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Peter Clarke appointed Head of UBS Global Asset Management in Canada

| Media Releases Americas

UBS Global Asset Management today announced the appointment of Peter Clarke as head of UBS Global Asset Management in Canada. His appointment is effective immediately.

Peter Clarke was previously head of the Institutional Sales and Client Service Group where he was responsible of all aspects of UBS Global Asset Management's Institutional business in Canada and more recently the Central North American region. In this role, Mr. Clarke worked closely with some of the firm's larger and more sophisticated mandates, and directed the client service and business development team. He joined UBS Global Asset Management in 1994 as Vice President of the Atlantic Canadian Region. Prior to joining the firm, Mr. Clarke was Vice President of National Sales and Service for an internationally owned institutional investment manager and participated as a member of that firm's Investment Policy Committee. He has been in the asset management business for more than 20 years.

"Peter Clarke's appointment shows that UBS Global Asset Management in Canada has the strength and depth of its management team to ensure continuity in the business," said Kai Sotorp, Head of UBS Global Asset Management for the Americas. "Peter's thorough understanding of the Canadian marketplace and of our clients' needs will ensure we continue to provide relevant investment solutions and excellence in client servicing."

"Peter Clarke brings the necessary experience and in-depth understanding of the Canadian market to the role," said Michael Wilson, Chairman of UBS Canada. "UBS enjoys a leading position in Canadian investment management, and Peter's appointment shows the company's strong commitment to this market."

"I'm looking forward to the challenge of leading UBS Global Asset Management in Canada," said Peter Clarke. "We have a great team of dedicated people and we will continue to focus on our clients. As a global investment manager, we have a distinctive position in the Canadian market, combining the full range of our global offerings together with a strong local presence."

Contacts
Graeme Harris, Canada
Tel. +1 416 350-2804
Christine Walton, New York
Tel. +1 212 882-5688

Toronto, April 28, 2005
UBS