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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File No. 811-08935
CREDIT SUISSE GLOBAL TECHNOLOGY FUND, INC.
-------------------------------------------------
(Exact Name of Registrant as Specified in Charter)
466 Lexington Avenue, New York, New York 10017-3140
--------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Hal Liebes, Esq.
Credit Suisse Global Technology Fund, Inc.
466 Lexington Avenue
New York, New York 10017-3140
Registrant's telephone number, including area code:(212) 875-3500
Date of fiscal year end: August 31, 2003
Date of reporting period: September 1, 2002 to August 31, 2003
ITEM 1. REPORTS TO STOCKHOLDERS.
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[CREDIT SUISSE ASSET MANAGEMENT LOGO]
CREDIT SUISSE FUNDS
ANNUAL REPORT
AUGUST 31, 2003
- - CREDIT SUISSE
GLOBAL TECHNOLOGY FUND
- - CREDIT SUISSE
GLOBAL HEALTH SCIENCES FUND
MORE COMPLETE INFORMATION ABOUT THE FUNDS, INCLUDING CHARGES AND EXPENSES IS
PROVIDED IN THE PROSPECTUS, WHICH MUST PRECEDE OR ACCOMPANY THIS DOCUMENT AND
WHICH SHOULD BE READ CAREFULLY BEFORE INVESTING. YOU MAY OBTAIN ADDITIONAL
COPIES BY CALLING 800-927-2874 OR BY WRITING TO CREDIT SUISSE FUNDS, P.O. BOX
55030, BOSTON, MA 02205-5030.
CREDIT SUISSE ASSET MANAGEMENT SECURITIES, INC., DISTRIBUTOR, IS LOCATED AT
466 LEXINGTON AVE., NEW YORK, NY 10017-3140. CREDIT SUISSE FUNDS ARE ADVISED BY
CREDIT SUISSE ASSET MANAGEMENT, LLC.
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THE FUNDS' INVESTMENT ADVISER AND CO-ADMINISTRATORS MAY WAIVE SOME FEES AND/OR
REIMBURSE SOME EXPENSES, WITHOUT WHICH PERFORMANCE WOULD BE LOWER. WAIVERS
AND/OR REIMBURSEMENTS ARE SUBJECT TO CHANGE.
RETURNS INCLUDE CHANGES IN SHARE PRICE AND REINVESTMENT OF DIVIDENDS AND CAPITAL
GAINS. PAST PERFORMANCE CANNOT GUARANTEE FUTURE RESULTS. RETURNS AND SHARE PRICE
WILL FLUCTUATE, AND REDEMPTION VALUE MAY BE MORE OR LESS THAN ORIGINAL COST.
THE VIEWS OF THE FUNDS' MANAGEMENT ARE AS OF THE DATE OF THE LETTER AND THE
FUNDS HOLDINGS DESCRIBED IN THIS DOCUMENT ARE AS OF AUGUST 31, 2003; THESE VIEWS
AND FUNDS HOLDINGS MAY HAVE CHANGED SUBSEQUENT TO THESE DATES. NOTHING IN THIS
DOCUMENT IS A RECOMMENDATION TO PURCHASE OR SELL SECURITIES.
FUNDS SHARES ARE NOT DEPOSITS OR OTHER OBLIGATIONS OF CREDIT SUISSE ASSET
MANAGEMENT, LLC ("CSAM") OR ANY AFFILIATE, ARE NOT FDIC-INSURED AND ARE NOT
GUARANTEED BY CSAM OR ANY AFFILIATE.
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CREDIT SUISSE GLOBAL TECHNOLOGY FUND
ANNUAL INVESTMENT ADVISER'S REPORT
August 31, 2003
September 19, 2003
Dear Shareholder:
We are writing to report on the results of the Credit Suisse Global
Technology Fund(1) (the "Fund") for the fiscal year ended August 31, 2003.
At August 31, 2003, the net asset value (NAV) per share of the Fund's Common
Class and Class A(2) shares was $23.66, compared to an NAV per share of $19.00
on August 31, 2002. As a result, the total return of the Common Class and Class
A(2) (without the maximum sales charge of 5.75%) shares was 24.53%. By
comparison, the MSCI All Country World Free Growth Index(3) gained 10.55% during
the same period.
In general, the fiscal year proved to be rewarding for growth-oriented stocks
like those in the Fund's three core industry sectors of technology, media and
telecommunications (collectively abbreviated as "TMT"). Many TMT names returned
to favor toward the end of 2002 after their shares had weakened in line with
widening pessimism about the prospects for global economic activity. Apart from
a phase in the first calendar quarter of 2003--when financial markets as a whole
suffered from anxiety about the timing and potential length of a war with
Iraq--the various TMT subcategories tended to appreciate as U.S. economic data
showed improvement and monetary policy of the world's major central banks was
broadly accommodative.
Within the TMT universe, other factors were considered additionally
encouraging as the fiscal year progressed. Widespread fears that
technology-industry conditions would materially worsen did not come to fruition,
for example. Long-dormant consolidation activity began to revive in June. Shares
of leading Internet-based companies surged on enthusiasm about their
profitability and hope that it would prove sustainable. And the capital markets
began to open up to initial and secondary tech-stock offerings after having been
virtually closed to them for an extended spell.
Against the backdrop of conditions that we have described, the Fund
significantly outperformed its benchmark as a result of strong stock selection
and effective portfolio weightings on both a sectoral and regional basis.
Stock selection was solidly beneficial in the three core TMT sectors. In each
case (particularly in telecom), the Fund's holdings generated returns that
comfortably exceeded those of the benchmark's corresponding industry
subcomponent. Our above-benchmark weightings in each, moreover, served to
amplify the favorable impact of stock selection.
Viewed regionally, the Fund was most successful in the U.S. which, as we have
long noted, represents the deepest and most diversified universe of publicly
traded TMT equities worldwide. We overweighted U.S. exposure accordingly, and
held positions in a wide variety of U.S.-based companies spread across the
spectrum of TMT subcategories.
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Other countries in which the portfolio fared especially well included the
Netherlands, the U.K., Portugal and France.
The most negative contributions to the Fund's overall return came from stock
selection in Japan, where we held a couple of leading electronic-game software
companies, whose shares notably declined; and Norway, where our lone position,
in a manufacturer of consumer electronics products, was also a weak performer.
Sincerely yours,
David Lefkowitz, Portfolio Manager
CREDIT SUISSE ASSET MANAGEMENT, LLC
NOTE: INTERNATIONAL INVESTING ENTAILS SPECIAL RISK CONSIDERATIONS, INCLUDING
CURRENCY FLUCTUATIONS, LOWER LIQUIDITY, ECONOMIC AND POLITICAL RISKS, AND
DIFFERENCES IN ACCOUNTING METHODS. SINCE THE FUND FOCUSES ITS INVESTMENTS ON
COMPANIES INVOLVED IN TECHNOLOGY, AN INVESTMENT IN THE FUND MAY INVOLVE A
GREATER DEGREE OF RISK THAN AN INVESTMENT IN OTHER MUTUAL FUNDS THAT INVEST IN A
BROADER MIX OF ISSUERS.
IN ADDITION TO HISTORICAL INFORMATION, THIS REPORT CONTAINS FORWARD-LOOKING
STATEMENTS, WHICH MAY CONCERN, AMONG OTHER THINGS, DOMESTIC AND FOREIGN MARKET,
INDUSTRY AND ECONOMIC TRENDS AND DEVELOPMENTS AND GOVERNMENT REGULATION AND
THEIR POTENTIAL IMPACT ON THE FUND'S INVESTMENT PORTFOLIO. THESE STATEMENTS ARE
SUBJECT TO RISKS AND UNCERTAINTIES AND ACTUAL TRENDS, DEVELOPMENTS AND
REGULATIONS IN THE FUTURE, AND THEIR IMPACT ON THE FUND COULD BE MATERIALLY
DIFFERENT FROM THOSE PROJECTED, ANTICIPATED OR IMPLIED. THE FUND HAS NO
OBLIGATION TO UPDATE OR REVISE FORWARD-LOOKING STATEMENTS.
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<Table>
<Caption>
CS GLOBAL TECHNOLOGY - COMMON CLASS MSCI AC WORLD FREE GROWTH $ (GROSS DIV)
ASOFDATE $ VALUE MONTHLY RETURN $ VALUE MONTHLY RETURN
12/4/1996 10,000 N/A $ 10,000.00
12/31/1996 9,987 -0.13% n/a $ 10,000.00
1/31/1997 10,827 8.41% 1.82 $ 10,182.00
2/28/1997 10,787 -0.37% 1.2552 $ 10,309.80
3/31/1997 10,327 -4.26% -2.3318 $ 10,069.40
4/30/1997 10,740 4.00% 4.3627 $ 10,508.70
5/31/1997 11,460 6.70% 5.7067 $ 11,108.40
6/30/1997 12,060 5.24% 5.5859 $ 11,728.90
7/31/1997 12,193 1.11% 4.477 $ 12,254.01
8/31/1997 11,533 -5.41% -7.6954 $ 11,311.01
9/30/1997 12,847 11.39% 5.6105 $ 11,945.61
10/31/1997 12,373 -3.68% -7.0453 $ 11,104.01
11/30/1997 12,860 3.93% 2.3622 $ 11,366.31
12/31/1997 13,215 2.76% 1.0478 $ 11,485.41
1/31/1998 13,496 2.13% 3.3268 $ 11,867.50
2/28/1998 15,179 12.47% 7.234 $ 12,726.00
3/31/1998 16,974 11.83% 3.4284 $ 13,162.29
4/30/1998 17,115 0.83% 0.5068 $ 13,229.00
5/31/1998 16,665 -2.63% -1.6917 $ 13,005.21
6/30/1998 17,728 6.38% 3.6393 $ 13,478.50
7/31/1998 18,481 4.25% 0.0697 $ 13,487.90
8/31/1998 14,461 -21.75% -12.446 $ 11,809.20
9/30/1998 15,552 7.55% 2.3787 $ 12,090.10
10/31/1998 17,164 10.37% 8.8709 $ 13,162.60
11/30/1998 19,460 13.37% 6.4987 $ 14,018.00
12/31/1998 22,124 13.69% 7.0046 $ 14,999.90
1/31/1999 25,160 13.72% 3.414 $ 15,512.00
2/28/1999 24,138 -4.06% -3.7693 $ 14,927.31
3/31/1999 27,312 13.15% 3.9833 $ 15,521.91
4/30/1999 29,179 6.83% 0.3698 $ 15,579.31
5/31/1999 28,188 -3.40% -3.3172 $ 15,062.51
6/30/1999 31,254 10.88% 6.4412 $ 16,032.72
7/31/1999 31,525 0.87% -1.1296 $ 15,851.61
8/31/1999 31,920 1.25% 1.1696 $ 16,037.01
9/30/1999 33,570 5.17% 0.0056 $ 16,037.91
10/31/1999 38,038 13.31% 6.3755 $ 17,060.41
11/30/1999 45,317 19.14% 6.0895 $ 18,099.30
12/31/1999 56,673 25.06% 11.7065 $ 20,218.09
1/31/2000 56,113 -0.99% -5.8626 $ 19,032.79
2/29/2000 65,274 16.33% 3.6043 $ 19,718.79
3/31/2000 65,092 -0.28% 5.6423 $ 20,831.38
4/30/2000 55,923 -14.09% -6.9078 $ 19,392.39
5/31/2000 50,861 -9.05% -5.8703 $ 18,254.00
6/30/2000 55,615 9.35% 6.0337 $ 19,355.39
7/31/2000 52,827 -5.01% -5.2275 $ 18,343.59
8/31/2000 54,581 3.32% 3.4279 $ 18,972.39
9/30/2000 48,531 -11.08% -8.8529 $ 17,292.78
10/31/2000 45,790 -5.65% -4.3723 $ 16,536.69
11/30/2000 35,816 -21.78% -7.8172 $ 15,243.98
12/31/2000 35,005 -2.27% -1.6807 $ 14,987.78
1/31/2001 41,157 17.58% 3.6249 $ 15,531.07
2/28/2001 34,116 -17.11% -12.6321 $ 13,569.17
3/31/2001 29,375 -13.90% -8.2208 $ 12,453.67
4/30/2001 32,962 12.21% 8 $ 13,449.97
5/31/2001 31,742 -3.70% -1.884 $ 13,196.57
6/30/2001 29,765 -6.23% -3.438 $ 12,742.87
7/31/2001 27,499 -7.62% -1.6495 $ 12,532.68
8/31/2001 24,169 -12.11% -6.0218 $ 11,777.99
9/30/2001 21,521 -10.96% -8.6976 $ 10,753.58
10/31/2001 22,027 2.35% 4.4097 $ 11,227.78
11/30/2001 24,427 10.89% 7.7566 $ 12,098.68
12/31/2001 24,983 2.28% 0.89679 $ 12,207.18
1/31/2002 23,248 -6.95% -3.0515 $ 11,834.68
2/28/2002 21,654 -6.86% 0.3202 $ 11,872.57
3/31/2002 22,965 6.06% 2.5378 $ 12,173.87
4/30/2002 20,674 -9.98% -3.8377 $ 11,706.68
5/31/2002 20,342 -1.61% -0.5877 $ 11,637.88
6/30/2002 17,826 -12.37% -5.8172 $ 10,960.88
7/31/2002 15,833 -11.18% -7.09 $ 10,183.75
8/31/2002 15,775 -0.37% 0.0864 $ 10,192.55
9/30/2002 14,032 -11.05% -9.8932 $ 9,184.18
10/31/2002 15,418 9.88% 7.7805 $ 9,898.76
11/30/2002 17,378 12.71% 3.7791 $ 10,272.84
12/31/2002 15,236 -12.33% -3.8401 $ 9,878.35
1/31/2003 15,070 -1.09% -3.5156 $ 9,531.07
2/28/2003 14,754 -2.09% -1.132 $ 9,423.18
3/31/2003 14,688 -0.45% 0.78 $ 9,496.68
4/30/2003 16,199 10.29% 7.2075 $ 10,181.15
5/31/2003 17,569 8.46% 4.2617 $ 10,615.04
6/30/2003 17,843 1.56% 1.6099 $ 10,785.93
7/31/2003 18,656 4.56% 2.1587 $ 11,018.77
8/31/2003 19,644 5.30% 2.2386 $ 11,265.44
Check 19,644
</Table>
Index started 1/1/97
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<Table>
<Caption>
CS GLOBAL TECHNOLOGY - CLASS A MSCI AC WORLD FREE GROWTH $ (GROSS DIV)
STARTING PLOT POINT = 9,425
ASOFDATE $ VALUE MONTHLY RETURN MONTHLY RETURN $ VALUE
11/30/2001 10,000 N/A 10,000.00
12/31/2001 9,644 -3.56% 0.89679 10,089.68
1/31/2002 8,971 -6.98% -3.0515 9,781.79
2/28/2002 8,353 -6.89% 0.3202 9,813.11
3/31/2002 8,859 6.06% 2.5378 10,062.15
4/30/2002 7,978 -9.95% -3.8377 9,676.00
5/31/2002 7,850 -1.61% -0.5877 9,619.13
6/30/2002 6,879 -12.37% -5.8172 9,059.57
7/31/2002 6,113 -11.13% -7.09 8,417.24
8/31/2002 6,088 -0.42% 0.0864 8,424.52
9/30/2002 5,415 -11.05% -9.8932 7,591.06
10/31/2002 5,950 9.88% 7.7805 8,181.68
11/30/2002 6,706 12.71% 3.7791 8,490.88
12/31/2002 5,880 -12.33% -3.8401 8,164.82
1/31/2003 5,815 -1.09% -3.5156 7,877.78
2/28/2003 5,694 -2.09% -1.132 7,788.60
3/31/2003 5,668 -0.45% 0.78 7,849.35
4/30/2003 6,251 10.29% 7.2075 8,415.09
5/31/2003 6,777 8.41% 4.2617 8,773.72
6/30/2003 6,886 1.61% 1.6099 8,914.97
7/31/2003 7,196 4.51% 2.1587 9,107.42
8/31/2003 7,581 5.34% 2.2386 9,311.29
Check
(with Load): $ 7,581
</Table>
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AVERAGE ANNUAL RETURNS AS OF AUGUST 31, 2003(1)
<Table>
<Caption>
SINCE
1 YEAR 3 YEAR 5 YEAR INCEPTION
--------- ------------ ---------- -------------
Common Class 24.53% (28.87%) 6.32% 10.53%
Class A Without Sales Charge 24.53% - - (11.69%)
Class A With Maximum Sales Charge 17.36% - - (14.61%)
</Table>
AVERAGE ANNUAL RETURNS AS OF SEPTEMBER 30, 2003(1)
<Table>
<Caption>
SINCE
1 YEAR 3 YEAR 5 YEAR INCEPTION
--------- ------------ ---------- -------------
Common Class 37.57% (26.46%) 4.42% 10.12%
Class A Without Sales Charge 37.57% - - (12.03%)
Class A With Maximum Sales Charge 29.67% - - (14.82%)
</Table>
- ----------
(1) Fee waivers and/or expense reimbursements reduced expenses for the Fund,
without which performance would be lower. Waivers and/or reimbursements may
be discontinued at any time.
