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UBS to boost China research coverage

| Media Releases APAC

UBS today announced that it plans to increase its research coverage of China stocks by in excess of 50% over the coming months.

The planned expansion will enhance coverage of the basic materials, financial institutions, oil & gas, energy, technology, media and telecoms sectors in line with UBS's existing research model. Additional stock-pickers in Joe ZHANG's [Head of China Research] team will be complemented by the top-down expertise already in place in the form of Jon ANDERSON, Head of Asia Pacific Economics, and Vincent CHAN, Head of China Economics and Strategy.

Institutional Investor, Asiamoney and The Asset rank UBS's China Research team Number One while Asiamoney also ranks UBS's Sales Services, Sales Trading and Execution capabilities Number One. At present, UBS analysts cover of in excess of 60 A-shares and H-Shares.

"We already have more than 20 employees dedicated solely to the coverage of Chinese stocks. However, by around March 2004 I fully expect our China-focused headcount to increase by around 50% primarily via the addition of research analysts but with additional resources also devoted to the sales team," said Michael OERTLI, Head of Asia Equity Research.

"As part of our QFII (Qualified Foreign Institutional Investor) initiative, we initiated research coverage of nine A-share companies and are targeting coverage of more than 100 stocks representing 40% of the A-Share market by the end of 2004," he added.

"UBS is extremely proud to be the Number one-ranked house for China research. In order to maintain that position, it is essential for us to provide high-quality coverage of the key stocks and sectors in the huge A-share market," said Oertli.

On 15th October, UBS announced that it had filled its initial US$300 million quota under China's recently established QFII programme.


Hong Kong, 6 November 2003
UBS