Industrial Holdings

In third quarter 2006, industrial holdings reported a net profit of CHF 82 million, of which CHF 81 million was attributable to UBS shareholders.

Private equity treated as “Financial Investments available-for-sale” achieved divestment gains of CHF 89 million in third quarter 2006, with writedowns totaling CHF 13 million. The level of these investments fell to CHF 421 million on 30 September 2006, from CHF 565 million on 30 June 2006, due to a number of exits which were partially offset by the funding of existing commitments. The fair value of this part of the portfolio increased slightly to CHF 977 million in third quarter. Unfunded commitments on 30 September 2006 were CHF 260 million, down from CHF 278 million on 30 June 2006.