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SWIFT Board elects new Chairman and Deputy Chairman

Five new Directors join the Board

BRUSSELS, 15 June 2006—SWIFT announced today the election of Mr. Yawar Shah as Chairman of the Board. Mr. Shah replaces Mr. Jaap Kamp who is retiring after 12 years on the SWIFT Board. Mr. Stephan Zimmermann has been elected Deputy Chairman. SWIFT also announced the election of five new Board Directors.

Yawar Shah, Executive Vice President, Global Operations Executive, Worldwide Securities Services, JP Morgan Chase Bank, United States, has been elected as Chairman of the Board. Yawar Shah has been a SWIFT Director since 1995 and Deputy Chairman since 1996. At JP Morgan Chase, he is responsible for global operations for Worldwide Securities Services. Prior assignments include Retail Service and Operations Executive, Chief Operating Officer of the Global Private Bank, General Manager of the Treasury Management Services business, as well as Chief Administrative Officer for Geoserve.

Jaap Kamp, a long term career banker at ABN AMRO, is retiring having joined as SWIFT Director from the Netherlands in 1994. He has been Chairman of the Board since 2000.

Mr. Kamp welcomed the election of Mr. Shah as his successor. “I have worked closely with Yawar since becoming Chairman in 2000 and am confident his experience, leadership qualities and strategic vision will be of great value to SWIFT and its members.”

Yawar Shah acknowledged Jaap Kamp’s six year term as Chairman, a period in which the new SWIFTNet platform was introduced in more than 200 countries and SWIFT achieved strong and solid growth in message volume from 1.3 billion (2000) to 2.5 billion (2005).

Mr. Shah added, “I look forward to continuing SWIFT’s focus on increasing value to shareholders, expanding the co-operative space and reducing SWIFT’s pricing and cost to banks.”

Stephan Zimmermann, COO, Global Wealth Management & Business Banking and Member of the Group Managing Board, UBS AG, Switzerland has been elected Deputy Chairman.

SWIFT also announced five new directors are joining the board, representing Belgium, the United States, Hong Kong, Sweden and Luxembourg.

Ignace Combes, Deputy Chief Executive Officer, Euroclear SA/NV, Brussels will become Belgium’s second Board member.

Alan Goldstein, Managing Director, Technology Risk Management and Architecture, The Bank of New York, New York will replace Raymond Parodi, Citibank, United States and former Chairman of SWIFT’s Securities Committee.

Eli I. Sinyak, Chief Information Officer, The Hongkong and Shanghai Banking Corporation Limited, Asia Pacific, Hong Kong replaces Y.B. Yeung, HSBC, Hong Kong former Chairman of the Hong Kong User Group, SWIFT Asia Pacific Council and Chairman of SWIFT’s Technology and Production Committee.

Per-Eric Skotthag, Deputy Head of Global Operation Services and Head of GOS Transition Office, Nordea Bank AB (publ), Stockholm replaces Roger T. Storm, Skandinaviska Enskilda Banken AB (SEB), Sweden.

Jeffrey Tessler, President and CEO, Clearstream International S.A., Luxembourg will replace André Roelants, Chairman of the Board of Directors, Clearstream International S.A., Luxembourg.