Vontobel: Note regarding the press release dated December 22, 2016 Mittwoch, 28. Dezember 2016 - 10:36

        December 27, 2016

It has come to our attention that the Bank's press release of December 22 (Link to media release) may be unclear and may be read as implying that the Bank resolved its case pursuant to the Program for Swiss banks or otherwise received a disposition from the Department of Justice. That is not the case. The first sentence of that release was merely intended to make clear that, in 2013, the Bank and its lawyers determined that the Bank had not committed any offenses under US tax law and proactively engaged in discussions with the Department of Justice prior to the announcement of the U.S. Program. The Bank did not seek a non-prosecution agreement or apply for a non-target letter, and has received neither.

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