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UBS lowers interest rates

| Media Releases Switzerland

UBS is lowering its interest rates for savings accounts and youth savings accounts as well as personal accounts for young people (UBS Generation) and students (UBS Campus) by 0.25%. Interest rates for Fiscainvest retirement savings accounts and personal accounts (in CHF) for adults will remain unchanged. Savings accounts and personal accounts in EUR will earn 0.25% less interest.

UBS is lowering the interest rates it pays on deposits in response to the continued decline in domestic and European long and short-term rates. The fall in interest rates reflects the weak economy, the delayed outlook for growth and the limited risk of inflation.

The following interest rates will apply with effect from 1 January 2003:

from now on

until now

UBS savings account

0.75 %

1%

UBS Fiscainvest retirement savings account

2.00 %

unchanged

UBS personal account (adults)

0.25 %

unchanged

UBS personal account 60plus

0.50 %

unchanged

UBS savings account for young people

1.75%

2%

UBS Generation personal account

1.5%

1.75%

UBS Campus personal account

1.5%

1.75%

UBS euro personal account

1%

1.25%

UBS euro savings account

1.75%

2%

Media Release / 31KB

Zurich / Basel, 18 December 2002
UBS AG