Annual General Meeting 2004

Minutes

Item 4: Elections

Item 4.1.
Re-election to the Board of Directors


The Board of Directors proposed that Sir Peter Davis, whose term of office expired at the AGM, be re-elected as a non-executive member of the Board of Directors for a further three-year term.

None of those present requested the opportunity to speak. The Annual General Meeting re-elected Sir Peter Davis, with the voting being as follows:

4.1.1. Sir Peter Davis

Votes cast

314,581,407

Absolute majority

157,290,704

Votes in favour

312,174,114

Votes against

1,093,134

Abstentions

1,314,159

Item 4.2.
Election of new Board members


The Board of Directors proposed that Stephan Haeringer (a Swiss citizen) be elected to the Board as an executive member, and that Helmut Panke (a German citizen) and Peter Spuhler (a Swiss citizen) be elected as non-executive members, each for a period of three years.

None of those present requested the opportunity to speak. The Annual General Meeting approved the nominations, with the voting being as follows:

4.2.1. Stephan Haeringer

Votes cast

314,433,812

Absolute majority

157,216,907

Votes in favour

309,164,779

Votes against

3,572,781

Abstentions

1,696,252

4.2.2. Helmut Panke

Votes cast

314,415,766

Absolute majority

157,207,884

Votes in favour

311,578,682

Votes against

1,201,260

Abstentions

1,635,824

4.2.3. Peter Spuhler

Votes cast

314,467,856

Absolute majority

157,233,929

Votes in favour

311,789,398

Votes against

1,237,880

Abstentions

1,440,578

Item 4.3.
Election of Group and Statutory Auditors


Upon a motion from the Board of Directors, and based on the recommendation of the Audit Committee, the Annual General Meeting elected Ernst & Young Ltd., Basel for a further one-year term of office as Group and Statutory Auditors, the voting being as follows:

Votes cast

314,263,225

Absolute majority

157,131,613

Votes in favour

312,379,801

Votes against

662,345

Abstentions

1,221,079

Items