(2) Total return for Class A shares for the reporting period, based on offering
price (with maximum initial sales charge of 5.75%), was 17.36%.
(3) The Morgan Stanley Capital International All Country World Free Growth
Index is a market-capitalization-weighted index of growth companies (with
high price-book-value securities) listed on stock exchanges in and outside
of the U.S., and is compiled by Morgan Stanley Capital International, Inc.
Investors cannot invest directly in an index.
(4) Performance for the benchmark is not available for the period beginning
December 4, 1996 (Inception Date). For that reason performance is shown for
the period beginning January 1, 1997.
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CREDIT SUISSE GLOBAL HEALTH SCIENCES FUND
ANNUAL INVESTMENT ADVISER'S REPORT
August 31, 2003
September 19, 2003
Dear Shareholder:
For the 12 months ended August 31, 2003, the Common Class Shares of Credit
Suisse Global Health Sciences Fund(1) (the "Fund") had a gain of 22.98%, versus
increases of 12.07% and 4.29%, respectively, for the S&P 500 Index(2) and the
Morgan Stanley Capital International World Health Care Index.(3) The Fund's
Class A Shares(1),(4) (without the maximum sales charge of 5.75%) also had a
gain of 22.98% for the period.
The period was ultimately a positive one for the stock markets around the
world, though equities struggled early on. The market reached its low point for
the period in early October 2002, hurt by a great deal of uncertainty regarding
a possible U.S. led conflict with Iraq, which elevated investors' risk
thresholds. Stocks began to recover, however, rallying over the second half of
the period. When the war came to a swift and seemingly successful end in April
2003, a major cloud of uncertainty lifted and investors embraced risk. Optimism
over a potential recovery in the U.S. economy--and by extension, the global
economy--also supported equities. Grounds for this optimism included
historically low interest rates, a significant tax-reduction package, and an
upturn in leading economic indicators in the U.S. and elsewhere.
Health-care stocks had mixed results in this environment. The best performers
tended to be small- and mid-cap stocks of pharmaceutical and biotechnology
companies. Large-cap drug stocks underperformed these companies, and lagged the
broader equity market as well. Although they outperformed early in the period,
the group--generally perceived to be a "defensive" sector--lost steam as
investors' appetite for risk rose beginning in March 2003.
With respect to subsector allocation, we maintained what we consider to be a
diversified portfolio of health-care stocks. Consistent with our goal of capital
appreciation, we continued to hold a number of biotech/emerging pharmaceutical
names, emphasizing companies with FDA-approved products. This proved beneficial
to the Fund's relative and absolute performance in the period, as these holdings
for the most part had solid showings for the 12 months.
Peter T. Wen Scott T. Lewis
Co-Portfolio Manager Co-Portfolio Manager
Steve Putnam Sherry Bertner Rabinowitz
Associate Portfolio Manager Associate Portfolio Manager
CREDIT SUISSE ASSET MANAGEMENT, LLC
INTERNATIONAL INVESTING ENTAILS SPECIAL RISK CONSIDERATIONS, INCLUDING CURRENCY
FLUCTUATIONS, LOWER LIQUIDITY, ECONOMIC AND POLITICAL RISKS, AND DIFFERENCES IN
ACCOUNTING
<Page>
METHODS. SINCE THE FUND FOCUSES ITS INVESTMENTS ON COMPANIES INVOLVED IN THE
HEALTH SCIENCES, AN INVESTMENT IN THE FUND MAY INVOLVE A GREATER DEGREE OF RISK
THAN AN INVESTMENT IN OTHER MUTUAL FUNDS THAT INVEST IN A BROADER MIX OF
ISSUERS. IN ADDITION TO HISTORICAL INFORMATION, THIS REPORT CONTAINS
FORWARD-LOOKING STATEMENTS, WHICH MAY CONCERN, AMONG OTHER THINGS, DOMESTIC AND
FOREIGN MARKET, INDUSTRY AND ECONOMIC TRENDS AND DEVELOPMENTS AND GOVERNMENT
REGULATION AND THEIR POTENTIAL IMPACT ON THE FUND'S INVESTMENTS. THESE
STATEMENTS ARE SUBJECT TO RISKS AND UNCERTAINTIES AND ACTUAL TRENDS,
DEVELOPMENTS AND REGULATIONS IN THE FUTURE AND THEIR IMPACT ON THE FUND COULD BE
MATERIALLY DIFFERENT FROM THOSE PROJECTED, ANTICIPATED OR IMPLIED. THE FUND HAS
NO OBLIGATION TO UPDATE OR REVISE FORWARD-LOOKING STATEMENTS.
<Page>
<Table>
<Caption>
CS GLOBAL HEALTH SCIENCES - COMMON CLASS S&P 500 INDEX MSCI WORLD HEALTHCARE INDEX
ASOFDATE $ VALUE MONTHLY RETURN MONTHLY RETURN $ VALUE MONTHLY RETURN $ VALUE
12/31/1996 10,000 10,000 10,000
1/31/1997 10,330 3.30% 6.208 10,621 7.149 10,715
2/28/1997 10,220 -1.06% 0.802 10,706 1.9693 10,926
3/31/1997 9,620 -5.87% -4.159 10,261 -2.4506 10,658
4/30/1997 9,820 2.08% 5.966 10,873 6.262 11,326
5/31/1997 10,530 7.23% 6.138 11,540 5.2498 11,920
6/30/1997 11,330 7.60% 4.397 12,048 9.1221 13,008
7/31/1997 11,760 3.80% 7.943 13,005 2.4046 13,320
8/31/1997 11,260 -4.25% -5.542 12,284 -8.8709 12,139
9/30/1997 12,020 6.75% 5.453 12,954 6.5725 12,936
10/31/1997 12,220 1.66% -3.291 12,527 -0.4304 12,881
11/30/1997 12,710 4.01% 4.587 13,102 2.8263 13,245
12/31/1997 12,735 0.20% 1.69 13,323 3.8753 13,758
1/31/1998 13,234 3.92% 1.132 13,474 7.7333 14,822
2/28/1998 14,233 7.54% 7.186 14,443 5.5739 15,648
3/31/1998 14,827 4.18% 5.133 15,184 1.1903 15,835
4/30/1998 15,231 2.72% 1.036 15,341 0.8156 15,964
5/31/1998 14,870 -2.37% -1.739 15,074 -2.1421 15,622
6/30/1998 15,539 4.50% 4.062 15,687 5.1424 16,425
7/31/1998 15,136 -2.60% -1.063 15,520 0.1118 16,443
8/31/1998 13,064 -13.68% -14.436 13,280 -8.2337 15,089
9/30/1998 14,551 11.38% 6.476 14,140 7.1863 16,174
10/31/1998 15,305 5.18% 8.095 15,284 5.818 17,115
11/30/1998 16,081 5.07% 6.063 16,211 5.1549 17,997
12/31/1998 16,962 5.48% 5.819 17,154 4.5593 18,818
1/31/1999 16,782 -1.06% 4.116 17,860 -0.7392 18,679
2/28/1999 16,368 -2.47% -3.106 17,305 -0.6705 18,553
3/31/1999 16,389 0.13% 4.017 18,001 1.6191 18,854
4/30/1999 15,274 -6.80% 3.808 18,686 -6.5874 17,612
5/31/1999 15,465 1.25% -2.312 18,254 -2.3409 17,199
6/30/1999 16,187 4.67% 5.466 19,252 2.2617 17,588
7/31/1999 15,911 -1.71% -3.046 18,665 -3.5425 16,965
8/31/1999 16,516 3.81% -0.466 18,578 3.1702 17,503
9/30/1999 15,369 -6.95% -2.769 18,064 -4.2557 16,758
10/31/1999 15,847 3.11% 6.358 19,212 8.8486 18,241
11/30/1999 16,431 3.69% 2.044 19,605 -0.076 18,227
12/31/1999 18,046 9.83% 5.879 20,758 -7.1731 16,920
1/31/2000 19,458 7.83% -5.024 19,715 0.4836 17,002
2/29/2000 22,698 16.65% -1.891 19,342 -7.0075 15,810
3/31/2000 19,448 -14.32% 9.783 21,234 7.9292 17,064
4/30/2000 18,471 -5.02% -3.009 20,595 4.5662 17,843
5/31/2000 17,993 -2.59% -2.052 20,173 2.9642 18,372
6/30/2000 21,859 21.49% 2.465 20,670 7.6696 19,781
7/31/2000 22,061 0.92% -1.563 20,347 -4.0468 18,981
8/31/2000 25,438 15.31% 6.21 21,611 -0.0684 18,968
9/30/2000 26,978 6.05% -5.28 20,469 4.522 19,825
10/31/2000 25,555 -5.28% -0.423 20,383 1.2168 20,067
11/30/2000 23,994 -6.11% -7.884 18,776 4.2715 20,924
12/31/2000 25,066 4.47% 0.489 18,868 2.6693 21,482
1/31/2001 22,618 -9.77% 3.548 19,537 -8.0527 19,752
2/28/2001 21,418 -5.31% -9.118 17,756 0.4106 19,833
3/31/2001 18,958 -11.48% -6.335 16,631 -6.4451 18,555
4/30/2001 21,244 12.06% 7.771 17,923 1.9614 18,919
5/31/2001 22,399 5.43% 0.67 18,043 0.9171 19,093
6/30/2001 23,161 3.40% -2.434 17,604 -3.0633 18,508
7/31/2001 22,087 -4.64% -0.984 17,431 3.9328 19,236
8/31/2001 21,764 -1.46% -6.26 16,340 -3.4924 18,564
9/30/2001 20,240 -7.00% -8.075 15,020 1.8682 18,911
10/31/2001 21,533 6.39% 1.907 15,307 -1.2578 18,673
11/30/2001 22,815 5.95% 7.671 16,481 2.4347 19,127
12/31/2001 23,069 1.11% 0.876 16,625 -2.2706 18,693
1/31/2002 20,933 -9.26% -1.459 16,383 -2.3355 18,257
2/28/2002 19,743 -5.68% -1.928 16,067 1.6698 18,561
3/31/2002 20,459 3.63% 3.761 16,671 0.3842 18,633
4/30/2002 19,270 -5.81% -6.063 15,660 -3.7418 17,935
5/31/2002 18,473 -4.13% -0.737 15,545 -2.3061 17,522
6/30/2002 16,996 -8.00% -7.124 14,438 -6.636 16,359
7/31/2002 16,107 -5.23% -7.795 13,312 -4.709 15,589
8/31/2002 15,726 -2.37% 0.657 13,400 0.061 15,598
9/30/2002 15,287 -2.79% -10.868 11,943 -5.455 14,747
10/31/2002 15,829 3.55% 8.802 12,995 5.493 15,557
11/30/2002 16,141 1.97% 5.886 13,759 1.309 15,761
12/31/2002 15,598 -3.36% -5.875 12,951 -2.537 15,361
1/31/2003 15,668 0.44% -2.62 12,612 -1.22 15,174
2/28/2003 15,552 -0.74% -1.5 12,423 -2.66 14,770
3/31/2003 16,210 4.23% 0.97 12,543 2.877 15,195
4/30/2003 16,476 1.64% 8.24 13,577 5.47 16,026
5/31/2003 18,058 9.60% 5.27 14,292 2.873 16,487
6/30/2003 18,300 1.34% 1.28 14,475 3.025 16,985
7/31/2003 19,466 6.37% 1.76 14,730 -1.199 16,782
8/31/2003 19,339 -0.65% 1.95 15,017 -3.062 16,268
Check 19,339
</Table>
<Page>
<Table>
<Caption>
CS GLOBAL HEALTH SCIENCES - CLASS A S&P 500 INDEX MSCI WORLD HEALTHCARE INDEX
STARTING PLOT POINT = 9,425
ASOFDATE $ VALUE MONTHLY RETURN MONTHLY RETURN $ VALUE MONTHLY RETURN $ VALUE
11/30/2001 10,000 N/A 10,000 10,000
12/31/2001 9,533 -4.67% 0.876 10,088 -2.2706 9,773
1/31/2002 8,646 -9.30% -1.459 9,940 -2.3355 9,545
2/28/2002 8,155 -5.68% -1.928 9,749 1.6698 9,704
3/31/2002 8,450 3.63% 3.761 10,115 0.3842 9,741
4/30/2002 7,959 -5.81% -6.063 9,502 -3.7418 9,377
5/31/2002 7,630 -4.13% -0.737 9,432 -2.3061 9,161
6/30/2002 7,020 -8.00% -7.124 8,760 -6.636 8,553
7/31/2002 6,652 -5.23% -7.795 8,077 -4.709 8,150
8/31/2002 6,495 -2.37% 0.657 8,130 0.061 8,155
9/30/2002 6,314 -2.79% -10.868 7,247 -5.455 7,710
10/31/2002 6,538 3.55% 8.802 7,885 5.493 8,134
11/30/2002 6,667 1.97% 5.886 8,349 1.309 8,240
12/31/2002 6,443 -3.36% -5.875 7,858 -2.537 8,031
1/31/2003 6,471 0.44% -2.62 7,652 -1.22 7,933
2/28/2003 6,423 -0.74% -1.5 7,538 -2.66 7,722
3/31/2003 6,695 4.23% 0.97 7,611 2.877 7,944
4/30/2003 6,810 1.71% 8.24 8,238 5.47 8,379
5/31/2003 7,458 9.52% 5.27 8,672 2.873 8,619
6/30/2003 7,558 1.34% 1.28 8,783 3.025 8,880
7/31/2003 8,040 6.37% 1.76 8,937 -1.199 8,774
8/31/2003 7,988 -0.65% 1.95 9,112 -3.062 8,505
Inception to date
(with Load): 7,988
</Table>
<Page>
AVERAGE ANNUAL RETURNS AS OF AUGUST 31, 2003(1)
<Table>
<Caption>
SINCE
1 YEAR 3 YEAR 5 YEAR INCEPTION
---------------- ---------------- ------------------ -------------------
Common Class 22.98% (8.73%) 8.16% 10.40%
Class A Without Sales Charge 22.98% - - (8.99%)
Class A With Maximum Sales Charge 15.92% - - (12.03%)
</Table>
- ----------
(1) Fee waivers and/or expense reimbursements reduced expenses for the Fund,
without which performance would be lower. Waivers and/or reimbursements may
be discontinued at any time.
