We have audited, in accordance with auditing standards generally accepted in the United States of America, the consolidated balance sheet of City National Corporation and subsidiaries as of December 31, 2002 and 2001, and the related consolidated statements of income and comprehensive income, changes in shareholders’ equity and cash flows for each of the years in the three-year period ended December 31, 2002 (not presented herein), and in our report dated January 17, 2003 (which contains an explanatory paragraph that states that the Company changed its accounting for goodwill and other intangible assets in 2002 and derivatives and hedging activities in 2001), we expressed an unqualified opinion on those consolidated financial statements.

In our opinion, the information set forth in the accompanying condensed consolidated financial statements is fairly stated, in all material respects, in relation to the consolidated financial statements from which it has been derived.