Corporate Actions

Following is a list of all corporate actions on an as announced basis (not adjusted for subsequent corporate actions). For an adjusted view, please refer to the next table (Corporate actions - adjustments).


2008	Issuance of 760,295,181 new shares (according to a gross capital raising of CHF 15.97 billions) through a rights issue (public offering). Each share held after the close of business on May 26, 2008 has been allotted one subscription right. 20 subscription rights granted the holder thereof the right to subscribe for 7 shares of UBS AG at the subscription price of CHF 21.00 per share with delivery and payment on 17 June 2008.
	Distribution of a 20-for-1 stock dividend, resulting in 98,698,745 shares issued to shareholders on 19 May 2008.
	Creation of a maximum of 277,750,000 conditional capital shares upon conversion of 9% mandatory convertible notes in the amount of CHF 13 billion due on 5 March 2010 at the latest. At the conversion price of CHF 48.07 a total of 270,438,943 new shares will be issued at conversion date.
2007	Cancellation of 33,020,000 shares (repurchased under the 2006/2007 program), representing a total cost of CHF 2,415 million, as of 29 June 2007.
2006	Share split 2-for-1, effective 10 July 2006. This reduced the par value per share from CHF 0.20 to CHF 0.10.
	Par value repayment distribution of CHF 0.60 per share as of 12 July 2006. This reduced the par value per share from CHF 0.80 to CHF 0.20.
	Cancellation of 37,100,000 shares (repurchased under the 2005/2006 program), representing a total cost of CHF 4,026 million, as of 5 July 2006.
2005	Cancellation of 39,935,094 shares (repurchased under the 2004/2005 program), representing a total cost of CHF 3,543 million, as of 8 July 2005.
2004	Cancellation of 59,482,000 shares (repurchased under the 2003/2004 program), representing a total cost of CHF 4,516 million, as of 30 June 2004.
2003	Cancellation of 75,970,080 shares (repurchased under the two 2002/2003 programs), representing a total cost of CHF 5,529 million, as of 10 July 2003.
2002	Par value repayment distribution of CHF 2.00 per share as of 10 July 2002. This reduced the par value per share to CHF 0.80.
	Cancellation of 28,818,690 shares (repurchased under the 2001/2002 program), representing a total cost of CHF 2,290 million, as of 5 July 2002.
2001	Share split 3-for-1, effective 16 July 2001. This reduced the par value per share from CHF 8.40 to CHF 2.80.
	Par value repayment distribution of CHF 1.60 per share in respect of the fourth quarter 2000, as of 18 July 2001. This reduced the par value per share from CHF 10.00 to CHF 8.40.
	Cancellation of 18,421,783 shares (repurchased under the 2000 program), representing a total cost of CHF 4,000 million, as of 16 July 2001.
2000	Issuance of 12,000,000 new shares from authorized capital on 7 November 2000 to finance the PaineWebber acquisition.
	Creation of Global Registered Share, and listing on NYSE on 16 May 2000.
	Share split 2-for-1, effective 8 May 2000. This reduced the par value per share from CHF 20.00 to CHF 10.00.

The table below shows the number of shares, adjusted for the most recent corporate action (rights issue, 17 June 2008)

		Number of shares

		Adjusted	As announced
2008	Stock dividend	133,243,306	98,698,745
2007	Cancellation of shares	37,130,311	33,020,000
2006	Cancellation of shares	83,436,264	37,100,000
2005	Cancellation of shares	89,812,390	39,935,094
2004	Cancellation of shares	133,772,527	59,482,000
2003	Cancellation of shares	170,853,806	75,970,080
2002	Cancellation of shares	64,814,317	28,818,690
2001	Cancellation of shares	124,289,607	18,421,783

1998 Merger between Union Bank of Switzerland and Swiss Bank Corporation creating UBS AG

1	Registered share of Union Bank of Switzerland (par value CHF 20)	into 1	Registered share UBS AG (par value CHF 20)
1	Bearer share of Union Bank of Switzerland (par value CHF 100)	into 5	Registered share UBS AG (par value CHF 20)
1	Registered share of Swiss Bank Corporation (par value CHF 40)	into 1 1/13	Registered share UBS AG (par value CHF 20)