Swiss Life Private Equity - Peter Derendinger

Peter Derendinger, a designated member of the Swiss Life Private Equity board of directors, has assumed the responsibilities of chief executive officer and chief operating officer at Swiss Life Private Equity at the beginning of May 2003. David Salim, the former chief executive officer, and Thomas Grotzer, the former chief operating officer, have been relieved from their duties in the context of a strategic realignment of Private Equity Holding and Swiss Life Private Equity. Insurmountable differences of opinion between Swiss Life and part of the Swiss Life Private Equity Partners management have been named as the reason for this step.

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