In a critical period of upheaval, Dr. Reichenberger has been a key player in a body crucial to the regulatory development of the Swiss capital market. Peter E. Merian, Chairman of the Admission Board, accepts his resignation with regret and thanks him for all of his hard work on behalf of the SWX.
Hermann Wirz, Senior Vice President and Head of Group Accounting and Reporting at Nestlé AG, Vevey, will succeed Dr. Reichenberger on the Admission Board with effect from 1 January 2006.