FORMER CREDIT SUISSE INVESTMENT BANKER CONVICTED
ON 29 COUNTS IN INSIDER TRADING CASE

Illegal Trading In Connection With Nine Credit Suisse Client
Transactions Netted $7.8 Million In Proceeds

MICHAEL J. GARCIA, the United States Attorney for the Southern District of New York, announced today that HAFIZ MUHAMMED ZUBAIR NASEEM, a 37-year-old resident of Westchester County, New York, was convicted of 29 counts of insider trading following a 3-week jury trial in Manhattan federal court. NASEEM was charged with a scheme whereby he stole material, nonpublic information from Credit Suisse and its clients about 9 pending mergers and acquisitions, and tipped AJAZ RAHIM, a 45-year-old resident of Pakistan, about these deals prior to their public announcement. By trading on the basis of this information in several overseas brokerage accounts, NASEEM and RAHIM netted at least $7.8 million in proceeds. According to the evidence presented at trial before United States District Judge ROBERT P. PATTERSON:

From September 2005 through March 2006, NASEEM, prior to his employment at Credit Suisse, stole confidential information from J.P. Morgan Chase and its clients regarding potential transactions in the following 8 publicly traded companies: Northwestern Corporation; Huntsman Corporation; Aramark Corporation; Education Management Corporation; Alliance Data Systems; K2 Inc.; Computer Science Systems; and Engineered Support Systems. He then passed that information along to RAHIM, who traded on it in an overseas account in Bahrain.

On March 22, 2006, NASEEM left J.P. Morgan Chase and joined Credit Suisse’s Global Energy Group in the Investment Banking Division. From April 2006 through February 2007, NASEEM stole material, nonpublic information from Credit Suisse and its clients regarding the following 9 publicly traded companies: Northwestern Corporation, Energy Partners, Ltd., Veritas DGC Inc., Jacuzzi Brands, Inc., Trammell Crow Co., Hydril Company, Caremark RX, Inc., John H. Harland Co., and TXU Corp. (these companies are collectively referred to as the “Issuers” and the securities in these companies are collectively referred to as the “Subject Securities”).

Credit Suisse was engaged to advise either the target company or the acquiring entity in connection with business combination transactions involving the Issuers (the “Subject Transactions”). NASEEM, who was not assigned to work on any of the Subject Transactions, repeatedly searched Credit Suisse’s internal computer databases for confidential documents relating to the Subject Transactions, opened and read these documents, and passed the material non-public information concerning the Subject Transactions in these documents to RAHIM (the “Credit Suisse Inside Information”). NASEEM also was observed rummaging through papers on the desks of several analysts when the analysts were not present.

NASEEM provided the Credit Suisse Inside Information to RAHIM in violation of (a) the duties of trust and confidence owed by NASEEM to Credit Suisse and its clients, and (b) Credit Suisse’s written policies, which NASEEM certified he understood, regarding the use and safekeeping of confidential and inside information.

NASEEM provided the Credit Suisse Inside Information to RAHIM in violation of (a) the duties of trust and confidence owed by NASEEM to Credit Suisse and its clients, and (b) Credit Suisse’s written policies, which NASEEM certified he understood, regarding the use and safekeeping of confidential and inside information.

NASEEM was found guilty of all 29 counts in the Indictment. The conspiracy charge carries a maximum sentence of 5 years’ imprisonment and a maximum fine of the greater of regarding the use and safekeeping of confidential and insideinformation.

$250,000 or twice the gross gain or gross loss from the offense. Each of the twenty-eight securities fraud counts carries a maximum sentence of 20 years’ imprisonment and a maximum fine of the greater of $5 million or twice the gross gain or gross loss from the offense.

Following the verdict, Judge PATTERSON revoked NASEEM’s bail, and NASEEM was remanded into prison. NASEEM is scheduled to be sentenced on April 7, 2008 at 4:00 p.m.

A warrant for RAHIM’s arrest remains outstanding.

Mr. GARCIA praised the efforts of the FBI and the U.S. Securities and Exchange Commission in the investigation of this case. Mr. GARCIA also thanked Credit Suisse for its cooperation and assistance.

Assistant United States Attorneys JOSHUA KLEIN and REED MICHAEL BRODSKY are in charge of the prosecution. 08-28

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