ValiantA successful player in the domestic Swiss market Valiant skuteczny gracz narynku wewnętrznym

Michael Hobmeier, CEO Valiant Bank

Warsaw, 8th October 2008

Valiant Bank AGBundesplatz 43001 BernSwitzerland www.valiant.ch

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Agenda

The Swiss retail banking market

Valiant company presentation

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Players in the Swiss retail banking marketThe "big" banks UBS and Credit Suisse together account for more than 50% of the balance sheet total.

Cantonal banks The 24 Cantonal banks are semi-governmental organizations. Most of them have a state guarantee.

Raiffeisen Group

Raiffeisen is a group of cooperative societies and has the largest branch network in Switzerland.

Regional banks Smaller universal banks with an emphasis on lending/deposit business. Valiant is clearly the biggest of these banks.

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Swiss Loan-to-Value standard

Loan–to–Value Maximum 1st Mortgage

- Residential 80% 66%

- Commercial 70% 50%

2nd Mortgage 14%

Equity20%

1st Mortgage 66%

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Can you afford your home?

1) 1% of Value2) 2nd Mortgage to be amortized3) Mortgage interest (currently 4.5%)

NebenverdienstOther Income

3) Interest

Main Income

2) Amortisation

1) Extra charges

Total Income Housing costs

max. 35%

100%

Can you afford your home?

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Valiant Group

Group Management and Shared Services

Wealth Management for Private and Institutional Investors• Individual private banking• Discretionary mandate

Domestic Retail Banking• Credits• Retirement plans• Payment services• Asset management

Valiant Holding AG

Valiant Bank AG

Valiant Privatbank AG

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Our clear position pays off

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Market Position Valiant

Valiant is one of the strongest players in its home market.

• Customers 400‘000

• Branches 88

• Employees 914

• Shareholders 46‘000

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Facts und Figures

• Among the top 10 Swiss Retail / Private Banks

• Focus on low risk, standard products and highly loyal customer base

• Steady increase of share price since SWX listing in 1997

Valiant core competencies

M&AGrowth by acquisition,track record of 21 banks since 1991

Efficient bankingVery low Cost/Income ratioCurrently at 46.6%Target < 50% achieved

Risk ManagementValuation adjustments

< 0.20%,Currently 0.02%

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Share Price since SWX-listing in 1997

With a CAGR of 16.16%, Valiant is a top performer.

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

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75

100

125

150

175

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225

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Valiant Holding UBS

SPI

MSCI World Banks

CS GROUP

01/01/1997 30.09.2008

CHF in %

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Since 1997, Valiant‘s market value has grown by a factor of 7.

Market Capitalization Valiant

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Key figures31.12.07

in m CHF in m EUR

Exchange Rate 1.60

Balance sheet total 17'890 11'181

Total Client Assets 14'650 9'156

Net profit 152 95

Equity 1'677 1'048

Required Equity 938 586

Cost/Income ratio 46.60 %

Return on Equity 10.05 %

Return on required Equity 16.26 %

Tier 1 + Tier 2 14.49 %

Moody's Rating A1 / C+ / P-1

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Operating income

31.12.07 in m CHF in m EUR

Exchange Rate 1.60

Net interest income 311 194

Net commission and service fee income 80 50

Net trading income 14 9

Other income 9 6

Total operating income 414 259

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Valiant is in the Top 10 of Swiss Banks.

Market Cap (in m CHF)as per 09/30/2008 / source Bloomberg

1. Credit Suisse 56‘592

2. UBS 54‘135

3. Julius Baer 11‘480

4. EFG International 4‘693

5. Valiant Holding 3‘269

6. BCV2‘864

7. St. Galler Kantonalbank 2‘581

8. Bank Vontobel 2‘308

9. Berner Kantonalbank 2‘184

10. Bank Sarasin 2‘149

Comparison of Swiss Banks Market Cap

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Our Shareholders

Shareholders by origin (in %)

Shareholders by size (in %)

Shareholders by legal form (in %)

Valiant enjoys a well balanced, stable shareholder structure.

Our Shareholders

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Outlook / Priorities

Company strategy + risk policy remain unchanged

Further outsourcing

M & A

Organic growth

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