(2) The Standard & Poor's 500 Index is an unmanaged index (with no defined
investment objective) of common stocks. It includes reinvestment of
dividends, and is a registered trademark of McGraw-Hill Co., Inc. Investors
cannot invest directly in an index.
(3) The Morgan Stanley Capital International World Health Care Index is a
sector-level equity index that consists of all securities in the developed
markets that are classified under the Global Industry Classification
Standard (GICS)(SM) healthcare sector. It is the exclusive property of
Morgan Stanley Capital International Inc. Investors cannot invest directly
in an index.
(4) Total return for Class A shares for the reporting period, based on offering
price (with maximum sales charge of 5.75%), was 15.92%.
<Page>
CREDIT SUISSE GLOBAL TECHNOLOGY FUND
SCHEDULE OF INVESTMENTS
August 31, 2003
<Table>
<Caption>
NUMBER OF
SHARES VALUE
------------- -------------
COMMON STOCKS (94.3%)
AUSTRALIA (0.9%)
MEDIA (0.9%)
News Corporation, Ltd. ADR 22,000 $ 636,240
-------------
TOTAL AUSTRALIA 636,240
-------------
BELGIUM (0.0%)
COMMUNICATIONS EQUIPMENT (0.0%)
Telindus Group NV - Strip VVPR* 305 3
-------------
TOTAL BELGIUM 3
-------------
BERMUDA (1.7%)
INDUSTRIAL CONGLOMERATES (1.7%)
Tyco International, Ltd. 60,800 1,251,264
-------------
TOTAL BERMUDA 1,251,264
-------------
CHINA (1.2%)
DIVERSIFIED TELECOMMUNICATION SERVICES (1.2%)
China Telecom Corporation, Ltd. ADR 33,450 904,488
-------------
TOTAL CHINA 904,488
-------------
FINLAND (2.3%)
COMMUNICATIONS EQUIPMENT (2.3%)
Nokia Oyj 64,900 1,063,105
Nokia Oyj ADR 38,300 623,907
-------------
TOTAL FINLAND 1,687,012
-------------
FRANCE (1.4%)
DIVERSIFIED TELECOMMUNICATION SERVICES (1.4%)
France Telecom SA* 43,100 1,069,420
-------------
TOTAL FRANCE 1,069,420
-------------
INDONESIA (1.7%)
DIVERSIFIED TELECOMMUNICATION SERVICES (1.7%)
PT Telekomunikasi Indonesia ADR 113,400 1,270,080
-------------
TOTAL INDONESIA 1,270,080
-------------
ISRAEL (0.6%)
INTERNET SOFTWARE & SERVICES (0.6%)
Check Point Software Technologies, Ltd.* 24,000 419,280
-------------
TOTAL ISRAEL 419,280
-------------
JAPAN (3.3%)
OFFICE ELECTRONICS (1.8%)
Canon, Inc. 27,000 1,298,166
-------------
WIRELESS TELECOMMUNICATION SERVICES (1.5%)
NTT DoCoMo, Inc. 436 1,121,015
-------------
TOTAL JAPAN 2,419,181
-------------
</Table>
See Accompanying Notes to Financial Statements.
<Page>
<Table>
<Caption>
NUMBER OF
SHARES VALUE
------------- -------------
MEXICO (2.7%)
DIVERSIFIED TELECOMMUNICATION SERVICES (1.8%)
Telefonos de Mexico SA de CV ADR 45,570 $ 1,381,227
-------------
WIRELESS TELECOMMUNICATION SERVICES (0.9%)
America Movil SA de CV ADR, Series L 28,760 661,480
-------------
TOTAL MEXICO 2,042,707
-------------
NETHERLANDS (3.8%)
DIVERSIFIED TELECOMMUNICATION SERVICES (1.6%)
Koninklijke (Royal) KPN NV* 168,777 1,169,244
-------------
SEMICONDUCTOR EQUIPMENT & PRODUCTS (2.2%)
ASML Holding NV* 105,220 1,657,727
-------------
TOTAL NETHERLANDS 2,826,971
-------------
TAIWAN (2.9%)
SEMICONDUCTOR EQUIPMENT & PRODUCTS (2.9%)
Taiwan Semiconductor Manufacturing Company, Ltd. ADR* 182,304 2,147,541
United Microelectronics Corp.* 41,866 34,318
-------------
TOTAL TAIWAN 2,181,859
-------------
UNITED KINGDOM (2.1%)
WIRELESS TELECOMMUNICATION SERVICES (2.1%)
Vodafone Group PLC 833,600 1,526,218
-------------
TOTAL UNITED KINGDOM 1,526,218
-------------
UNITED STATES (69.7%)
AEROSPACE & DEFENSE (3.9%)
Alliant Techsystems, Inc.* 16,000 815,040
L-3 Communications Holdings, Inc.* 34,000 1,737,060
Lockheed Martin Corp. 7,000 358,610
-------------
2,910,710
-------------
AUTO COMPONENTS (0.7%)
Gentex Corp. 15,000 562,650
-------------
COMMUNICATIONS EQUIPMENT (7.9%)
Cisco Systems, Inc.* 137,525 2,633,604
Comverse Technology, Inc.*^ 61,930 1,021,226
Motorola, Inc. 102,200 1,096,606
QUALCOMM, Inc. 27,000 1,114,560
-------------
5,865,996
-------------
COMPUTERS & PERIPHERALS (4.6%)
Apple Computer, Inc.* 25,000 565,750
Dell, Inc.* 32,000 1,044,160
Hewlett-Packard Co. 51,732 1,030,501
Seagate Technology 33,000 759,330
-------------
3,399,741
-------------
DIVERSIFIED TELECOMMUNICATION SERVICES (1.9%)
SBC Communications, Inc. 15,500 348,595
</Table>
See Accompanying Notes to Financial Statements.
<Page>
<Table>
<Caption>
NUMBER OF
SHARES VALUE
------------- -------------
Time Warner Telecom, Inc. Class A* 179,000 $ 1,045,360
-------------
1,393,955
-------------
ELECTRICAL EQUIPMENT (2.4%)
Harris Corp. 53,100 1,762,920
-------------
HEALTHCARE EQUIPMENT & SUPPLIES (4.7%)
Arrow International, Inc. 24,000 620,640
Biomet, Inc. 44,000 1,308,120
Medtronic, Inc. 31,500 1,561,770
-------------
3,490,530
-------------
HOUSEHOLD DURABLES (0.6%)
Garmin, Ltd. 12,000 479,640
-------------
INTERNET & CATALOG RETAIL (0.5%)
eBay, Inc.* 7,000 388,710
-------------
INTERNET SOFTWARE & SERVICES (1.8%)
VeriSign, Inc.* 65,500 980,535
Yahoo!, Inc.* 12,000 400,800
-------------
1,381,335
-------------
IT CONSULTING & SERVICES (0.9%)
Titan Corp.* 40,000 643,200
-------------
MEDIA (12.5%)
AOL Time Warner, Inc.* 49,433 808,724
Clear Channel Communications, Inc. 48,100 2,170,272
Cox Radio, Inc. Class A* 34,500 832,830
Gannett Company, Inc. 10,500 823,410
Liberty Media Corp. Class A* 225,000 2,722,500
Metro-Goldwyn-Mayer, Inc.*^ 30,800 445,984
Viacom, Inc. Class B 33,500 1,507,500
-------------
9,311,220
-------------
PHARMACEUTICALS (1.3%)
Andrx Corp.* 52,000 936,000
-------------
SEMICONDUCTOR EQUIPMENT & PRODUCTS (8.4%)
Analog Devices, Inc.* 12,600 516,600
Fairchild Semiconductor International, Inc.* 84,000 1,486,800
Intel Corp. 101,000 2,890,620
Micron Technology, Inc.* 93,300 1,339,788
-------------
6,233,808
-------------
SOFTWARE (17.6%)
Activision, Inc.* 63,000 813,330
Adobe Systems, Inc. 42,000 1,630,860
Electronic Arts, Inc.* 12,900 1,157,775
Hyperion Solutions Corp.* 20,000 659,600
Micromuse, Inc.* 48,000 392,640
Microsoft Corp. 94,250 2,499,510
Network Associates, Inc.* 47,000 654,240
Oracle Corp.* 120,000 1,533,600
PeopleSoft, Inc.* 33,000 597,300
Take-Two Interactive Software, Inc.* 33,500 997,295
</Table>
See Accompanying Notes to Financial Statements.
<Page>
<Table>
<Caption>
NUMBER OF
SHARES VALUE
------------- -------------
THQ, Inc.* 34,500 $ 541,650
VERITAS Software Corp.* 45,875 1,581,770
-------------
13,059,570
-------------
TOTAL UNITED STATES 51,819,985
-------------
TOTAL COMMON STOCKS (COST $72,268,155) 70,054,708
-------------
SHORT-TERM INVESTMENTS (4.9%)
AIM Institutional Fund - Liquid Asset Portfolio#
(Cost $1,984,500) 1,984,500 1,984,500
-------------
<Caption>
PAR
(000)
-------------
State Street Bank and Trust Co. Euro Time Deposit, 0.750%,
9/02/03 (Cost $1,637,000) $ 1,637 1,637,000
-------------
TOTAL INVESTMENTS AT VALUE (99.2%) (COST $75,889,655) 73,676,208
OTHER ASSETS IN EXCESS OF LIABILITIES (0.8%) 620,710
-------------
NET ASSETS (100.0%) $ 74,296,918
=============
</Table>
See Accompanying Notes to Financial Statements.
<Page>
INVESTMENT ABBREVIATIONS
ADR = American Depository Receipt
- ----------
* Non-income producing security.
^ Security or portion thereof is out on loan.
# Represents security purchased with cash collateral received for securities
on loan.
