B – Selected Financial Data

The tables below set forth, for the periods and dates indicated, information concerning the noon buying rate for the Swiss franc, expressed in United States dollars, or USD, per one Swiss franc. The noon buying rate is the rate in New York City for cable transfers in foreign currencies as certified for customs purposes by the Federal Reserve Bank of New York.

On 28 February 2007 the noon buying rate was 0.8204 USD per 1 CHF.

Year ended 31 December	High	Low	Average rate¹ (USD per 1 CHF)	At period end
2002	0.7229	0.5817	0.6453	0.7229
2003	0.8189	0.7048	0.7493	0.8069
2004	0.8843	0.7601	0.8059	0.8712
2005	0.8721	0.7544	0.8039	0.7606
2006	0.8396	0.7575	0.8034	0.8200

Month	High	Low
September 2006	0.8125	0.7949
October 2006	0.8049	0.7842
November 2006	0.8357	0.7958
December 2006	0.8396	0.8161
January 2007	0.8247	0.7978
February 2007	0.8204	0.7980
1 The average of the noon buying rates on the last business day of each full month during the relevant period.

	For the year ended
CHF million, except where indicated	31.12.06	31.12.05	31.12.04	31.12.03	31.12.02
Income statement data
Interest income	87,401	59,286	39,228	40,045	39,896
Interest expense	(80,880)	(49,758)	(27,484)	(27,784)	(29,417)
Net interest income	6,521	9,528	11,744	12,261	10,479
Credit loss (expense) / recovery	156	375	241	(102)	(112)
Net interest income after credit loss (expense) / recovery	6,677	9,903	11,985	12,159	10,367
Net fee and commission income	25,881	21,436	18,506	16,673	17,481
Net trading income	13,318	7,996	4,902	3,670	5,381
Other income	1,596	1,122	853	280	13
Income from Industrial Holdings	693	675	640	535	335
Total operating income	48,165	41,132	36,886	33,317	33,577
Total operating expenses	33,498	28,455	26,844	26,000	30,135
Operating profit from continuing operations before tax	14,667	12,677	10,042	7,317	3,442
Tax expense	2,786	2,471	2,155	1,403	566
Net profit from continuing operations	11,881	10,206	7,887	5,914	2,876
Net profit from discontinued operations	869	4,484	583	339	489
Net profit	12,750	14,690	8,470	6,253	3,365
Net profit attributable to minority interests	493	661	454	349	348
Net profit attributable to UBS shareholders	12,257	14,029	8,016	5,904	3,017
Cost / income ratio (%) ¹	69.7	70.1	73.2	76.8	84.7
Per share data (CHF)
Basic earnings per share ²	6.20	6.97	3.89	2.72	1.30
Diluted earnings per share ²	5.95	6.68	3.70	2.59	1.27
Operating profit before tax per share	7.42	6.29	4.88	3.37	1.48
Cash dividends declared per share (CHF) ³	2.20	1.60	1.50	1.30	1.00
Cash dividend equivalent in USD ³		1.26	1.27	1.00	0.73
Dividend payout ratio (%) ³	35.5	23.0	38.6	47.8	76.9
Rates of return (%)
Return on equity attributable to UBS shareholders ⁴	28.2	39.7	25.8	18.0	8.3
Return on average equity	26.3	37.2	23.8	16.9	7.7
Return on average assets	0.51	0.67	0.44	0.38	0.20
1 Operating expenses / operating income before credit loss expense for Financial Businesses. 2 For EPS calculation, see Note 8 to the Financial Statements. 3 In July 2006, a par value reduction of CHF 0.60 per share was distributed, after which the UBS share was split 2-for-1. Dividends are normally declared and paid in the year subsequent to the reporting period. On a post-split basis, a dividend of CHF 1.60 per share was paid on 24 April 2006, CHF 1.50 on 26 April 2005, CHF 1.30 on 20 April 2004 and CHF 1.00 on 23 April 2003. A dividend of CHF 2.20 per share will be paid on 23 April 2007, subject to approval by shareholders at the Annual General Meeting. The USD amount per share will be determined on 19 April 2007. 4 Net profit attributable to UBS shareholders / average equity attributable to UBS shareholders less distributions.

