Convertible Bonds CHF 920 millions 1.75% - 2007 – 2014

The main features of the bonds convertible into Pargesa Holding SA. bearer shares are the following :

Principal amount:	CHF 920 million
Denomination:	CHF 5'000
Coupon:	1.75% per annum, payable on 15 June
Maturity:	15 June 2014
Redemption price:	100% of principal amount (in case of non conversion)
Conversion price:	CHF 187.503 (subject to adjustments)
Conversion period:	From 25 July 2007 to 26 May 2014
Source of shares:	Bearer shares to be issued from the existing conditional capital
Guarantor:	Pargesa Holding S.A.
Listing:
ISIN :	CH0031826305

The offering and listing prospectus can be downloaded here: [Offering and listing prospectus]