its interests

Zurich, 15 September 2014 - After having received payment orders ('Zahlungsbefehle') by the Bundesanstalt für vereinigungsbedingte Sonderaufgaben ('BvS'), the German authority responsible for managing the assets of the former German Democratic Republic ('GDR'), in the amount of approximately CHF 110 million plus accrued interest since 2009 (as previously reported), BvS has now filed a claim with the District Court of Zurich.

The amount now claimed is approximately CHF 100 million plus accrued interest since 1994 (subject to certain limitations). BvS claims that the former Bank Cantrade Ltd., which Bank Julius Baer & Co. Ltd. acquired through its acquisition of Bank Ehinger & Armand von Ernst AG from UBS AG in 2005, allowed between 1989 and 1992 unauthorised withdrawals from the account of a foreign trade company established by former officials of the GDR.

The Bank is contesting the claims of BvS and has taken measures to defend its interests. In addition, the claim has been notified under representations and warranties obtained from the Seller of Bank Cantrade Ltd. as per the respective transaction agreement from 2005.

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About Julius Baer

Julius Baer is the leading Swiss private banking group with a focus on servicing and advising sophisticated private clients and a premium brand in global wealth management. Julius Baer's total client assets amounted to CHF 372 billion at the end of June 2014, including CHF 274 billion of assets under management. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and form part of the Swiss Market Index (SMI), comprising the 20 largest and most liquid Swiss stocks.

Julius Baer is currently in the final phase of integrating Merrill Lynch's International Wealth Management business outside the US. This will increase the Group's presence to more than 25 countries and 50 locations. Headquartered in Zurich, we have offices in key locations including Dubai, Frankfurt, Geneva, Hong Kong, London, Lugano, Monaco, Montevideo, Moscow, Singapore and Tokyo.

For more information visit our website at www.juliusbaer.com




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