CHF million, except where indicated	31.12.06	31.12.05	31.12.04	31.12.03	31.12.02
Balance sheet data
Total assets	2,396,511	2,058,348	1,737,171	1,554,032	1,350,905
Equity attributable to UBS shareholders	49,686	44,015	33,632	33,350	35,701
Average equity to average assets (%)	1.93	1.79	1.84	2.23	2.65
Market capitalization	154,222	131,949	103,638	95,401	79,448
Shares
Registered ordinary shares	2,105,273,286	2,177,265,044	2,253,716,354	2,366,093,528	2,512,595,356
Treasury shares	164,475,699	208,519,748	249,326,620	273,482,454	282,461,382
BIS capital ratios
Tier 1 (%)	11.9	12.8	11.8	11.8	11.2
Total BIS (%)	14.7	14.1	13.6	13.4	13.7
Risk-weighted assets	341,892	310,409	264,832	252,398	238,790
Invested assets (CHF billion)	2,989	2,652	2,217	2,098	1,959
Personnel Financial Businesses (full-time equivalents)
Switzerland	27,018	26,028	25,990	26,662	27,972
Europe (excluding Switzerland)	12,687	11,007	10,764	9,906	10,009
Americas	30,819	27,136	26,232	25,511	27,350
Asia Pacific	7,616	5,398	4,438	3,850	3,730
Total	78,140	69,569	67,424	65,929	69,061
Long-term ratings¹
Fitch, London	AA+	AA+	AA+	AA+	AAA
Moody's, New York	Aa2	Aa2	Aa2	Aa2	Aa2
Standard & Poor's, New York	AA+	AA+	AA+	AA+	AA+
1 See the Handbook 2006/2007 for information about the nature of these ratings.

Balance Sheet Data
CHF million	31.12.06	31.12.05	31.12.04	31.12.03	31.12.02
Assets
Total assets	2,396,511	2,058,348	1,737,171	1,554,032	1,350,905
Due from banks	50,426	33,644	35,419	31,959	32,777
Cash collateral on securities borrowed	351,590	288,435	210,606	206,519	139,049
Reverse repurchase agreements	405,834	404,432	357,164	320,499	294,067
Trading portfolio assets	627,036	499,297	389,487	354,558	261,080
Trading portfolio assets pledged as collateral	251,478	154,759	159,115	120,759	110,365
Positive replacement values	328,445	333,782	284,577	248,206	247,421
Loans	312,521	279,910	241,803	220,083	211,707
Liabilities
Due to banks	203,689	124,328	120,026	129,084	83,561
Cash collateral on securities lent	63,088	59,938	51,301	48,272	36,870
Repurchase agreements	545,480	478,508	422,587	415,863	366,858
Trading portfolio liabilities	204,773	188,631	171,033	143,957	106,453
Negative replacement values	332,533	337,663	303,712	254,768	247,206
Financial liabilities designated at fair value	145,687	117,401	65,756	35,286	14,516
Due to customers	570,565	466,907	386,320	351,583	306,876
Debt issued	190,143	160,710	117,856	88,874	115,798
Equity attributable to UBS shareholders	49,686	44,015	33,632	33,350	35,701


