The UBS World Emissions Index – the very first of its kind – represents an international benchmark for investments in tradable derivative instruments referencing emissions allowances globally. As an investor, it provides you with a suitable basis for structured financial products. Currently the following products are in subscription:

Open End PERLES in CHF and USD

Name	Issue price (ind.)	Minimum size	Valor
UBS World Emissions ER Index USD	USD 1000.00	10 Open End PERLES	2 737 714
UBS World Emissions ER Index CHF	CHF 1000.00	10 Open End PERLES	2 737 707

Subscription period: until 24 November 2006, 15:00 CET

For details and additional information on risks and opportunities, please refer to the fact sheets and terms sheets at www.ubs.com/keyinvest . Selling restrictions apply for Europe, Hong Kong, Singapore, the USA, U.S. citizens and the UK.