<Page>
CREDIT SUISSE GLOBAL HEALTH SCIENCES FUND
SCHEDULE OF INVESTMENTS
August 31, 2003
<Table>
<Caption>
NUMBER OF
SHARES VALUE
------------- -------------
COMMON STOCKS (96.7%)
ISRAEL (2.6%)
PHARMACEUTICALS (2.6%)
Teva Pharmaceutical Industries, Ltd. ADR 19,200 $ 1,127,270
-------------
TOTAL ISRAEL 1,127,270
-------------
UNITED KINGDOM (4.3%)
PHARMACEUTICALS (4.3%)
Galen Holdings PLC ADR 21,500 864,730
Shire Pharmaceuticals Group PLC ADR* 41,200 957,900
-------------
TOTAL UNITED KINGDOM 1,822,630
-------------
UNITED STATES (89.8%)
BIOTECHNOLOGY (23.6%)
Affymetrix, Inc.* 95,500 2,198,410
Amgen, Inc.* 22,700 1,495,930
Cubist Pharmaceuticals, Inc.* 22,300 294,360
IDEC Pharmaceuticals Corp.* 58,000 2,015,500
Invitrogen Corp.* 29,400 1,695,498
MedImmune, Inc.* 33,800 1,178,606
OSI Pharmaceuticals, Inc.* 13,900 529,590
Protein Design Labs, Inc.* 50,300 618,690
-------------
10,026,584
-------------
HEALTHCARE EQUIPMENT & SUPPLIES (9.9%)
Fisher Scientific International, Inc.* 26,700 1,047,174
Medtronic, Inc. 36,100 1,789,838
Respironics, Inc.* 20,200 841,532
Therasense, Inc.* 38,600 550,050
-------------
4,228,594
-------------
HEALTHCARE PROVIDERS & SERVICES (33.8%)
Accredo Health, Inc.* 30,500 720,410
AdvancePCS* 18,000 723,240
AmerisourceBergen Corp. 11,100 646,131
Anthem, Inc.* 30,800 2,254,560
Caremark Rx, Inc.* 28,200 708,666
Community Health Systems, Inc.* 29,800 685,102
Express Scripts, Inc.* 22,800 1,477,668
HCA, Inc. 13,300 505,267
Health Management Associates, Inc. Class A 38,700 862,236
Laboratory Corporation of America Holdings* 20,952 633,798
LifePoint Hospitals, Inc.* 44,200 1,273,402
Omnicare, Inc. 35,700 1,210,230
Quest Diagnostics, Inc.* 12,800 768,000
Select Medical Corp.* 29,700 855,360
WebMD Corp.* 104,500 1,076,350
-------------
14,400,420
-------------
IT CONSULTING & SERVICES (1.9%)
Priority Healthcare Corp. Class B* 38,600 815,232
-------------
PHARMACEUTICALS (20.6%)
Andrx Corp.* 41,900 754,200
CollaGenex Pharmaceuticals, Inc.* 64,400 752,192
King Pharmaceuticals, Inc.* 98,249 1,380,399
</Table>
See Accompanying Notes to Financial Statements.
<Page>
<Table>
<Caption>
NUMBER OF
SHARES VALUE
------------- -------------
Mylan Laboratories, Inc. 50,100 $ 1,823,640
Sepracor, Inc.* 70,200 1,889,784
SICOR, Inc.* 91,400 1,814,290
Watson Pharmaceuticals, Inc.* 8,600 353,460
-------------
8,767,965
-------------
TOTAL UNITED STATES 38,238,795
-------------
TOTAL COMMON STOCKS (COST $35,074,578) 41,188,695
-------------
<Caption>
PAR
(000)
-------------
SHORT-TERM INVESTMENT (3.5%)
State Street Bank and Trust Co. Euro Time Deposit, 0.750%,
9/02/03 (Cost $1,502,000) $ 1,502 1,502,000
-------------
TOTAL INVESTMENTS AT VALUE (100.2%) (COST $36,576,578) 42,690,695
LIABILITIES IN EXCESS OF OTHER ASSETS (-0.2%) (100,712)
-------------
NET ASSETS (100.0%) $ 42,589,983
=============
</Table>
See Accompanying Notes to Financial Statements.
<Page>
INVESTMENT ABBREVIATIONS
ADR = American Depository Receipt
- ----------
* Non-income producing security.
<Page>
CREDIT SUISSE FUNDS
STATEMENTS OF ASSETS AND LIABILITIES
August 31, 2003
<Table>
<Caption>
GLOBAL GLOBAL
TECHNOLOGY HEALTH SCIENCES
FUND FUND
-------------- ---------------
ASSETS
Investments at value, including collateral for securities on
loan of $1,984,500 and $0, respectively (Cost $75,889,655
and $36,576,578, respectively) (Note 1) $ 73,676,208(1) $ 42,690,695
Cash 30 634
Foreign currency at value (cost $750,168 and $0, respectively) 755,807 -
Dividend and interest receivable 8,782 6,095
Receivable for fund shares sold 545,680 641
Receivable from investment adviser (Note 2) 162,997 6,711
Receivable for investments sold 1,432,675 -
Prepaid expenses and other assets 21,878 15,465
-------------- ---------------
Total Assets 76,604,057 42,720,241
-------------- ---------------
LIABILITIES
Advisory fee payable (Note 2) 130,925 -
Administrative services fee payable (Note 2) 10,390 8,038
Distribution fee payable (Note 2) 15,020 8,898
Payable upon return of securities loaned (Note 1) 1,984,500 -
Payable for fund shares redeemed 54,271 43,101
Other accrued expenses payable 112,033 70,221
-------------- ---------------
Total Liabilities 2,307,139 130,258
-------------- ---------------
NET ASSETS
Capital stock, $0.001 par value (Note 5) 3,140 2,543
Paid-in capital (Note 5) 311,216,937 43,254,154
Accumulated net investment loss (66,641) -
Accumulated net realized loss on investments
and foreign currency transactions (234,638,722) (6,781,070)
Net unrealized appreciation (depreciation) from investments
and foreign currency translations (2,217,796) 6,114,356
-------------- ---------------
Net Assets $ 74,296,918 $ 42,589,983
============== ===============
COMMON SHARES
Net assets $ 72,875,814 $ 42,474,632
Shares outstanding 3,079,732 2,536,166
-------------- ---------------
Net asset value, offering price, and redemption price per share $ 23.66 $ 16.75
============== ===============
A SHARES
Net assets $ 1,421,104 $ 115,351
Shares outstanding 60,058 6,887
-------------- ---------------
Net asset value and redemption price per share $ 23.66 $ 16.75
============== ===============
Maximum offering price per share
(net asset value/(1-5.75%)) $ 25.10 $ 17.77
============== ==============
</Table>
- ----------
(1) Including $1,934,072 of securities on loan.
See Accompanying Notes to Financial Statements.
<Page>
STATEMENTS OF OPERATIONS
For the Year Ended August 31, 2003
<Table>
<Caption>
GLOBAL GLOBAL
TECHNOLOGY HEALTH SCIENCES
FUND FUND
-------------- ---------------
INVESTMENT INCOME (Note 1)
Dividends $ 462,329 $ 107,152
Interest 17,353 6,235
Securities lending 16,244 -
Foreign taxes withheld (46,255) (1,403)
-------------- ---------------
Total investment income 449,671 111,984
-------------- ---------------
EXPENSES
Investment advisory fees (Note 2) 673,131 420,751
Administrative services fees (Note 2) 78,959 70,057
Distribution fees (Note 2) 168,283 105,188
Transfer agent fees (Note 2) 467,915 169,956
Printing fees (Note 2) 83,741 55,581
Legal fees 54,775 75,703
Registration fees 33,954 33,728
Audit fees 27,933 20,377
Custodian fees 25,674 3,249
Directors' fees 12,444 10,972
Insurance expense 10,194 8,871
Interest expense 2,729 1,861
Miscellaneous expense 9,082 7,865
-------------- ---------------
Total expenses 1,648,814 984,159
Less: fees waived (Note 2) (538,153) (315,154)
-------------- ---------------
Net expenses 1,110,661 669,005
-------------- ---------------
Net investment loss (660,990) (557,021)
-------------- ---------------
NET REALIZED AND UNREALIZED GAIN (LOSS) FROM INVESTMENTS
AND FOREIGN CURRENCY RELATED ITEMS
Net realized loss from investments (15,483,424) (3,734,515)
Net realized loss on foreign currency transactions (73,745) -
Net change in unrealized appreciation (depreciation) from
investments 31,175,560 13,016,923
Net change in unrealized appreciation (depreciation) from
foreign currency translations (59,508) 80
-------------- ---------------
Net realized and unrealized gain from investments
and foreign currency related items 15,558,883 9,282,488
-------------- ---------------
Net increase in net assets resulting from operations $ 14,897,893 $ 8,725,467
============== ===============
</Table>
See Accompanying Notes to Financial Statements.
<Page>
STATEMENTS OF CHANGES IN NET ASSETS
<Table>
<Caption>
GLOBAL TECHNOLOGY FUND GLOBAL HEALTH SCIENCES FUND
-------------------------------- --------------------------------
FOR THE YEAR ENDED AUGUST 31, FOR THE YEAR ENDED AUGUST 31,
-------------------------------- --------------------------------
2003 2002 2003 2002
-------------- -------------- -------------- --------------
FROM OPERATIONS
Net investment loss $ (660,990) $ (1,021,530) $ (557,021) $ (977,229)
Net realized gain (loss) from investments
and foreign currency transactions (15,557,169) (88,225,291) (3,734,515) 2,371,402
Net change in unrealized appreciation (depreciation)
from investments and foreign currency translations 31,116,052 38,485,777 13,017,003 (21,722,994)
-------------- -------------- -------------- --------------
Net increase (decrease) in net assets resulting from
operations 14,897,893 (50,761,044) 8,725,467 (20,328,821)
-------------- -------------- -------------- --------------
FROM CAPITAL SHARE TRANSACTIONS (Note 5)
Proceeds from sale of shares 8,884,366 43,813,941 2,304,707 20,189,724
Exchange value of shares due to merger - 7,288,417 - -
Net asset value of shares redeemed (22,147,764) (75,183,945) (12,955,381) (56,446,309)
-------------- -------------- -------------- --------------
Net decrease in net assets
from capital share transactions (13,263,398) (24,081,587) (10,650,674) (36,256,585)
-------------- -------------- -------------- --------------
Net increase (decrease) in net assets 1,634,495 (74,842,631) (1,925,207) (56,585,406)
NET ASSETS
Beginning of year 72,662,423 147,505,054 44,515,190 101,100,596
-------------- -------------- -------------- --------------
End of year $ 74,296,918 $ 72,662,423 $ 42,589,983 $ 44,515,190
============== ============== ============== ==============
ACCUMULATED NET INVESTMENT LOSS $ (66,641) $ (70,692) $ - $ -
============== ============== ============== ==============
</Table>
See Accompanying Notes to Financial Statements.
<Page>
CREDIT SUISSE GLOBAL TECHNOLOGY FUND
FINANCIAL HIGHLIGHTS
(For a Common Class Share of the Fund Outstanding Throughout Each Year)
<Table>
<Caption>
FOR THE YEAR ENDED AUGUST 31,
----------------------------------------------------------------------------------
2003 2002 2001 2000 1999
---------- ---------- ---------- ---------- ----------
PER SHARE DATA
Net asset value, beginning of period $ 19.00 $ 29.11 $ 69.11 $ 41.22 $ 20.54
---------- ---------- ---------- ---------- ----------
INVESTMENT OPERATIONS
Net investment loss (0.21)(1) (0.28)(1) (0.75) (0.44) (0.04)
Net gain (loss) on investments
and foreign currency related items
(both realized and unrealized) 4.87 (9.83) (36.86) 29.56 23.56
---------- ---------- ---------- ---------- ----------
Total from investment operations 4.66 (10.11) (37.61) 29.12 23.52
---------- ---------- ---------- ---------- ----------
LESS DISTRIBUTIONS
Distributions from net realized gains - - (2.39) (1.23) (2.84)
---------- ---------- ---------- ---------- ----------
NET ASSET VALUE, END OF PERIOD $ 23.66 $ 19.00 $ 29.11 $ 69.11 $ 41.22
========== ========== ========== ========== ==========
Total return(2) 24.53% (34.73)% (55.72)% 70.99% 120.73%
RATIOS AND SUPPLEMENTAL DATA
Net assets, end of period (000s omitted) $ 72,876 $ 71,473 $ 147,504 $ 471,455 $ 65,165
Ratio of expenses to average net
assets 1.65%(3) 1.65%(3) 1.67%(3) 1.66%(3) 1.65%
Ratio of net investment loss
to average net assets (0.98)% (0.90)% (1.14)% (0.89)% (0.35)%
Decrease reflected in above operating
expense ratios due to
waivers/reimbursements 0.80% 0.51% 0.15% 0.11% 0.87%
Portfolio turnover rate 31% 68% 100% 143% 203%
</Table>
- ----------
(1) Per share information is calculated using the average share outstanding
method.
(2) Total returns are historical and assume changes in share price and
reinvestment of all dividends and distributions. Had certain expenses not
been reduced during the periods shown, total returns would have been lower.
(3) Interest earned on uninvested cash balances is used to offset portions of
the transfer agent expenses. These arrangements resulted in a reduction to
the net expense ratio by .00%, .02% and .02% for the years ended August 31,
2002, 2001 and 2000, respectively. The operating expense ratio after
reflecting these arrangements was 1.65%, 1.65% and 1.64% for the years
ended August 31, 2002, 2001 and 2000, respectively. For the year ended
August 31, 2003, there were no transfer agent credits.
See Accompanying Notes to Financial Statements.
