New competence centre for pensions

Primanet Ltd., the IGP-Trusts and Entris Banking Ltd. with its trusts REVOR and PRIVOR have created a new, wide-ranging competence centre for pensions which opens up new promising perspectives.

The partners and their products complement one another in an ideal way. To date Primanet Ltd. was active in the field of company and private pensions, specialising in the area of in-house pension funds. The IGP Trusts - independent collective trusts - perform principally services in connection with the realisation of company pension solutions for employers with individual needs. Entris Banking Ltd. and the trusts REVOR and PRIVOR offer on the other hand in the pension field cost-efficient standard products. The IGP-Trusts, as well as the trusts REVOR and PRIVOR and Entris Banking Ltd. have now taken the decision to conduct their company and private pension services from now on through Primanet Ltd.

The outcome of this is a well balanced, collective platform with comprehensive competence and potential to grow in the whole pension range. In this market-oriented and for further partners open competence centre, there will be from the start approximately 50 employees who are in charge for the pension solutions of over 140'000 insured with pension assets of more than CHF 6 billion.

(Excerpt of the press release dated 17 June 2008 - unofficial translation)

Gut Corporate Finance acted as financial advisor to Primanet Ltd. and Entris Banking Ltd. in this transaction.