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UBS one of the "100 Best Companies For Working Mothers"

| Media Releases Americas

New York, September 21, 2004 - UBS announced today that it has been named one of the "100 Best Companies for Working Mothers" by Working Mother magazine. To be named to the list, public or private firms of any size and in any industry (except those in the business of providing work/life or child-care services) complete a comprehensive application including questions about a company's culture, employee population and policies on work/life and women's advancement.

With the help of industrial research firm eXpert Survey Systems, applications are validated and scored on more than 500 points of information, including the number of work/life programs offered, the employee usage of such programs and the representation of women throughout the company.

Some of the services that UBS offers that were acknowledged by Working Mother include policies towards childcare leave, adoption assistance, flexibility for employees, and the development networks for women.

"UBS is proud that Working Mother has acknowledged the wide-range of programs we offer not only to women, but all of our employees," said John Costas, Chairman and CEO of UBS Investment Bank. "By providing these services for our employees, we enable them to be the best that they can be."

"We believe that every employee can succeed and are firmly committed to coming up with solutions to help them do so," said Mark Sutton, Chairman and CEO of UBS Wealth Management USA. "Our financial advisors, in nearly 400 branches nationwide, have great flexibility to run their business on their own schedules."

"We feel that offering these programs helps us develop a diverse talent pipeline for our firm," said Kai Sotorp, Head of Global Asset Management in the Americas

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 more than 68,000 people, and has operations in over 50 countries and in all major financial centers.

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