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Press release

Swisscom repurchases 9.99% of its share capital

11 March 2002

Swisscom has successfully concluded its share buyback through the issue of tradable put options. Of the 73,550,000 put options issued, 73'467'390 or 99,9% were exercised. Swisscom has therefore bought back 7'346'739 of its own registered shares for the purpose of reducing share capital; this is equivalent to 9.99% of the total share capital. The total volume of shares repurchased amounts to CHF 4.3 billion.

On 22 February 2002 shareholders were allocated free put options with an exercise date of 7 March 2002. Ten put options entitle the holder to sell one registered share at a price of CHF 580 gross or CHF 382.95 net after deduction of 35% federal withholding tax on the difference between the buyback price and the nominal value of the share.

At the General Meeting on 30 April 2002 the Swisscom board of directors intends to propose a capital reduction equivalent to the volume of shares repurchased. Shares acquired under the buyback scheme carry neither voting nor dividend rights.

The Swiss Confederation now holds 41´531´200 registered shares, which is equivalent to 62.7% of Swisscom´s share capital after entry of the capital reduction in the commercial register. The free-float in Swisscom registered shares has increased to 37.3%.

Berne, 11 March 2002


Swisscom AG
Media Relations
3050 Bern