Important Events:
Switzerland and the World

Important Events:
Swiss Bank Corporation (SBC)
Union Bank of Switzerland (UBS)

Switzerland celebrates the 150th birthday of its modern Constitution.

The "Agreement on the Swiss Banks' Code of Conduct with Regard to the Exercise of Due Diligence", originally of 1977, is renewed.

The Bilateral Agreements between Switzerland and the European Union are signed in Vienna.

In Switzerland, the revised Law on Money Laundering enters into force.

In New York the new UBS AG and the CS Group come to an agreement with the lawyers behind the Holocaust-class action law suits. The two Swiss Banks pay 1.25 billion USD (1.8 billion CHF) into an escrow account in New York.

Daimler Benz and Chrylser merge to become the world's third largest car producer (May 7).

On May 25 the "Independent Commission of Experts" (ICE), or Bergier-Commission, publishes its report "Switzerland and Gold Transactions in the Second World War" regarding primarily the transactions between Nazi-Germany and the Swiss National Bank (SNB).

Volkswagen of Germany buys the traditional British car producer Rolls Royce for the amount of 1 billion GBP (June 5).

On February 4 the extraordinary General Assembly of SBC-Shareholders in Basle approves the merger with UBS.

On April 15 the 126th (and last) ordinary General Assembly of SBC takes place in Basle.

Over the weekend of June 27/28 the merger with UBS is consummated.

On February 3 the extraordinary General Assembly of UBS-Shareholders in Zurich approves the merger with SBC.

On April 23 the 86th (and last) ordinary General Assembly of the old UBS takes place in Zurich.

Over the weekend of June 27/28 the merger with SBC is consummated.

From June 29 onwards the shares of the new UBS AG are traded on the exchanges.

The new UBS AG is structured along the business divisions Private and Corporate Clients, Asset Management, Private Banking, Investment Banking, and Private Equity. All central functions for the group are located in the Corporate Center.

Mathis Cabiallavetta

First Chairman of the Board of Directors of the new UBS AG is Mathis Cabiallavetta, up to now Chief Executive Officer of the old UBS.

	Marcel Ospel

As Marcel Ospel, up to now CEO of SBC, is appointed.

On October 1st Mathis Cabiallavetta resigns as Chairman after heavy losses of the bank in the 3rd quarter, partly due to a large exposure of the old UBS in the highly speculative American hedge fund LTCM Long Term Capital Management.

Alex Krauer

Alex Krauer, up to now one of the two Vice-Chairmen, takes over as the new Chairman of UBS AG.

UBS AG sells its Private Banking subsidiary Banca della Svizzera Italiana (BSI), Lugano. This sale was one of the conditions, under which the Swiss Competition Authority approved the merger.