<Page>
CREDIT SUISSE GLOBAL TECHNOLOGY FUND
FINANCIAL HIGHLIGHTS
(For a Class A Share of the Fund Outstanding Throughout Each Period)
<Table>
<Caption>
FOR THE YEAR FOR THE PERIOD
ENDED ENDED
AUGUST 31, 2003 AUGUST 31, 2002(1)
--------------- ------------------
PER SHARE DATA
Net asset value, beginning of period $ 19.00 $ 29.42
-------------- --------------
INVESTMENT OPERATIONS
Net investment loss(2) (0.16) (0.17)
Net gain (loss) on investments and foreign currency
related items (both realized and unrealized) 4.82 (10.25)
-------------- --------------
Total from investment operations 4.66 (10.42)
-------------- --------------
NET ASSET VALUE, END OF PERIOD $ 23.66 $ 19.00
============== ==============
Total return(3) 24.53% (35.42)%
RATIOS AND SUPPLEMENTAL DATA
Net assets, end of period (000s omitted) $ 1,421 $ 1,190
Ratio of expenses to average net assets(4) 1.65% 1.65%(5)
Ratio of net investment loss to average net assets (0.98)% (1.03)%(5)
Decrease reflected in above operating expense
ratios due to waivers/reimbursements 0.84% 0.76%(5)
Portfolio turnover rate 31% 68%
</Table>
- ----------
(1) For the period November 30, 2001 (inception date) through August 31, 2002.
(2) Per share information is calculated using the average share outstanding
method.
(3) Total returns are historical and assume changes in share price,
reinvestment of all dividends and distributions, and no sales charge. Had
certain expenses not been reduced during the periods shown, total returns
would have been lower. Total returns for periods less than one year are not
annualized.
(4) Interest earned on uninvested cash balances is used to offset portions of
the transfer agent expenses. These arrangements had no effect on the Fund's
Class A expense ratio. For the year ended August 31, 2003, there were no
transfer agent credits.
(5) Annualized.
See Accompanying Notes to Financial Statements.
<Page>
CREDIT SUISSE GLOBAL HEALTH SCIENCES FUND
FINANCIAL HIGHLIGHTS
(For a Common Class Share of the Fund Outstanding Throughout Each Year)
<Table>
<Caption>
FOR THE YEAR
ENDED
FOR THE YEAR ENDED AUGUST 31, OCTOBER 31,
---------------------------------------------------------- ------------
2003 2002 2001 2000(1) 1999
---------- ---------- ---------- ---------- ------------
PER SHARE DATA
Net asset value, beginning of period $ 13.62 $ 18.85 $ 23.95 $ 14.92 $ 14.41
---------- ---------- ---------- ---------- -----------
INVESTMENT OPERATIONS
Net investment loss (0.19)(2) (0.23)(2) (0.10) (0.08) (0.13)
Net gain (loss) on investments
and foreign currency related items
(both realized and unrealized) 3.32 (5.00) (3.08) 9.11 0.64
---------- ---------- ---------- ---------- -----------
Total from investment operations 3.13 (5.23) (3.18) 9.03 0.51
---------- ---------- ---------- ---------- -----------
LESS DISTRIBUTIONS
Distributions from net realized gains - - (1.92) - -
---------- ---------- ---------- ---------- -----------
NET ASSET VALUE, END OF PERIOD $ 16.75 $ 13.62 $ 18.85 $ 23.95 $ 14.92
========== ========== ========== ========== ===========
Total return(3) 22.98% (27.75)% (14.44)% 60.52% 3.54%
RATIOS AND SUPPLEMENTAL DATA
Net assets, end of period (000s omitted) $ 42,475 $ 44,484 $ 101,101 $ 90,801 $ 47,574
Ratio of expenses to average net assets(4) 1.59% 1.59% 1.60% 1.61%(5) 1.59%
Ratio of net investment income (loss)
to average net assets (1.32)% (1.30)% (1.05)% (0.94)%(5) 0.62%
Decrease reflected in above operating
expense ratios due to waivers/reimbursements 0.75% 0.56% 0.26% 0.28%(5) 0.29%
Portfolio turnover rate 13% 67% 35% 106% 146%
</Table>
- ----------
(1) Effective May 1, 2000, Global Health Sciences Fund changed its fiscal and
tax year ends from October 31st to August 31st.
(2) Per share information is calculated using the average share outstanding
method.
(3) Total returns are historical and assume changes in share price and
reinvestment of all dividends and distributions. Had certain expenses not
been reduced during the periods shown, total returns would have been lower.
Total returns for periods less than one year are not annualized.
(4) Interest earned on uninvested cash balances is used to offset portions of
the transfer agent expenses. These arrangements resulted in a reduction to
the net expense ratio by .00% and .01% for the years ended August 31, 2002
and 2001, respectively, and .02% annualized for the period November 1, 1999
to August 31, 2000. These arrangements had no effect on the Fund's expense
ratios for previous periods. The operating expense ratio after reflecting
these arrangements was 1.59% for the years ended August 31, 2002 and 2001,
respectively, and 1.59% annualized for the period November 1, 1999 to
August 31, 2000. For the year ended August 31, 2003, there were no transfer
agent credits.
(5) Annualized.
See Accompanying Notes to Financial Statements.
<Page>
CREDIT SUISSE GLOBAL HEALTH SCIENCES FUND
FINANCIAL HIGHLIGHTS
(For a Class A Share of the Fund Outstanding Throughout Each Period)
<Table>
<Caption>
FOR THE YEAR FOR THE PERIOD
ENDED ENDED
AUGUST 31, 2003 AUGUST 31, 2002(1)
--------------- ------------------
PER SHARE DATA
Net asset value, beginning of period $ 13.62 $ 19.76
--------------- ------------------
INVESTMENT OPERATIONS
Net investment loss(2) (0.19) (0.14)
Net gain (loss) on investments
and foreign currency related items
(both realized and unrealized) 3.32 (6.00)
--------------- ------------------
Total from investment operations 3.13 (6.14)
--------------- ------------------
NET ASSET VALUE, END OF PERIOD $ 16.75 $ 13.62
=============== ==================
Total return(3) 22.98% (31.07)%
RATIOS AND SUPPLEMENTAL DATA
Net assets, end of period (000s omitted) $ 115 $ 31
Ratio of expenses to average net assets(4) 1.59% 1.59%(5)
Ratio of net investment loss
to average net assets (1.32)% (1.32)%(5)
Decrease reflected in above operating expense
ratios due to waivers/reimbursements 0.75% 1.24%(5)
Portfolio turnover rate 13% 67%
</Table>
- ----------
(1) For the period November 30, 2001 (inception date) through August 31, 2002.
(2) Per share information is calculated using the average share outstanding
method.
(3) Total returns are historical and assume changes in share price,
reinvestment of all dividends and distributions, and no sales charge. Had
certain expenses not been reduced during the periods shown, total returns
would have been lower. Total returns for periods less than one year are not
annualized.
(4) Interest earned on uninvested cash balances is used to offset portions of
the transfer agent expenses. These arrangements had no effect on the Fund's
Class A expense ratio. For the year ended August 31, 2003, there were no
transfer agent credits.
(5) Annualized.
See Accompanying Notes to Financial Statements.
<Page>
CREDIT SUISSE FUNDS
NOTES TO FINANCIAL STATEMENTS
August 31, 2003
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Credit Suisse Funds covered in this report are Credit Suisse Global
Technology Fund, Inc. ("Global Technology") and Credit Suisse Global Health
Sciences Fund, Inc. ("Global Health Sciences") (each, a "Fund" and collectively,
the "Funds"), which are registered under the Investment Company Act of 1940, as
amended (the "1940 Act"), as non-diversified, open-end management investment
companies. Global Technology and Global Health Sciences Funds were incorporated
under the laws of the State of Maryland on July 31, 1998 and October 24, 1996,
respectively.
Investment objectives for each Fund are as follows: Global Technology seeks
long-term capital appreciation; Global Health Sciences seeks capital
appreciation.
Global Technology is authorized to offer four classes of shares: Common
Class, Institutional Class, Advisor Class and Class A, although only Common
Class and Class A shares are offered. Global Health Sciences is authorized to
issue three classes of shares: Common Class, Advisor Class, and Class A,
although only Common Class and Class A shares are being offered. Effective
December 12, 2001, the Funds closed the Common Class shares to new investors.
Common Class shares for each Fund bear expenses paid pursuant to a distribution
agreement at an annual rate of 0.25% of the average daily net assets of each
Fund's Common Class shares. Class A shares are sold with a front-end sales
charge of up to 5.75% and bear expenses paid pursuant to a plan of distribution
at an annual rate of 0.25% of the average daily net assets of each Fund's Class
A shares. In addition, the Common Class and Class A shares bear
co-administration fees.
Effective as of the close of business on April 26, 2002, the Global
Technology Fund acquired all of the net assets of the Credit Suisse Technology
Fund ("Technology Fund") in a tax-free exchange of shares. The shares exchanged
were 221,743 shares of the Common Class shares of Global Technology (valued at
$5,507,646) for 1,495,563 shares of the Common Class of the Technology Fund,
34,693 shares of Class A shares of Global Technology (valued at $861,096) for
235,172 shares of the Class A Shares of the Technology Fund, 24,002 shares of
Class A shares of Global Technology (valued at $595,518) for 162,261 shares of
the Class B Shares of the Technology Fund, 13,068 shares of Class A shares of
Global Technology (valued at $324,157) for 89,071 shares of the Class C Shares
of the Technology Fund. The aggregate net assets of Technology and Global
Technology immediately before the acquisition were $7,288,417 which included
($8,507,702) of unrealized depreciation and $99,665,575 respectively, and the
combined net assets of the Global Technology after the acquisition were
$106,953,992.
A) SECURITY VALUATION - The net asset value of each Fund is determined daily
as of the close of regular trading on The New York Stock Exchange, Inc. (the
"Exchange") on each day the Exchange is open for business. Each Fund's equity
investments are valued at market value, which is generally determined using the
closing price on the exchange or market on which the security is primarily
traded at the time of
<Page>
valuation (the "Valuation Time"). If no sales are reported, equity investments
are generally valued at the most recent bid quotation as of the Valuation Time
or at the lowest asked quotation in the case of a short sale of securities. Debt
securities with a remaining maturity greater than 60 days are valued in
accordance with the price supplied by a pricing service, which may use a matrix,
formula or other objective method that takes into consideration market indices,
yield curves and other specific adjustments. Securities and other assets for
which market quotations are not readily available are valued at fair value as
determined in good faith by the Board of Directors under procedures established
by the Board of Directors in the absence of readily ascertainable market values.
Debt obligations that will mature in 60 days or less are valued on the basis of
amortized cost, which approximates market value, unless it is determined that
this method would not represent fair value.
B) FOREIGN CURRENCY TRANSACTIONS - The books and records of the Funds are
maintained in U.S. dollars. Transactions denominated in foreign currencies are
recorded at the current prevailing exchange rates. All assets and liabilities
denominated in foreign currencies are translated into U.S. dollar amounts at the
current exchange rate at the end of the period. Translation gains or losses
resulting from changes in the exchange rate during the reporting period and
realized gains and losses on the settlement of foreign currency transactions are
reported in the results of operations for the current period. The Funds do not
isolate that portion of realized gains and losses on investments in equity
securities which is due to changes in the foreign exchange rate from that which
is due to changes in market prices of equity securities. The Funds isolate that
portion of realized gains and losses on investments in debt securities which is
due to changes in the foreign exchange rate from that which is due to changes in
market prices of debt securities.
C) SECURITY TRANSACTIONS AND INVESTMENT INCOME - Security transactions are
accounted for on a trade date basis. Interest income is recorded on the accrual
basis. Dividends are recorded on the ex-dividend date. Certain expenses are
class-specific expenses and vary by class. Income, expenses (excluding
class-specific expenses) and realized/unrealized gains/losses are allocated
proportionately to each class of shares based upon the relative net asset value
of the outstanding shares of that class. The cost of investments sold is
determined by use of the specific identification method for both financial
reporting and income tax purposes.
D) DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS - Dividends from net
investment income and distributions of net realized capital gains, if any, are
declared and paid at least annually. However, to the extent that a net realized
capital gain can be reduced by a capital loss carryforward, such gain will not
be distributed. Income and capital gain distributions are determined in
accordance with federal income tax regulations, which may differ from accounting
principles generally accepted in the United States of America ("GAAP").
E) FEDERAL INCOME TAXES - No provision is made for federal taxes as it is
each Fund's intention to continue to qualify for and elect the tax treatment
applicable to
<Page>
regulated investment companies under the Internal Revenue Code of 1986, as
amended, and make the requisite distributions to its shareholders which will be
sufficient to relieve it from federal income and excise taxes.
F) USE OF ESTIMATES - The preparation of financial statements in conformity
with GAAP requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period. Actual results could
differ from these estimates.
G) SHORT-TERM INVESTMENTS - The Funds, together with other funds/portfolios
advised by Credit Suisse Asset Management, LLC ("CSAM"), an indirect,
wholly-owned subsidiary of Credit Suisse Group, pool available cash into either
a short-term variable rate time deposit issued by State Street Bank and Trust
Company ("SSB"), the Funds' custodian, or a money market fund advised by CSAM.
The short-term time deposit issued by SSB is a variable rate account classified
as a short-term investment.
H) FORWARD FOREIGN CURRENCY CONTRACTS - Each Fund may enter into forward
foreign currency contracts for the purchase or sale of a specific foreign
currency at a fixed price on a future date. Risks may arise upon entering into
these contracts from the potential inability of counter parties to meet the
terms of their contracts and from unanticipated movements in the value of a
foreign currency. Each Fund will enter into forward foreign currency contracts
primarily for hedging purposes. Forward foreign currency contracts are adjusted
by the daily exchange rate of the underlying currency and any gains or losses
are recorded for financial statement purposes as unrealized until the contract
settlement date or an offsetting position is entered into. At August 31, 2003,
the Funds had no open forward foreign currency contracts.
