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Wallace C. Henderson to join UBS as Managing Director in Energy Investment Banking

| Media Releases Americas

New York, June 22, 2004--UBS announced today that Wallace C. Henderson will join the firm's Investment Banking Division as a Managing Director and will head the New York-based members of the Energy Investment Banking Team. Mr. Henderson will be based in New York and will report to Stephen Trauber, Vice-Chair and Global Head of Energy Investment Banking. Mr. Henderson is expected to join UBS in July.

Mr. Henderson will join from Credit Suisse First Boston where he serves as a Managing Director in that firm's Latin American Group. Prior to that, he was a Managing Director in CSFB's Oil & Gas Group.

"I am very happy that Wallace has decided to join UBS," said Stephen Trauber. "He brings a wealth of expertise and his work with a broad array of energy clients, including some of the largest integrated oil companies in the world, will only help to bolster our Energy investment banking franchise."

Mr. Henderson earned his BA from Kenyon College and his MBA from Columbia Business School.

UBS is one of the world's leading financial firms, combining financial strength with a reputation for innovation and a global culture that embraces change. UBS is the world's largest wealth manager, a premier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking.

UBS, headquartered in Zurich and Basel, employs around 66,000 people, and has operations in over 50 countries and in all major financial centers.


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