In 2005, Swiss Life Asset Management joined the Swiss Verhaltenskodex in der beruflichen Vorsorge ("KODEX“) – a self-regulatory organization for the pension fund industry in Switzerland – thereby committing its management bodies as well as employees responsible for the investment, administration and control of pension assets to adhere to the KODEX provisions. The Executive Board has additionally taken all measures necessary to ensure compliance with the provisions of this code of conduct. As our client, you therefore have the certainty that the KODEX provisions on loyalty in the management of assets, which entered force as of 01.01.2005, will be properly and fully implemented.