I) SHORT SALES -- When CSAM believes that a security is overvalued, it may
sell the security short by borrowing the same security from a broker or other
institution and selling the security. A Fund will incur a loss as a result of
the short sale if the price of the borrowed security increases between the date
of the short sale and the date on which the Fund replaces such security. The
Fund will realize a gain if there is a decline in the price of the security
between those dates, if the decline exceeds the cost of borrowing the security
and other transaction costs. There can be no assurance that a Fund will be able
to close out a short position at any particular time or at an acceptable price.
Although the Fund's gain is limited to the amount at which it has sold a
security short, its potential loss is limited only by the maximum attainable
price of the security less the price at which the security was sold. Until a
Fund replaces a borrowed security, it will maintain at all times cash or other
liquid securities in an amount which, when added to any amount deposited with a
broker as collateral will at least equal the current market value of the
security sold short. Depending on arrangements made with the broker, a Fund may
not receive any payments (including interest) on collateral deposited with them.
A Fund will not make a short sale if, after giving effect to such sale, the
market value of all securities sold short exceeds 10% of the value of its net
assets.
<Page>
J) SECURITIES LENDING -- Loans of securities are required at all times to be
secured by collateral at least equal to 102% of the market value of domestic
securities on loan including any accrued interest thereon and 105% of the market
value of foreign securities on loan including any accrued interest thereon. Cash
collateral received by the Funds in connection with securities lending activity
is invested in a variety of investments including certain CSAM-advised funds or
the AIM Institutional Funds - Liquid Asset Portfolio. However, in the event of
default or bankruptcy by the other party to the agreement, realization and/or
retention of the collateral may be subject to legal proceedings.
The market value of securities on loan to brokers and the value of collateral
held by Global Technology with respect to such loans at August 31, 2003 was as
follows:
<Table>
<Caption>
MARKET VALUE OF VALUE OF
SECURITIES LOANED COLLATERAL RECEIVED
----------------- -------------------
$ 1,934,072 $ 1,984,500
</Table>
Credit Suisse First Boston ("CSFB"), an affiliate of CSAM, has been engaged
by Global Technology and Global Health Sciences to act as each Fund's securities
lending agent. Prior to April 1, 2003, CSFB had agreed to charge each Fund fees
for its securities lending activities equal to its costs in providing services
as securities lending agent and had voluntarily waived such fees through March
31, 2003. Effective April 1, 2003, the Funds and CSFB entered into an
arrangement to share the income earned from securities lending activities,
whereby, generally, each Fund will receive 75% and CSFB will receive 25% of the
income, in accordance with the provisions of the securities lending agency
agreement. If CSFB should enter into a securities lending agency agreement with
another comparable investment company client under which it will receive a
smaller proportion of the fees, its fee agreement with each Fund shall be
reduced to such lower fee amount.
K) OTHER -- The Funds may invest in securities of foreign countries and
governments, which involve certain risks in addition to those inherent in
domestic investments. Such risks generally include, among others, currency risk
(fluctuations in currency exchange rates), information risk (key information may
be inaccurate or unavailable) and political risk (expropriation, nationalization
or the imposition of capital or currency controls or punitive taxes). Other
risks of investing in foreign securities include liquidity and valuation risks.
The Funds may be subject to taxes imposed by countries in which they invest,
with respect to their investments in issuers existing or operating in such
countries. Such taxes are generally based on income earned or repatriated and
capital gains realized on the sale
<Page>
of such investments. The Funds accrue such taxes when the related income or
gains are earned.
The Funds invest a high percentage of their assets in specific sectors of the
market, especially technology and health sciences. As a result, the financial,
economic, business and political developments in a particular sector of the
market, positive or negative, have a greater impact on each Fund's net asset
value and will cause its shares to fluctuate more than if the fund did not
concentrate its investments in a particular sector. Each fund under normal
market conditions, invests at least 80% of their net assets, plus borrowings for
investment purposes in a group of related industries within the technology and
health sciences sectors, as applicable, of the market.
NOTE 2. TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES
CSAM serves as investment adviser for the Funds. For its investment advisory
services, CSAM is entitled to receive a fee from each Fund at an annual rate of
1.00% of its average daily net assets. For the year ended August 31, 2003,
investment advisory fees earned and voluntarily waived for each Fund were as
follows:
<Table>
<Caption>
GROSS NET
ADVISORY ADVISORY
FUND FEE WAIVER FEE
- ---- -------- ------ --------
Global Technology $ 673,131 $ (538,153) $ 134,978
Global Health Sciences 420,751 (315,154) 105,597
</Table>
During the period covered by this report, CSAM determined that Global
Technology's advisory contract had lapsed due to an administrative error. CSAM
has taken all necessary steps to remedy this error, including obtaining Board of
Directors and Shareholder approval of retention or payment of fees paid or
payable to CSAM during the period the contract had lapsed and approval of a new
contract on the same terms as in the lapsed contract.
Credit Suisse Asset Management Limited (CSAM U.K.) ("CSAM Ltd. U.K.") and
Credit Suisse Asset Management Limited (CSAM Japan) ("CSAM Ltd. Japan") each an
affiliate of CSAM, are sub-investment advisers to each Fund. CSAM Ltd. U.K. and
CSAM Ltd. Japan's sub-investment advisory fees are paid by CSAM out of CSAM's
net investment advisory fee and are not paid by the Funds.
Effective October 9, 2002, Credit Suisse Asset Management Limited (CSAM
Australia) ("CSAM Ltd. Australia"), an affiliate of CSAM, became a
sub-investment adviser to each Fund. CSAM Ltd. Australia's sub-investment
advisory fee is paid by CSAM out of CSAM's net investment advisory fee and is
not paid by the Funds.
<Page>
Credit Suisse Asset Management Securities, Inc. ("CSAMSI"), an affiliate of
CSAM, and SSB serve as each Fund's co-administrators.
For co-administrative services, CSAMSI currently receives a fee calculated at
an annual rate of 0.05% of Global Technology's average daily net assets of
Common Class shares and Class A shares. Prior to May 20, 2003 CSAMSI received a
fee calculated at an annual rate of 0.05% of Global Technology's first $125
million in average daily net assets and 0.10% of the average daily net assets
over $125 million. For Global Health Sciences, CSAMSI currently receives a fee
calculated at an annual rate of 0.10% of the Fund's average daily net assets of
Common Class shares and Class A shares.
For the year ended August 31, 2003, co-administrative services fees earned by
CSAMSI were as follows:
<Table>
<Caption>
FUND CO-ADMINISTRATIVE SERVICES FEE
---- ------------------------------
Global Technology $ 33,756
Global Health Sciences 42,075
</Table>
For its co-administrative services, SSB receives a fee, exclusive of
out-of-pocket expenses, based upon the following fee schedule calculated in
total for all the Credit Suisse Funds/Portfolios co-administered by SSB and
allocated based upon relative average net assets of each fund/portfolio subject
to an annual minimum fee.
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------ -----------
First $5 billion 0.050% of average daily net assets
Next $5 billion 0.035% of average daily net assets
Over $10 billion 0.020% of average daily net assets
</Table>
For the year ended August 31, 2003, co-administrative service fees earned by
SSB (including out-of-pocket expenses) were as follows:
<Table>
<Caption>
FUND CO-ADMINISTRATIVE SERVICES FEE
---- ------------------------------
Global Technology $ 45,203
Global Health Sciences 27,982
</Table>
In addition to serving as each Fund's co-administrator, CSAMSI currently
serves as distributor of each Fund's shares. Pursuant to a distribution plan
adopted by each Fund pursuant to Rule 12b-1 under the 1940 Act, CSAMSI receives
a fee for its distribution services. This fee is calculated at an annual rate of
0.25% of the average daily net assets of the Common Class shares of each Fund.
For Class A shares, the fee is calculated at an annual rate of 0.25% of the
average daily net assets of the Class A shares. For the year ended August 31,
2003, distribution fees earned by CSAMSI were as follows:
<Page>
<Table>
<Caption>
FUND DISTRIBUTION FEE
---- ----------------
Global Technology
Common Class $ 165,760
Class A 2,523
-----------
$ 168,283
===========
</Table>
<Table>
<Caption>
FUND DISTRIBUTION FEE
---- ----------------
Global Health Sciences
Common Class $ 104,967
Class A 221
----------
$ 105,188
==========
</Table>
Certain brokers, dealers and financial representatives provide transfer agent
related services to the Funds, and receive compensation from CSAM. CSAM is then
reimbursed by the Funds. For the year ended August 31, 2003, the Funds
reimbursed CSAM the following amounts, which is included in the Funds' transfer
agent expense as follows:
<Table>
<Caption>
FUND AMOUNT
---- ---------
Global Technology $ 134,497
Global Health Sciences 67,893
</Table>
For the year ended August 31, 2003, CSAMSI and its affiliates advised the
Funds that they retained the following amounts from commissions earned on the
sale of the Funds' Class A shares:
<Table>
<Caption>
FUND AMOUNT
---- ---------
Global Technology $ 4,195
Global Health Sciences 5,629
</Table>
For the year ended August 31, 2003, Global Health Sciences Fund paid CSFB
$20,091 in brokerage commissions.
For the year ended August 31, 2003, CSFB received $1,851 from securities
lending transactions for Global Technology.
Merrill Corporation ("Merrill"), an affiliate of CSAM, has been engaged by
the Funds to provide certain financial printing and fulfillment services. For
the year ended August 31, 2003, Merrill was paid for its services to the Funds
as follows:
<Table>
<Caption>
FUND AMOUNT
---- ---------
Global Technology $ 27,692
Global Health Sciences 34,710
</Table>
<Page>
NOTE 3. LINE OF CREDIT
The Funds, together with other funds/portfolios advised by CSAM
(collectively, the "Participating Funds"), participate in a $100 million
committed, unsecured line of credit facility ("Credit Facility") for temporary
or emergency purposes with Deutsche Bank, A.G. as administrative agent and
syndication agent and SSB as operations agent. Under the terms of the Credit
Facility, the Participating Funds pay an aggregate commitment fee at a rate of
0.10% per annum on the average unused amount of the Credit Facility, which is
allocated among the Participating Funds in such manner as is determined by the
governing Boards of the Participating Funds. In addition, the Participating
Funds pay interest on borrowings at the Federal Funds rate plus 0.50%. At August
31, 2003 and during the year ended August 31, 2003, the Funds had no borrowings
under the Credit Facility.
NOTE 4. PURCHASES AND SALES OF SECURITIES
For the year ended August 31, 2003, purchases and sales of investment
securities (excluding short-term investments) were as follows:
<Table>
<Caption>
FUND PURCHASES SALES
---- --------- -----
Global Technology $ 20,576,962 $ 34,869,991
Global Health Sciences 5,369,818 17,053,418
</Table>
NOTE 5. CAPITAL SHARE TRANSACTIONS
Each Fund is authorized to issue four billion full and fractional shares of
capital stock, $.001 par value per share. Transactions in capital shares for
each Fund were as follows:
<Table>
<Caption>
GLOBAL TECHNOLOGY
------------------------
COMMON CLASS
------------------------
FOR THE YEAR ENDED
------------------------
AUGUST 31, 2003 AUGUST 31, 2002
---------------------------------- ------------------------------------
SHARES VALUE SHARES VALUE
------ ----- ------ -----
Shares sold 397,379 $ 7,673,618 1,483,408 $ 40,699,743
Shares exchanged due to merger - - 221,743 5,507,646
Shares redeemed (1,079,934) (20,952,159) (3,010,011) (74,973,602)
---------- -------------- ---------- --------------
Net decrease (682,555) $ (13,278,541) (1,304,860) $ (28,766,213)
========== ============== ========== ==============
</Table>
<Table>
<Caption>
GLOBAL TECHNOLOGY
------------------------
CLASS A
------------------------
FOR THE YEAR ENDED
------------------------
AUGUST 31, 2003 AUGUST 31, 2002(1)
---------------------------------- ------------------------------------
SHARES VALUE SHARES VALUE
------ ----- ------ -----
Shares sold 55,680 $ 1,210,748 675 $ 3,114,198
Shares exchanged due to merger - - 71,763 1,780,771
Shares redeemed (58,250) (1,195,605) (9,810) (210,343)
------- -------------- ------ --------------
Net increase (decrease) (2,570) $ 15,143 62,628 $ 4,684,626
======= ============== ====== ==============
</Table>
<Page>
<Table>
<Caption>
GLOBAL HEALTH SCIENCES
------------------------------
COMMON CLASS
------------------------------
FOR THE YEAR ENDED
------------------------------
AUGUST 31, 2003 AUGUST 31, 2002
---------------------------------- ------------------------------------
SHARES VALUE SHARES VALUE
------ ----- ------ -----
Shares sold 149,078 $ 2,213,783 1,097,841 $ 20,153,575
Shares redeemed (879,677) (12,927,905) (3,195,361) (56,446,309)
-------- -------------- ---------- --------------
Net decrease (730,599) $ (10,714,122) (2,097,520) $ (36,392,734)
======== ============== ========== ==============
</Table>
<Table>
<Caption>
GLOBAL HEALTH SCIENCES
------------------------------
CLASS A
------------------------------
FOR THE YEAR ENDED
------------------------------
AUGUST 31, 2003 AUGUST 31, 2002(1)
---------------------------------- ------------------------------------
SHARES VALUE SHARES VALUE
------ ----- ------ -----
Shares sold 6,622 $ 90,924 2,260 $ 36,149
Shares redeemed (1,995) (27,476) - -
------ -------------- ----- --------------
Net increase 4,627 $ 63,448 2,260 $ 36,149
====== ============== ===== ==============
</Table>
- ----------
(1) For the period November 30, 2001 (inception date) through August 31, 2002.
