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UBS Warburg Names Mallory Brooks Head of North American Cross Rates Group

| Media Releases Americas

UBS Warburg announced today that Mallory Brooks has joined the firm as a managing director and head of its Cross Rates group in North America and co-head of the Global Hedge Fund group in the firm's Interest Rates and Foreign Exchange division. As head of the Cross Rates group, Mr. Brooks reports to Michael Ice, managing director and head of Marketing and Structuring, North America within the Interest Rates and Foreign Exchange division. In his role as co-head of the Global Hedge Fund group, Mr. Brooks reports to Raphael Geys, Global Head of Fixed Income Derivatives Marketing and Structuring in the Interest Rates and Foreign Exchange division.

Mr. Brooks will be responsible for aligning the coverage, delivery and execution of interest rates products to the firm's customer base.

Mr. Brooks was formerly managing director and head of the Cross Rates group at Deutsche Bank, where he was responsible for coordinating the global coverage of hedge funds for the rates business. Prior to Deutsche Bank, Mr. Brooks was a vice president at Merrill Lynch in its Financial Futures and Options Sales group.

We are pleased that Mallory has joined this important initiative for the firm," said Mr. Ice. His experience in this area and proven commitment to clients will further enhance our efforts to serve our clients."

UBS Warburg's Cross Rates group was formed in 2002 to better align the coverage, delivery and execution of interest rate products to customers across the spectrum of government and agency bonds, swaps, options and second-generation derivative products.

UBS Warburg is a business group of UBS AG (NYSE: UBS), one of the largest financial services firms in the world with more than 70,000 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. UBS Warburg is one of four business groups of UBS AG along with UBS PaineWebber, UBS Global Asset Management and UBS Wealth Management & Business Banking.

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Inquiries: Kristopher Kagel 1+ 212-713-8703 of UBS Warburg