Notes to the Financial Statements

Note 5 Other Income

Search only in Quarterly Reporting Q2 2007

Spreadsheets

Other Income

	Quarter ended			% change from		Year to date
CHF million	30.6.07	31.3.07	30.6.06	1Q07	2Q06	30.6.07	30.6.06
Associates and subsidiaries
Net gains from disposals of consolidated subsidiaries	(59)	(1)	1			(60)	4
Net gains from disposals of investments in associates	(1)	0	0			(1)	0
Equity in income of associates	61	33	32	85	91	94	78
Total	1	32	33	(97)	(97)	33	82
Financial investments available-for-sale
Net gains from disposals	2,466	37	392		529	2,503	812
Impairment charges	(4)	(11)	(4)	64	0	(15)	(5)
Total	2,462	26	388		535	2,488	807
Net income from investments in property ¹	30	18	10	67	200	48	20
Net gains from investment properties ²	17	(1)	5		240	16	9
Other	78	32	60	144	30	110	95
Total other income from Financial Businesses	2,588	107	496		422	2,695	1,013
Other income from Industrial Holdings	360	137	99	163	264	497	127
Total other income	2,948	244	595		395	3,192	1,140
1 Includes net rent received from third parties and net operating expenses. 2 Includes unrealized and realized gains from investment properties at fair value.

In late June 2007, UBS disposed of its 20.7% stake in Julius Baer by launching an accelerated bookbuilding transaction for a 15.23% stake (33,991,870 shares, price of CHF 84.00 per share) and selling the remaining 5.47% (12,222,222 shares, price of CHF 89.66 per share) to Julius Baer for a total consideration of CHF 3,951 million. UBS received the Julius Baer shares as part of the consideration in connection with the sale of Private Banks & GAM to Julius Baer in December 2005. UBS had agreed to certain lock-up obligations which expired on 25 May 2007. The interest in Julius Baer was accounted for as a Financial investment available-for-sale, and the sale led to a release of gains, which were previously deferred in Equity, to Net profit of CHF 1,950 million pre-tax in second quarter. On a post-tax basis, the gain on sale was CHF 1,926 million.

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