On August 31, 2003, the number of shareholders that held 5% or more of the
outstanding shares of each class of the Funds were as follows:
<Table>
<Caption>
NUMBER OF APPROXIMATE PERCENTAGE
FUND SHAREHOLDERS OF OUTSTANDING SHARES
---------------------- ------------ ----------------------
Global Technology
Common Class 2 51%
Class A 1 30%
Global Health Sciences
Common Class 2 48%
Class A 6 63%
</Table>
Some of the shareholders are omnibus accounts, which hold shares on behalf of
several individual shareholders.
NOTE 6. FEDERAL INCOME TAXES
Income and capital gain distributions are determined in accordance with
federal income tax regulations, which may differ from GAAP. These differences
are primarily due to differing treatments of foreign currency transactions and
Post-October losses.
There were no distributions for the years ended August 31, 2002 and August
31, 2003 for either Fund.
<Page>
At August 31, 2003, the components of distributable earnings on a tax basis
were as follows:
<Table>
<Caption>
GLOBAL GLOBAL HEALTH
TECHNOLOGY SCIENCES
-------------- --------------
Undistributed ordinary income $ - $ -
Accumulated realized loss (223,508,133) (3,460,007)
Unrealized appreciation/(depreciation) (2,217,796) 6,114,356
Undistributed Ordinary Loss-Other (66,641) -
Undistributed Capital-Other (11,130,589) (3,321,063)
-------------- --------------
$ (236,923,159) $ (666,714)
============== ==============
</Table>
At August 31, 2003, each Fund had capital loss carryforwards available to
offset possible future capital gains as follows:
<Table>
<Caption>
EXPIRES AUGUST 31,
-------------------------------------------------------
FUND 2009 2010 2011
---- -------------- --------------- -------------
Global Technology $ (22,443,214) $ (128,849,577) $ (72,215,342)
Global Health Sciences (222,906) (2,823,649) (413,452)
</Table>
Included in the Global Technology capital loss carryforwards which expire in
2009 is $3,027,000 acquired in the Credit Suisse Technology Fund merger which is
subject to IRS limitations.
Under current tax law, certain capital and currency losses realized after
October 31 within a taxable year may be deferred and treated as occurring on the
first day of the following tax year. The Funds will be unable to realize the
benefit from these losses if they cannot realize gains on investments prior to
the expiration of the loss carryforwards. For the tax period ended August 31,
2003, each Fund elected to defer net capital and currency losses arising between
November 1, 2002 and August 31, 2003 as follows:
<Table>
<Caption>
FUND CAPITAL CURRENCY
---- ------------ --------
Global Technology $ 11,130,589 $ 66,641
Global Health Sciences 3,321,063 -
</Table>
At August 31, 2003, the identified cost for federal income tax purposes, as
well as the gross unrealized appreciation from investments for those securities
having an excess of value over cost, gross unrealized depreciation from
investments for those securities having an excess of cost over value and the net
unrealized appreciation (depreciation) from investments were as follows:
<Table>
<Caption>
NET UNREALIZED
GROSS UNREALIZED GROSS UNREALIZED APPRECIATION/
FUND IDENTIFIED COST APPRECIATION (DEPRECIATION) (DEPRECIATION)
---- --------------- ---------------- ---------------- --------------
Global Technology $ 75,889,655 $ 7,995,535 $ (10,208,982) $ (2,213,447)
Global Health Sciences 36,576,578 9,711,487 (3,597,370) 6,114,117
</Table>
At August 31, 2003, accumulated undistributed net investment loss,
accumulated net realized loss from investments and Paid-in Capital have been
adjusted for current period
<Page>
permanent book/tax differences, which arose principally from differing book/tax
treatments of net operating losses and foreign currency transactions. Net assets
were not affected by these reclassifications.
<Table>
<Caption>
ACCUMULATED NET
PAID-IN UNDISTRIBUTED NET REALIZED INCOME ON
FUND CAPITAL INVESTMENT INCOME INVESTMENTS
- ---- ----------- ----------------- ------------------
Global Technology $ (738,786) $ 665,041 $ 73,745
Global Health Sciences (557,021) 557,021 -
</Table>
NOTE 7. PROPOSED REORGANIZATION
On December 12, 2002 and February 13, 2003, respectively, the Board of
Directors of Global Health Sciences and Global Technology, respectively,
approved, subject to shareholder approval, a proposed reorganization (the
"Reorganization"). The Reorganization was approved by the shareholders of the
Funds on September 11, 2003 and September 30, 2003, respectively. When the
Reorganization is completed, each shareholder of the Funds will become a
shareholder of the Credit Suisse Global Post-Venture Capital Fund (the
"Acquiring Fund") and will receive on a tax-free basis, shares of the Acquiring
Fund with the same aggregate net asset value as their shares of their respective
Funds.
NOTE 8. SUBSEQUENT EVENT
On September 26, 2003, all of Global Health Sciences' net assets were
acquired by Credit Suisse Global Post-Venture Capital Fund, Inc. (the "Acquiring
Fund") in a tax-free exchange of shares (the "Global Health Sciences
Reorganization"). As a result of the Global Health Sciences Reorganization, each
Global Health Sciences shareholder became a shareholder of the Acquiring Fund
and received shares of the Acquiring Fund with the same aggregate net asset
value as their shares of Global Health Sciences. Global Health Sciences was
liquidated and will be subsequently dissolved.
On October 10, 2003, all of Global Technology's net assets were acquired by
Credit Suisse Global Post-Venture Capital Fund, Inc. (the "Acquiring Fund") in a
tax-free exchange of shares (the "Global Technology Reorganization"). As a
result of the Global Technology Reorganization, each Global Technology
shareholder became a shareholder of the Acquiring Fund and received shares of
the Acquiring Fund with the same aggregate net asset value as their shares of
Global Technology. Global Technology was liquidated and will be subsequently
dissolved.
<Page>
CREDIT SUISSE FUNDS
REPORT OF INDEPENDENT AUDITORS
To the Board of Directors and Shareholders of
Credit Suisse Global Technology Fund, Inc.;
Credit Suisse Global Health Sciences Fund, Inc.:
In our opinion, the accompanying statements of assets and liabilities, including
the schedules of investments, and the related statements of operations and of
changes in net assets and the financial highlights present fairly, in all
material respects, the financial position of Credit Suisse Global Technology
Fund, Inc. and Credit Suisse Global Health Sciences Fund, Inc., (collectively
referred to as the "Funds") at August 31, 2003, the results of their operations
for the year then ended, the changes in their net assets for each of the two
years in the period then ended and the financial highlights for each of the
years (or periods) presented, in conformity with accounting principles generally
accepted in the United States of America. These financial statements and
financial highlights (hereafter referred to as "financial statements") are the
responsibility of the Funds' management; our responsibility is to express an
opinion on these financial statements based on our audits. We conducted our
audits of these financial statements in accordance with auditing standards
generally accepted in the United States of America, which require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management, and evaluating the overall financial statement presentation.
We believe that our audits, which included confirmation of securities at August
31, 2003 by correspondence with the custodian, provide a reasonable basis for
our opinion.
PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
October 29, 2003
<Page>
CREDIT SUISSE GLOBAL TECHNOLOGY FUND
SHAREHOLDER MEETING RESULTS (UNAUDITED)
A special meeting of shareholders of the Credit Suisse Global Technology Fund,
Inc. (the "Fund") was held at 466 Lexington Avenue, 16th Floor, New York, NY
10017 on August 1, 2003 and adjourned to September 11, 2003 and September 30,
2003. The following matters were voted upon by the shareholders of the Fund and
the results are presented below. Shares delivered not voted are included in the
total for the proposals. Proposals 1, 2, 3-A, 3-B and 4-C were approved. The
remaining proposals were not approved.
1. To approve an Agreement and Plan of Reorganization (the "Plan") providing
that (i) the Fund would transfer all of its assets in exchange for shares of
common stock of the Credit Suisse Global Post-Venture Capital Fund, Inc. (the
"Acquiring Fund"), and the assumption by the Acquiring Fund of the Fund's
liabilities, (ii) such shares of common stock of the Acquiring Fund would be
distributed to shareholders of the Fund in liquidation of the Fund, and (iii)
the Fund would subsequently be dissolved.
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,161,982 34.97% 69.33%
Against 160,182 4.82% 9.56%
Abstain 70,942 2.14% 4.23%
Broker Non-votes 282,907 8.52% 16.88%
</Table>
2. To Elect the Following Nominees as Directors:
<Table>
<Caption>
FOR WITHHELD
--------- --------
Richard H. Francis 1,193,396 113,851
Jack W. Fritz 1,193,030 114,217
Joseph D. Gallagher 1,192,193 115,055
Jeffrey E. Garten 1,193,766 113,482
Peter F. Krogh 1,194,507 112,741
James S. Pasman, Jr. 1,194,407 112,840
Steven N. Rappaport 1,194,250 112,997
William W. Priest 1,194,353 112,894
Total Eligible Shares 3,322,389
Total Shares Voted 1,307,247
% of Shares Voted 39.35%
</Table>
3-A To Approve a New Investment Advisory Agreement:
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,439,985 43.34% 85.93%
Against 161,381 4.86% 9.62%
Abstain 74,647 2.25% 4.45%
</Table>
<Page>
3-B To Approve the Retention or Payment of Fees Paid or Payable to CSAM:
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,116,513 33.61% 85.41%
Against 135,702 4.08% 10.38%
Abstain 55,032 1.66% 4.21%
</Table>
4-A. To Modify the Fundamental Investment Restriction on Borrowing Money:
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,111,510 33.45% 66.32%
Against 202,224 6.09% 12.07%
Abstain 79,372 2.39% 4.73%
Broker Non-votes 282,907 8.52% 16.88%
</Table>
4-B. To Modify the Fundamental Investment Restriction on Lending:
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,118,232 33.66% 66.72%
Against 195,434 5.88% 11.66%
Abstain 79,440 2.39% 4.74%
Broker Non-votes 282,907 8.52% 16.88%
</Table>
4-C. To Modify the Fundamental Investment Restriction on Real Estate
Investments:
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,125,544 33.88% 67.16%
Against 186,111 5.60% 11.10%
Abstain 81,451 2.45% 4.86%
Broker Non-votes 282,907 8.52% 16.88%
</Table>
5. To Change the Fund's Investment Objective from Fundamental to
Non-Fundamental:
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,117,164 33.63% 66.66%
Against 194,781 5.86% 11.62%
Abstain 81,160 2.44% 4.84%
Broker Non-votes 282,907 8.52% 16.88%
</Table>
<Page>
CREDIT SUISSE GLOBAL HEALTH SCIENCES
SHAREHOLDER MEETING RESULTS (UNAUDITED)
A special meeting of shareholders of the Credit Suisse Global Health Sciences
Fund, Inc. (the "Fund") was held at 466 Lexington Avenue, 16th Floor, New York,
NY 10017 on August 1, 2003 and adjourned to September 11, 2003. The following
matters were voted upon by the shareholders of the Fund and the results are
presented below. Shares delivered not voted are included in the total for the
proposals. All proposals were approved.
1. To approve an Agreement and Plan of Reorganization (the "Plan") providing
that (i) the Fund would transfer all of its assets in exchange for shares of
common stock of the Credit Suisse Global Post-Venture Capital Fund, Inc. (the
"Acquiring Fund") and the assumption by the Acquiring Fund of the Fund's
liabilities, (ii) such shares of common stock of the Acquiring Fund would be
distributed to shareholders of the Fund in liquidation of the Fund, and (iii)
the Fund would subsequently be dissolved.
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,013,234 36.55% 69.36%
Against 321,193 11.59% 21.99%
Abstain 63,141 2.28% 4.32%
Broker Non-votes 63,311 2.28% 4.33%
</Table>
2. To Elect the Following Nominees as Directors:
<Table>
<Caption>
FOR WITHHELD
--------- --------
Richard H. Francis 1,094,535 240,929
Jack W. Fritz 1,096,324 239,140
Joseph D. Gallagher 1,098,063 237,401
Jeffrey E. Garten 1,097,740 237,724
Peter F. Krogh 1,097,476 237,988
James S. Pasman, Jr. 1,097,206 238,258
Steven N. Rappaport 1,097,160 238,304
William W. Priest 1,096,903 238,561
Total Eligible Shares 2,772,024
Total Shares Voted 1,335,464
% of Shares Voted 48.18%
</Table>
3-A. To Modify the Fundamental Investment Restriction on Borrowing Money:
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,016,531 36.67% 69.58%
Against 317,280 11.45% 21.72%
Abstain 63,756 2.30% 4.37%
Broker Non-votes 63,311 2.28% 4.33%
</Table>
<Page>
3-B. To Modify the Fundamental Investment Restriction on Lending:
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,020,086 36.80% 69.83%
Against 314,585 11.35% 21.53%
Abstain 62,896 2.27% 4.31%
Broker Non-votes 63,311 2.28% 4.33%
</Table>
3-C. To Modify the Fundamental Investment Restriction on Real Estate
Investments:
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,020,174 36.80% 69.83%
Against 316,567 11.42% 21.67%
Abstain 60,827 2.19% 4.16%
Broker Non-votes 63,311 2.28% 4.34%
</Table>
3-D. To Remove the Fundamental Investment Restriction on Margin Transactions:
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,001,960 36.15% 68.59%
Against 331,372 11.96% 22.68%
Abstain 64,235 2.32% 4.40%
Broker Non-votes 63,311 2.28% 4.33%
</Table>
3-E. To Remove the Fundamental Investment Restriction on Investments in Oil, Gas
and Mineral Programs:
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 1,018,213 36.73% 69.70%
Against 316,686 11.42% 21.68%
Abstain 62,668 2.26% 4.29%
Broker Non-votes 63,311 2.28% 4.33%
</Table>
4. To Change the Fund's Investment Objective from Fundamental to
Non-Fundamental:
<Table>
<Caption>
% OF TOTAL SHARES % OF TOTAL
SHARES OUTSTANDING SHARES VOTED
--------- ----------------- ------------
For 979,144 35.32% 67.02%
Against 354,189 12.78% 24.25%
Abstain 64,235 2.32% 4.40%
Broker Non-votes 63,311 2.28% 4.33%
</Table>
<Page>
CREDIT SUISSE FUNDS
INFORMATION CONCERNING DIRECTORS AND OFFICERS (UNAUDITED)
<Table>
<Caption>
TERM NUMBER OF
OF OFFICE(1) PORTFOLIOS IN
AND FUND
POSITION(S) LENGTH PRINCIPAL COMPLEX OTHER
NAME, ADDRESS AND DATE OF HELD WITH OF TIME OCCUPATION(S) DURING OVERSEEN BY DIRECTORSHIPS
BIRTH FUND SERVED PAST FIVE YEARS DIRECTOR HELD BY DIRECTOR
- -------------------------- -------------- ------------ -------------------- ------------- ----------------
