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Only IFRS or US GAAP on Swiss Stock Exchange starting 2005

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01 Aug 2003

Starting with annual reports for 2005 and interim reports for 2006, all Swiss companies whose equity shares are listed on the main board of the Swiss Exchange will be required to prepare their financial statements using either IFRS or US GAAP.

Swiss GAAP will not be permitted. Foreign listed companies may continue to use a national GAAP that the Exchange deems to be equivalent to IFRS or US GAAP. The main board lists the shares of approximately 290 Swiss and 130 non-Swiss companies.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.