PRESS RELEASE Geneva – December 14th 2008 - The founding shareholders of the Banque Bénédict Hentsch have terminated their partnership with the Fairfield Greenwich Group. They have concluded an agreement with the latter whereby they have repurchased the total capital of the Bank. Thus, the Bank regains its complete independence as well as its name, Banque Bénédict Hentsch & Cie SA. The transaction signed today December 14, 2008 is conditional upon approval of the Swiss Federal Banking Commission. Estimated loss on Madoff $48 million

BENEDICT HENTSCH - The Swiss private bank said its exposure to products linked to Madoff amounted to 56 million francs ($60 million), or less than 5 percent of assets under management.
BENEDICT HENTSCH - The Swiss private bank said its exposure to products linked to Madoff amounted to 56 million francs ($60 million), or less than 5 percent of assets under management.
BENEDICT HENTSCH - The Swiss private bank said its exposure to products linked t...