PRESS RELEASE
Media Relations
[LOGO]
CREDIT SUISSE GROUP
P.O. Box 1
CH-8070 Zurich
Telephone +41-1-333 8844
Fax +41-1-333 8877
Credit Suisse Group extends Tender Offer
for Donaldson, Lufkin & Jenrette
Zurich and New York, 9 October 2000 - Credit Suisse Group today announced that
the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of
1976, as amended, for Credit Suisse Group's offer to acquire all outstanding
shares of common stock of the series designated Donaldson, Lufkin & Jenrette,
Inc. - DLJ common stock of DLJ (DLJ Shares) has expired and that it has also
received clearance from the European Commission under the EC Merger Regulation.
Credit Suisse Group is extending its offer to acquire all outstanding DLJ Shares
to 12:00 midnight, New York City time, on 2 November 2000. The offer, which was
previously scheduled to expire at 12:00 midnight, New York City time, on 11
October 2000, is being extended for technical reasons to help facilitate an
orderly integration and month-end closing, and the extension is not the effect
of market conditions. The related stock purchase agreement with AXA and its
affiliates is expected to close on 3 November 2000.
Allen Wheat, Chief Executive Officer of Credit Suisse First Boston, stated, "I'm
very pleased with the pace of the integration process to date," and noted, "the
transaction is scheduled to close significantly sooner than other comparable
transactions."
Based on the latest count of tendered DLJ Shares, approximately 43,310,798 DLJ
Shares have been tendered and not withdrawn pursuant to the offer, representing
approximately 31% of the outstanding DLJ Shares and 86% of the DLJ Shares held
by persons other than AXA and its affiliates.
As a consequence of the extension of the expiration date, holders of DLJ Shares
may tender or withdraw shares until 12:00 midnight, New York City time, on 2
November 2000, unless the offer is further extended.
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A copy of a letter amendment relating to the extension entered into between
Credit Suisse Group and DLJ, together with a related letter amendment to the
stock purchase agreement between Credit Suisse Group and AXA and its affiliates,
will be filed as exhibits to an amendment to the Tender Offer Statement on
Schedule TO filed by Credit Suisse Group.
Inquiries
Media Relations Telephone +41-1-333 8844 Fax +41-1-333 8877
Investor Relations Telephone +41-1-333 4570 Fax +41-1-333 2587
Internet http://www.credit-suisse.com
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IMPORTANT LEGAL INFORMATION
The foregoing is qualified in its entirety by reference to the Tender Offer
Statement on Schedule TO, as amended, filed by Credit Suisse Group which
contains important information about the tender offer. Investors can obtain such
Tender Offer Statement on Schedule TO, as amended, and other filed documents,
for free from the U.S. Securities and Exchange Commission website
http://www.sec.gov.
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