euro adhoc: Alpine Select AG / Alpine Select AG, Zug: terminates relationship with Citicorp (E)

---------------------------------------------------------------------
Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
---------------------------------------------------------------------

Zug, 20 December 2002. Effective December 31, 2002 Alpine Select
(Overseas) Ltd., Cayman Islands - a wholly-owned subsidiary of Alpine
Select AG, Zug - agreed to terminate the Investment Management
Agreement with its trading and risk manager, Citicorp Trust N.A.
(California), for a consideration of USD 1'000'000.

This will allow the Board of Directors to regain control of the
Company's asset allocation. Accordingly, the Board of Directors have
instructed Citicorp Trust to redeem all investments. The proceeds
will be received over the next few months. The Board of Directors of
Alpine Select AG is now reviewing the Company's Investment Policy and
will propose changes to shareholders in due course.

Further inquiry note:
Dr. Hermann Strehler
Alpine Select AG, Bahnhofstrasse 23, 6304 Zug
Telephone 041 720 44 11, Fax 041 720 44 12
hstrehler@alpine-select.ch / www.alpine-select.ch
Tel: +41 41 720 44 11
FAX: +41 41 720 44 12
Email: hstrehler@alpine-select.ch

end of announcement euro adhoc 20.12.2002
---------------------------------------------------------------------

Emittent: Alpine Select AG
Bahnhofstrasse 23
CH-6301 Zug
Tel: +41 41 720 44 11
FAX: +41 41 720 44 12
Email: hstrehler@alpine-select.ch
WWW: www.alpine-select.ch
ISIN: CH0008441229
WKN: 844122
Indizes:
Börsen: official dealing SWX Swiss Exchange
Branche: Financial & Business Services
Sprache: Englisch

OTS-ORIGINALTEXT UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS | OTB

print