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                               FORM 6-K
                         WASHINGTON, D.C. 20549

                         Dated September 12, 2003

                   PURSUANT TO RULE 13a-16 OR 15d-16

For the month of September 12, 2003
Commission File Number   001-15244

                           CREDIT SUISSE GROUP
                (Translation of registrant's name into English)

            Paradeplatz 8, P.O. Box 1, CH-8070 Zurich, Switzerland
                  (Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F

                       Form 20-F  /X/   Form 40-F  / /
                                -----            -----

Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1):

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a
Form 6-K if submitted solely to provide an attached annual report to
security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7):

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a
Form 6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the laws
of the jurisdiction in which the registrant is incorporated, domiciled or
legally organized (the registrant's "home country"), or under the rules of
the home country exchange on which the registrant's securities are traded, as
long as the report or other document is not a press release, is not required
to be and has not been distributed to the registrant's security holders, and,
if discussing a material event, has already been the subject of a Form 6-K
submission or other Commission filing on EDGAR.

Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of

                           Yes  / /   No  /X/
                              -----     -----

If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-


                               Media Relations

                               CREDIT SUISSE GROUP
                               P.O. Box 1
                               CH-8070 Zurich

                               Telephone     +41-1-333 8844
                               Fax           +41-1-333-8877
                               e-mail    media.relations@credit-suisse.com


ZURICH, SEPTEMBER 12, 2003 - Credit Suisse Group announced on August 5, 2003,
that it would adopt the fair value based method of expensing future employee
option awards and launch an Option Reduction Program, to be conducted on a
value-for-value basis under applicable accounting rules with the aim of reducing
the number of options outstanding.

Under the Option Reduction Program, which expired on September 9, 2003, 66.4
million of the 90.3 million options originally eligible for the Option Reduction
Program were exchanged for 2.7 million new options with an exercise price of CHF
50.55 (10% above the CHF 45.95 closing price of the Credit Suisse Group share on
September 5, 2003) as well as 19.9 million phantom/blocked registered shares,
each with a market value of CHF 45.95.

As a result of the Option Reduction Program, the total number of Credit Suisse
Group options outstanding has been reduced from 132.3 million to 68.6 million

Credit Suisse Group, Media Relations Telephone                    +41 1 333 8844

Page 1 0f 3

Credit Suisse Group, Investor Relations            Telephone      +41 1 333 4570
Internet                                                   WWW.CREDIT-SUISSE.COM


Credit Suisse Group is a leading global financial services company headquartered
in Zurich. The business unit Credit Suisse Financial Services provides private
clients and small and medium-sized companies with private banking and financial
advisory services, banking products, and pension and insurance solutions from
Winterthur. The business unit Credit Suisse First Boston, an investment bank,
serves global institutional, corporate, government and individual clients in its
role as a financial intermediary. Credit Suisse Group's registered shares (CSGN)
are listed in Switzerland and Frankfurt, and in the form of American Depositary
Shares (CSR) in New York. The Group employs around 64,000 staff worldwide. As of
June 30, 2003, it reported assets under management of CHF 1,234.2 billion.


This press release contains statements that constitute forward-looking
statements. In addition, in the future we, and others on our behalf, may make
statements that constitute forward-looking statements. Such forward-looking
statements may include, without limitation, statements relating to our plans,
objectives or goals; our future economic performance or prospects; the potential
effect on our future performance of certain contingencies; and assumptions
underlying any such statements.

Words such as "believes," "anticipates," "expects," "intends" and "plans" and
similar expressions are intended to identify forward-looking statements but are
not the exclusive means of identifying such statements. We do not intend to
update these forward-looking statements except as may be required by applicable

By their very nature, forward-looking statements involve inherent risks and
uncertainties, both general and specific, and risks exist that predictions,
forecasts, projections and other outcomes described or implied in
forward-looking statements will not be achieved. We caution you that a number of
important factors could cause results to differ materially from the plans,
objectives, expectations, estimates and intentions expressed in such
forward-looking statements. These factors include (i) market and interest rate
fluctuations; (ii) the strength of the global economy in general and the
strength of the economies of the countries in which we conduct our operations in
particular; (iii) the ability of counterparties to meet their obligations to us;
(iv) the effects of, and changes in, fiscal, monetary, trade and tax policies,
and currency fluctuations; (v) political and social developments, including war,
civil unrest or terrorist activity; (vi) the possibility of foreign exchange
controls, expropriation, nationalization or confiscation of assets in countries
in which we conduct our operations; (vii) the ability to maintain sufficient
liquidity and access capital markets; (viii) operational factors such as systems
failure, human error, or the failure to properly implement procedures; (ix)
actions taken by regulators with respect to our business and practices in one or
more of the countries in which we conduct our operations; (x) the effects of
changes in laws, regulations or accounting

Page 2 of 3

policies or practices; (xi) competition in geographic and business areas in
which we conduct our operations; (xii) the ability to retain and recruit
qualified personnel; (xiii) the ability to maintain our reputation and promote
our brands; (xiv) the ability to increase market share and control expenses;
(xv) technological changes; (xvi) the timely development and acceptance of our
new products and services and the perceived overall value of these products and
services by users; (xvii) acquisitions, including the ability to integrate
successfully acquired businesses; (xviii) the adverse resolution of litigation
and other contingencies; and (xix) our success at managing the risks involved in
the foregoing.

We caution you that the foregoing list of important factors is not exclusive;
when evaluating forward-looking statements, you should carefully consider the
foregoing factors and other uncertainties and events, as well as the risks
identified in our most recently filed Form 20-F and reports on Form 6-K
furnished to the US Securities and Exchange Commission.


This press release may contain non-GAAP financial information. A reconciliation
of such non-GAAP financial information to the most directly comparable measures
under generally accepted accounting principles, is posted on our website at

Page 3 of 3


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                                CREDIT SUISSE GROUP

Date  September 12, 2003                 By:  /s/ David Frick
    ----------------------                    -----------------------------
                                              Member of the Executive Board
*Print the name and title of the signing
officer under his signature.                    /s/ Karin Rhomberg Hug
                                                    Managing Director