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UBS in co-operation with T-Online.

| Media Releases Switzerland

UBS is to offer selected services via the Internet portal www.t-online.de. International private clients will be able to access information and services provided by UBS which are specially tailored to their needs.

UBS and T-Online have joined forces to offer selected financial services via the German Internet portal www.t-online.de. The portal, operated by Europe's largest Internet service provider, covers over 50 per cent of all German-speaking Internet users - more than any other site.
Gabriela Payer Fruithof, UBS Switzerland's Head of E-Channels and Products, says: "T-Online is the ideal partner to help us raise our profile among private clients all over Europe and make them aware of what we stand for - security, reliability and trustworthiness. In addition, our presence on T-Online will allow us to give an entirely new audience access to our products and services."

UBS's new German Internet venture is aimed at clients domiciled outside Switzerland. Its pages on T-Online include information on the domestic private banking services UBS provides in Germany. On top of this, UBS Quotes supplies comprehensive stock exchange and financial market information. Clients who wish to invest in Switzerland can also access the UBS e-banking platform directly via www.t-online.de.

There are plans to extend this partnership with T-Online to other projects.

Zurich/Basel, 2 May 2001
UBS AG