UBS announced today that it will acquire the branch network of McDonald Investments, a unit of KeyCorp, for up to $280 million. The transaction is expected to close in the first quarter of 2007, subject to regulatory approval.

UBS announced today that it has completed the acquisition of Piper Jaffray Companies’ Private Client Services branch network. The transaction was announced on April 11, 2006.

UBS Global Asset Management has announced that it plans to enter into a stock purchase agreement with Daehan Investment & Securities Company (DI&S) to acquire 51% of Daehan Investment Management Trust Company (DIMCO), Korea’s largest asset management company. Under the joint venture, DIMCO will be known as UBS Hana Asset Management Company Ltd (UBS Hana Asset Management) internationally and as Hana UBS Asset Management in Korea. The transaction, which remains subject to regulatory approval, is expected to be completed within the third quarter of 2006.

UBS announced today that it will acquire the Brazilian financial services firm, Banco Pactual S.A, for an upfront payment of 1 billion (USD) and a further payment of up to 1.6 billion (USD) in five years, subject to certain performance conditions. In addition UBS will establish a retention pool of up to 500 million (USD) in UBS shares for Pactual and UBS employees payable beginning on the fifth anniversary of closing.

UBS announced today that it will acquire the Private Client Branch Network of Piper Jaffray Companies for $500 million in cash. The transaction is expected to close at the beginning of the third quarter, subject to regulatory approval.

UBS has sold its 55.6% stake in Motor-Columbus to a consortium representing Atel's Swiss minority shareholders, EOS Holding and Atel, as well as to French utility Electricité de France (EDF). The transaction was completed on March 23, 2006, resulting in a pre-tax gain of around CHF 370 million.

UBS today announced an offer to acquire the remaining ownership interests in its Canadian institutional securities subsidiary, UBS Bunting Limited. The purchase price will consist of a combination of cash and UBS stock totaling CDN$144 million [US$ 122.9 million; CHF 157.4 million¹] plus up to an additional CDN$29 million [US$ 24.8 million; CHF 31.6 million] depending on the performance of the acquired business post-closing in 2006 and 2007.

UBS today completed the sale of its Private Banks & GAM unit to Julius Baer for CHF 6.1 billion, resulting in a post-tax disposal gain of approximately CHF 3.8 billion.

Beijing SASAC¹, UBS and the International Finance Corporation (IFC) are in discussions to restructure the operations of Beijing Securities Co. Ltd into an entity to be managed by UBS.

UBS and Bank of China (BOC) will enter a mutually beneficial strategic co-operation relationship covering the development of investment banking and securities products and services in China and for Chinese clients. UBS Investment Bank will invest USD500 million (CHF645 million) in BOC.

UBS has reached an agreement to sell its Private Banks & GAM unit to Julius Baer for an implied value of CHF 5.6 billion consisting of CHF 3.8 billion in cash and cash equivalents as well as a 21.5% stake in the enlarged Julius Baer. The stake has an implied value of CHF 1.8 billion. The unit comprises the three private banks, Banco di Lugano, Ehinger & Armand von Ernst and Ferrier Lullin as well as specialist asset manager GAM¹. Hans de Gier and David Solo will join the management team of the new bank.

UBS is in negotiations with several companies to sell its 55.6% stake in Motor- Columbus.

The transaction represents another step in the expansion of UBS's business with private clients in Latin America

UBS has signed an agreement to acquire Julius Baer’s wealth management operations in North America. The operations will be integrated into the Wealth Management & Business Banking business group of UBS. With this acquisition, UBS further strengthens its wealth management operations in the Americas.

UBS announced today that it will acquire Charles Schwab SoundView Capital Markets, the Capital Markets Division of Charles Schwab Corp., for $265 million (USD) paid in cash. The transaction is expected to close in the fourth quarter of 2004, subject to regulatory approval. The acquisition will be integrated in the Equities business of UBS’s Investment Bank.

UBS agrees to buy the whole of Ersel’s stake in Giubergia UBS SIM joint venture.

As announced in early April, UBS has today acquired RWE's 20% shareholding in Motor-Columbus together with its 1.23% interest in Atel. The relevant competition authorities have given their approval for the transaction. UBS, which thus indirectly becomes a majority shareholder of Atel, will submit a mandatory takeover offer to all Atel shareholders on 12 July 2004.

Acquisition adds key product capabilities and access to a high quality client base

Purchase builds on successful organic growth in UK wealth management market.

The private bank Ferrier Lullin & Cie S.A. has signed a Memorandum of Understanding with shareholders of Banque Notz Stucki S.A. to acquire the company. Banque Notz Stucki S.A.'s activities will be merged and fully integrated into Ferrier Lullin & Cie S.A. by March 2004, provided the relevant authorities approve the deal. The price of the transaction is not being disclosed.

UBS to acquire Merrill Lynch’s German private client business

UBS announced today that it will acquire the US prime brokerage operations of ABN AMRO, for a price of USD 250 million.

UBS today signed an agreement to acquire Lloyds Bank S.A., the French wealth management business of the British bank Lloyds TSB, for an undisclosed price. Lloyds Bank S.A. serves wealthy private clients in the French market, focusing primarily on the high net worth and core affluent segments, and is therefore a strategic fit. This acquisition strengthens UBS (France) S.A.'s presence in France. Lloyds Bank S.A., which employs 80 people, manages around EUR 1bn in invested assets and has offices in Paris, Lyons and Cannes. It significantly increases the number of UBS clients in France. The transaction is subject to regulatory approval and is expected to be completed by the end of June 2003. Upon completion, the legal entity of Lloyds Bank S.A. will be renamed UBS Wealth Management (France) S.A.