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All UBS Wealth Management USA clients to receive relationship information brochure

| Media Releases Americas

Strengthening the relationship between You & Us

UBS Wealth Management USA today announced that all clients in the US and Puerto Rico will receive a copy of a new brochure aimed at helping clients better understand the products and services UBS provides, including their benefits, risks and cost. With this brochure entitled, "Information About your Relationship with US," UBS is helping lead the financial industry in making the financial services business transparent for clients.

In clear, plain language, the Client Relationship Brochure consolidates information about how UBS establishes and maintains strong relationships with clients; the different ways that clients can conduct business with UBS; and how UBS and its Financial Advisors are compensated.

"At UBS, transparency is integral to our intimate approach to client relationships," said Mark Sutton, Chairman and CEO of UBS Wealth Management USA. "The Client Relationship Brochure is a valuable client resource and the latest important advancement in strengthening the relationship between You & Us."

"For us to advise and serve our clients appropriately and to address their personal wealth management needs, it is essential that they understand and are comfortable with how we conduct our business and are compensated."

UBS clients will receive the brochure with their April statements, which they will begin receiving in early May. The brochure will be posted to the UBS website in May and included in all new client kits. The brochure will be reviewed and updated annually, or sooner if warranted by a material change in a products or services.

UBS is one of the world's leading financial firms, combining financial serving a discerning client base. As an organization, it combines financial strength with a culture that embraces change.

UBS is the world's largest wealth manager, a top tier investment banking and securities firm, a key global asset manager. In Switzerland, UBS is the market leader in retail and commercial banking.

For a copy of the brochure please contact UBS Corporate Communications at 212-882-5857.

NEW YORK, May 5, 2005
UBS