Investor releases


UBS's position in own shares below reporting limit of 10%

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UBS's position in its own shares has moved below the SWX Swiss Exchange's statutory limit of 10%. On 30 June 2004, UBS held 6.7% of its registered shares, and a potential further 0.5% in the form of derivatives.

The 59,482,000 shares purchased under the 2003 share buyback program have been cancelled after the fulfillment of legal requirements. Therefore, the number of UBS shares issued has decreased from 1,183,046,764 at year end to 1'125'400'202.

UBS's position in its own shares of 74'927'579 shares now include 16'105'094 shares purchased under the 2004/2005 share buyback program. The remaining 58'822'485 UBS shares held include those purchased by Group Treasury for employee share ownership and option programs, and a limited position held by UBS's Investment Bank for trading purposes.

Zurich / Basel, 5 July 2004
UBS

Zurich / Basel, 5 July 2004
UBS