INDEPENDENT DIRECTORS
Richard H. Francis Director, Since Currently retired 44 None
c/o Credit Suisse Asset Nominating and 1999
Management, LLC Audit
466 Lexington Avenue Committee
New York, New York Member
10017-3140
Date of Birth: 04/23/32
Jack W. Fritz Director, Since Private investor; 43 Director of
2425 North Fish Creek Road Nominating and Funds Consultant and Advo, Inc.
P.O. Box 1287 Audit Inception Director of Fritz (direct mail
Wilson, Wyoming 83014 Committee Broadcasting, Inc. advertising)
Member and Fritz
Date of Birth: 04/22/27 Communications
(developers and
operators of radio
stations) (1987 -
present)
Jeffrey E. Garten Director, Since Dean of Yale 43 Director of
Box 208200 Nominating and 1998(2) School of Aetna, Inc.;
New Haven, Connecticut Audit Management and Director of
06520-8200 Committee William S. Beinecke Calpine
Member Professor in the Corporation;
Date of Birth: 10/29/46 Practice of Director of
International CarMax Group
Trade and Finance (used car
(11/95 - present) dealers)
</Table>
(1) Each Director and Officer serves until his or her respective successor has
been duly elected and qualified.
(2) Mr. Garten was initially appointed as a Director of Global Health Science
Fund on February 6, 1998. He resigned as Director on February 3, 2000 and
was subsequently reappointed on December 21, 2000.
<Page>
<Table>
<Caption>
TERM NUMBER OF
OF OFFICE(1) PORTFOLIOS IN
AND FUND
POSITION(S) LENGTH PRINCIPAL COMPLEX OTHER
NAME, ADDRESS AND DATE OF HELD WITH OF TIME OCCUPATION(S) DURING OVERSEEN BY DIRECTORSHIPS
BIRTH FUND SERVED PAST FIVE YEARS DIRECTOR HELD BY DIRECTOR
- -------------------------- -------------- ------------ -------------------- ------------- ----------------
INDEPENDENT DIRECTORS-(CONTINUED)
Peter F. Krogh Director, Since Dean Emeritus and 43 Director
301 ICC Nominating and 2001 Distinguished Professor of Carlisle Companies
Georgetown University Audit of International Affairs Incorporated (diversified
Washington, DC 20057 Committee at the Edmund A. Walsh manufacturing company);
Member School of Member of
Date of Birth: 02/11/37 Foreign Service, Selection
Georgetown University Committee
(6/95 - present); for Truman
Moderator of PBS Scholars and
foreign affairs Henry Luce
television Scholars; Senior
series (1988 - 2000) Associate of
Center for
Strategic and
International
Studies; Trustee
of numerous
world affairs
organizations
James S. Pasman, Jr. Director, Since Currently retired 45 Director of
c/o Credit Suisse Asset Nominating and 1999 Education
Management, LLC Audit Management
466 Lexington Avenue Committee Corp.
New York, New York Member
10017-3140
Date of Birth: 12/20/30
</Table>
<Page>
<Table>
<Caption>
TERM NUMBER OF
OF OFFICE(1) PORTFOLIOS IN
AND FUND
POSITION(S) LENGTH PRINCIPAL COMPLEX OTHER
NAME, ADDRESS AND DATE OF HELD WITH OF TIME OCCUPATION(S) DURING OVERSEEN BY DIRECTORSHIPS
BIRTH FUND SERVED PAST FIVE YEARS DIRECTOR HELD BY DIRECTOR
- -------------------------- -------------- ------------ -------------------- ------------- ----------------
INDEPENDENT DIRECTORS-(CONTINUED)
Steven N. Rappaport Director, Since Partner of Lehigh Court, 45 None
Lehigh Court, LLC Nominating 1999 LLC and RZ Capital
40 East 52nd Street Committee (private investment
New York, New York Member and firms) (7/02 - present);
10022 Audit Consultant to SunGard
Committee Securities Finance, Inc.
Date of Birth: 07/10/48 Chairman from February 2002 to
July 2002; President of
SunGard Securities
Finance, Inc. from 2001
to February 2002;
President of Loanet,
Inc. (on-line accounting
service) from 1997 to
2001
INTERESTED DIRECTORS
Joseph D. Gallagher(3) Director, Since Managing Director and 46 None
Credit Suisse Asset Chairman of the 2003 Chief Executive Officer
Management, LLC Board and Chief of CSAM since 2003;
466 Lexington Avenue Executive Chief Executive Officer
New York, New York Officer and Director of Credit
10017-3140 Suisse Asset Management
Limited, London,
Date of Birth: 12/14/62 England, from June 2000
to 2003; Director of
Credit Suisse Asset
Management Funds (UK)
Limited, London,
England, from June 2000
to 2003; Managing
Director, Head - Asian
Corporate Finance and
M&A's, Credit Suisse
First Boston, Hong Kong,
China, from January 1998
to May 1999
</Table>
(3) Mr. Gallagher is a Director who is an "interested person" of the Fund as
defined in the 1940 Act, because he is an officer of CSAM.
<Page>
<Table>
<Caption>
TERM NUMBER OF
OF OFFICE(1) PORTFOLIOS IN
AND FUND
POSITION(S) LENGTH PRINCIPAL COMPLEX OTHER
NAME, ADDRESS AND DATE OF HELD WITH OF TIME OCCUPATION(S) DURING OVERSEEN BY DIRECTORSHIPS
BIRTH FUND SERVED PAST FIVE YEARS DIRECTOR HELD BY DIRECTOR
- -------------------------- -------------- ------------ -------------------- ------------- ----------------
INTERESTED DIRECTORS-(CONTINUED)
William W. Priest(4) Director Since Co-Managing Partner, 50 None
Steinberg Priest & Sloane 1999 Steinberg Priest &
Capital Management Sloane Capital
12 East 49th Street Management since March
12th Floor 2001; Chairman and
New York, New York Managing Director of
10017 CSAM from 2000 to
February 2001, Chief
Date of Birth: 09/24/41 Executive Officer and
Managing Director of
CSAM from 1990 to 2000
</Table>
(4) Mr. Priest is a director who is an "interested person" of the Fund as
defined in the 1940 Act, because he provided consulting services to CSAM
within the last two years (ended 12/31/02).
<Page>
<Table>
<Caption>
TERM
OF OFFICE(1)
AND
POSITION(S) LENGTH
NAME, ADDRESS AND DATE OF HELD WITH OF TIME
BIRTH FUND SERVED PRINCIPAL OCCUPATION(S) DURING PAST FIVE YEARS
- -------------------------- -------------- ------------ ----------------------------------------------
OFFICERS
Hal Liebes Vice President Since Managing Director and Global General Counsel of CSAM;
Credit Suisse Asset and Secretary 1999 Associated with CSAM since 1997; Officer of other Credit
Management, LLC Suisse Funds
466 Lexington Avenue
New York, New York
10017-3140
Date of Birth: 07/06/64
Michael A. Pignataro Chief Since Director and Director of Fund Administration of CSAM;
Credit Suisse Asset Financial 1999 Associated with CSAM since 1984; Officer of other Credit
Management, LLC Officer and Suisse Funds
466 Lexington Avenue Treasurer
New York, New York
10017-3140
Date of Birth: 11/15/59
Gregory N. Bressler Assistant Since Director and Deputy General Counsel of CSAM; Associated with
Credit Suisse Asset Secretary 2000 CSAM since January 2000; Associated with the law firm of
Management, LLC Swidler Berlin Shereff Friedman LLP from 1996 to 2000; Officer
466 Lexington Avenue of other Credit Suisse Funds
New York, New York
10017-3140
Date of Birth: 11/17/66
</Table>
<Page>
<Table>
<Caption>
TERM
OF OFFICE(1)
AND
POSITION(S) LENGTH
NAME, ADDRESS AND DATE OF HELD WITH OF TIME
BIRTH FUND SERVED PRINCIPAL OCCUPATION(S) DURING PAST FIVE YEARS
- -------------------------- -------------- ------------ ----------------------------------------------
OFFICERS-(CONTINUED)
Rocco A. Del Guercio Assistant Since Vice President and Administrative Officer of CSAM;
Credit Suisse Asset Treasurer 1999 Associated with CSAM since June 1996; Officer of other Credit
Management, LLC Suisse Funds
466 Lexington Avenue
New York, New York
10017-3140
Date of Birth: 04/28/63
Joseph Parascondola Assistant Since Assistant Vice President of CSAM; Associated with CSAM since April
Credit Suisse Asset Treasurer 2000 2000; Assistant Vice President, Deutsche Asset Management from
Management, LLC January 1999 to April 2000; Assistant Vice President, Weiss, Peck
466 Lexington Avenue & Greer LLC from November 1995 to December 1998; Officer of
New York, New York other Credit Suisse Funds
10017-3140
Date of Birth: 06/05/63
Robert M. Rizza Assistant Since Assistant Vice President of CSAM since January 2001; Associated
Credit Suisse Asset Treasurer 2002 with CSAM since 1998; Officer of other Credit Suisse Funds
Management, LLC
466 Lexington Avenue
New York, New York
10017-3140
Date of Birth: 12/09/65
</Table>
The Statement of Additional Information includes additional information about
the Directors and is available, without charge, upon request, by calling
800-927-2874.
<Page>
CREDIT SUISSE FUNDS
TAX INFORMATION LETTER (UNAUDITED)
August 31, 2003
IMPORTANT TAX INFORMATION FOR CORPORATE SHAREHOLDERS
For the fiscal year ended August 31, 2003 certain dividends paid by the Funds
may be subject to a maximum tax rate of 15%, as provided for by the Jobs and
Growth Tax Relief Reconciliation Act of 2003. Complete information will be
reported in conjunction with your 2003 Form 1099-DIV.
<Page>
[CREDIT SUISSE ASSET MANAGEMENT LOGO]
P.O. Box 55030, Boston, MA 02205-5030
800-927-2874 - www.csam-americas.com
CREDIT SUISSE ASSET MANAGEMENT SECURITIES, INC., DISTRIBUTOR.
WPGBL-2-0803
<Page>
ITEM 2. CODE OF ETHICS.
The registrant has adopted a code of ethics applicable to its Chief Executive
Officer, President, Chief Financial Officer and Chief Accounting Officer, or
persons performing similar functions. A copy of the code is filed as Exhibit
10(a)(1) to this Form. There were no amendments to the code during the fiscal
year ended August 31, 2003. There were no waivers or implicit waivers from the
code granted by the registrant during the fiscal year ended August 31, 2003.
<Page>
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
The registrant's governing board has determined that it has three audit
committee financial experts serving on its audit committee: Richard H. Francis,
James S. Pasman, Jr., and Steven N. Rappaport. Each audit committee financial
expert is "independent" for purposes of this item.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Form N-CSR disclosure requirement is not yet effective with respect to the
Registrant.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable to the Registrant.
ITEM 6. [RESERVED]
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.
Not applicable to the Registrant.
ITEM 8. [RESERVED]
ITEM 9. CONTROLS AND PROCEDURES.
(a) As of a date within 90 days from the filing date of this report, the
principal executive officer and principal financial officer concluded that the
registrant's disclosure controls and procedures (as defined in Rule 30a-3(c)
under the Investment Company Act of 1940 (the "Act")) were effective based on
their evaluation of the disclosure controls and procedures required by Rule
30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities
Exchange Act of 1934.
(b) There were no changes in registrant's internal control over financial
reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the
registrant's second fiscal half-year that have materially affected, or are
reasonably likely to materially affect, the registrant's internal control over
financial reporting.
ITEM 10. EXHIBITS.
(a)(1) The registrant's code of ethics is an exhibit to this report.
(a)(2) The certifications of the registrant as required by Rule 30a-2(a) under
the Act are exhibits to this report.
(b) The certifications of the registrant as required by Rule 30a-2(b) under
the Act are an exhibit to this report.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934
and the Investment Company Act of 1940, the registrant has duly caused this
report to be signed on its behalf by the undersigned, thereunto duly authorized.
CREDIT SUISSE GLOBAL TECHNOLOGY FUND, INC.
/s/ Joseph D. Gallagher
-----------------------
Name: Joseph D. Gallagher
Title: Chief Executive Officer
Date: November 10, 2003
Pursuant to the requirements of the Securities Exchange Act of 1934
and the Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
/s/ Joseph D. Gallagher
-----------------------
Name: Joseph D. Gallagher
Title: Chief Executive Officer
Date: November 10, 2003
/s/ Michael A. Pignataro
-----------------------
Name: Michael A. Pignataro
Title: Chief Financial Officer
Date: November 10, 2003