Safra today announced the successful closing of its previously announced 
acquisition of Rabobank's stake in Bank Sarasin & Co. Ltd. As a result of the 
closing, Safra now holds 50.15% of the share capital and 71.01% of the voting 
rights of Bank Sarasin.

    Joseph Y. Safra stated: "We are proud to have completed this transaction 
and be the majority owners of Bank Sarasin. Sarasin is a highly regarded 
banking organization, led by a strong and knowledgeable management team. It has 
a deservedly loyal client base, underscoring the expertise of the entire 
Sarasin organization and embodied in the success of the Sarasin brand. All of 
these elements are essential to our interest in, and confidence about, Sarasin. 
We also thank Rabobank for their constructive support since we announced our 
transaction last November."

    The closing follows the transaction obtaining all appropriate competition 
and regulatory approvals in the applicable jurisdictions.

    For further information:

    Kekst and Company 
    Robert Siegfried, (+1) 212-521-4832 / (+1) 917-842-1126 | 
    e-mail: robert-siegfried@kekst.com
    Jeremy Fielding, (+1) 212-521-4858 / (+1) 646-644-4825 | 
    e-mail: jeremy-fielding@kekst.com
    Mark Semer, (+1) 212-521-4802 / (+1) 917-439-3507 | 
    e-mail: mark-semer@kekst.com

    Safra Group 
    The Safra Group is a highly regarded name in global private banking with a 
successful long standing history. Safra banks include Banco Safra, Banque J. 
Safra (Suisse), Banque J. Safra (Monaco), Banque Safra Luxembourg, Bank J. 
Safra (Gibraltar), Safra National Bank of New York and Safra International Bank 
and Trust, all built on strong financial foundations. As of December 2011, the 
Safra Group had aggregate stockholder equity of approximately USD 12 billion 
and total assets under management of USD 101 billion. The Safra banks are in 
125 locations worldwide, and have over 6,300 employees. 


    SOURCE: Safra Group