Annual Review 2006
This year's Annual Review looks at some major global trends, and the part UBS plays in them. It also contains a summary review of UBS's 2006 financial performance, businesses and corporate governance.

Handbook 2006/2007
The Handbook contains a detailed description of UBS, its strategy, organization, businesses, employees and corporate governance.
The Handbook comprises:

• strategy. With an analysis of the long-term trends that influence the financial services industry

• the UBS workforce. Developments, composition, diversity and information on human resources management

• wealth and asset management. With disclosure of the composition of invested assets in the wealth and asset management businesses

• Investment Bank. Strategy and position, including details on gross capital market and corporate finance fees earned in 2006

• credit risk. Including in-depth analysis of credit risk, the composition of credit risk exposures and disclosure of credit risk hedging activities

• market risk. An analysis of market risk exposure in 2006 including an overview of the volatility of daily trading revenues

• treasury management. Describing UBS's interest rate and currency management, hedge accounting and liquidity and funding management

• corporate governance. UBS's leadership structure and processes

• compensation. Full information on compensation, shareholdings and loans of senior executives and independent directors. The compensation chapter is also available as a separate report.

• corporate responsibility. An overview of UBS's corporate responsibility processes, anti-money laundering measures, community affairs programs and its global environmental management system.

Financial Report 2006
The Financial Report 2006 includes the audited Financial Statements of the UBS Group for 2006 and 2005. It also contains discussion and analysis of the financial and business performance of UBS and its Business Groups, as well as all specific disclosures required by Swiss and US regulations.
Disclosure contained in the Financial Report includes:

• balance sheet and cash flow statement. Analysis of the year-end balance sheet and cash flow statement, as well as disclosure and discussion of off-balance sheet arrangements and contractual obligations

• audited financial notes. Which includes additional disclosure required by the U.S. Securities and Exchange Commission, detailed information on compensation and reporting on UBS's pension and post-retirement benefit plans

UBS will also file its Annual Report on Form 20-F today, which contains the complete audited financial statements and other information, with the United States Securities and Exchange Commission. The Form 20-F filing will be available for viewing and downloading at www.ubs.com/1/e/investors/sec_filings, where readers may also order hard copies of our financial statements free of charge.

Hard copies of our annual reporting products can also be requested, free of charge, by contacting UBS, orally or in writing, at the following address:

UBS AG
Printed & Branded Products,
P.O. Box, CH-8098 Zurich, Switzerland
Tel: +41-44-234 11 11
email: sh-iz-ubs-publikationen@ubs.com

Asia's future impact on global financial markets
Neutral for stocks, negative for bonds, positive for commodities