Passing away of Alex W. Widmer, CEO of Bank Julius Baer

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Zurich, 5 December 2008 --- It is with deepest regret that the Board
of Directors and Management of the Julius Baer Group must announce
that Alex W. Widmer, CEO of Bank Julius Baer, died unexpectedly
overnight on Wednesday at the age of 52.

Alex Widmer joined the Julius Baer Group in 2005 as a member of the
Group Executive Board and CEO of Private Banking. He became the CEO
of Bank Julius Baer in November 2007 and played the leading role in
establishing the platform upon which Bank Julius Baer's well
recognised and ongoing success has been founded. For colleagues and
clients alike, as well as for the financial industry, Alex Widmer was
the very epitome of a Swiss private banker.

Raymond J. Baer, Chairman of the Board of Directors of Bank Julius
Baer stated: "We have lost a dear friend, a good colleague and a
charismatic leader. Our thoughts are with his three children. We will
all miss him greatly. Alex very successfully opened up new dimensions
for the Private Banking business of Julius Baer. His enormous
commitment, his active relationship and close involvement with the
clients and his passion for banking will forever serve as a model for
us."

The leadership of Bank Julius Baer will be assumed by Hans de Gier,
who served as the CEO of the Julius Baer Group until September 2008
when he stepped down to focus on his function as Chairman of GAM. In
this role, he can count on the full support of the Executive Board of
the Bank.

Contact:
Jan A. Bielinski (Telephone +41 58 888 5939 / +41 58 888 5777)

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Julius Baer Holding
Bahnhofstrasse 36, P.O. Box Zurich
Switzerland

ISIN: CH0029758650; Index: SLCI, SMI, SMIEXP, SPI;
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