US GAAP Income Statement Data
	For the year ended
CHF million	31.12.06	31.12.05	31.12.04	31.12.03	31.12.02
Operating income
Interest income	87,380	58,791	38,991	39,802	39,612
Interest (expense)	(80,463)	(49,488)	(27,245)	(27,628)	(29,334)
Net interest income	6,917	9,303	11,746	12,174	10,278
Credit loss (expense) / recovery	156	375	334	(74)	(112)
Net interest income after credit loss (expense) / recovery	7,073	9,678	12,080	12,100	10,166
Net fee and commission income	25,881	21,436	18,435	16,606	17,481
Net trading income	12,548	7,012	4,795	3,944	5,870
Other income	1,742	747	1,158	382	(65)
Total operating income	47,244	38,873	36,468	33,032	33,452
Operating expenses
Personnel expenses	23,771	19,542	17,970	17,234	18,224
General and administrative expenses	7,944	6,469	6,420	5,917	6,953
Depreciation of property and equipment	1,277	1,272	1,295	1,368	1,573
Amortization of other intangible assets	143	119	103	110	1,443
Total operating expenses	33,135	27,402	25,788	24,629	28,193
Operating profit from continuing operations before tax	14,109	11,471	10,680	8,403	5,259
Tax expense	2,932	2,995	1,966	1,790	456
Minority interests	(95)	(138)	(322)	(350)	(331)
Net profit from continuing operations	11,082	8,338	8,392	6,263	4,472
Net profit from discontinued operations	404	3,976	420	250	435
Change in accounting principle: cumulative effect of adoption of "AICPA Audit and Accounting Guide, Audits of Investment Companies" on certain financial investments, net of tax					639
Cumulative adjustment of accounting for certain equity-based compensation plans as cash settled, net of tax			6
Cumulative adjustment due to the adoption of SFAS 123 (revised 2004), "Share-Based Payment" on 1 January 2005, net of tax		38
Net profit / (loss)	11,486	12,352	8,818	6,513	5,546


US GAAP Balance Sheet Data
CHF million	31.12.06	31.12.05	31.12.04	31.12.03	31.12.02
Assets
Total assets	2,634,628	2,279,257	1,903,239	1,699,060	1,296,991
Due from banks	51,416	33,427	35,286	31,758	32,481
Cash collateral on securities borrowed	351,461	288,304	208,778	203,645	139,073
Reverse repurchase agreements	361,571	359,883	357,164	320,499	294,086
Trading portfolio assets	627,160	505,717	378,281	349,023	268,263
Trading portfolio assets pledged as collateral	401,176	272,494	230,223	195,469	173,582
Positive replacement values ¹	332,128	337,105	284,468	248,924	83,757
Loans	316,141	277,471	238,604	220,142	211,755
Goodwill	28,530	28,104	26,977	26,775	28,127
Other intangible assets	2,340	1,665	1,722	1,174	1,222
Other assets	84,027	75,992	101,121	64,434	21,367
Liabilities
Due to banks	206,985	127,252	119,021	127,385	83,178
Cash collateral on securities lent	60,878	59,897	47,548	46,151	36,870
Repurchase agreements	520,351	464,957	423,513	415,863	366,858
Trading portfolio liabilities	236,929	201,212	190,907	149,380	117,721
Obligation to return securities received as collateral	49,088	67,430	12,950	13,071	16,308
Negative replacement values ¹	439,495	432,290	360,345	326,136	132,354
Due to customers	597,139	481,784	397,157	352,364	306,872
Accrued expenses and deferred income	22,131	19,106	15,229	14,072	15,729
Debt issued	306,994	240,212	164,744	123,259	129,527
Shareholders' equity	64,523	61,616	52,359	52,865	55,267
1 Positive and negative replacement values represent the fair values of derivative instruments. From 2003 onwards they are presented on a gross basis under US GAAP.

Certain prior year US GAAP amounts have been reclassified to conform to the current year's presentation.

Ratio of Earnings to Fixed Charges

The following table sets forth UBS's ratio of earnings to fixed charges on a IFRS basis for the periods indicated. The ratios are calculated based on earnings from continuing operations. Ratios of earnings to combined fixed charges and preferred stock dividend requirements are not presented as there were no preferred share dividends in any of the periods indicated. The ratios are calculated on a US GAAP basis and are not materially different from the IFRS ratios for the periods presented.

	For the year ended
	31.12.06	31.12.05	31.12.04	31.12.03	31.12.02
IFRS	1.17	1.24	1.34	1.24	1.10