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Glenn H. Tongue Joins UBS Warburg's Financial Sponsors Group

| Media Releases Americas

UBS Warburg announced today that Glenn H. Tongue has joined the firm as a managing director in the Financial Sponsors group. Based in New York, Mr. Tongue will focus his efforts on the financial entrepreneur community. He will report to Warren Woo, managing director and head of the Financial Sponsors group.

Prior to joining UBS Warburg Mr. Tongue served as president of CSFBdirect, the online brokerage subsidiary of Credit Suisse First Boston. (previously known as DLJdirect). Before that, he was a managing director in DLJ's Leverage Finance Investment Banking group where he covered financial sponsors and buyout firms since 1989. Mr. Tongue began his career in a family owned business prior to joining the investment banking group at Merrill Lynch in 1987.

Glenn's expertise in the leverage finance and financial sponsor arenas will be a great benefit to our growing roster of clients," said Woo. He has an outstanding track record both as a business builder and valued client advisor."

UBS Warburg is a business group of UBS (NYSE: UBS), one of the largest financial services firms in the world with 71,000 employees in more than 40 countries. UBS Warburg is a leader in equities, corporate finance, M&A advisory and financing, financial structuring, fixed income issuance and trading, foreign exchange, derivatives and risk management. The firm is one of four business groups of UBS AG along with UBS PaineWebber, UBS Global Asset Management and UBS Switzerland.

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Inquiries: Denise M. Kazmier: +1 212-713-3090 of UBS Warburg