Trevor joins from JP Morgan Chase where he was Joint Senior Country Officer and Head of the Investment Banking Division. Trevor is one of Australia's most highly regarded and respected investment bankers, specialising in mergers & acquisitions, corporate strategy, capital markets and structuring advice.

"We are delighted that Trevor is joining our team," said Chris MACKAY, Chief Executive Officer, Australasia. "Trevor will fit in well. Many of us, and our clients, have worked with and alongside Trevor for many years and have immense respect for his skills and advice."

Commenting further, Joint Heads of Investment Banking, Matthew GROUNDS and Richard HUNT said, "Trevor will help improve our client service and make our leading investment banking and advisory team even stronger."

Trevor will focus upon client relationships and investment banking advice for existing and new clients.

"UBS has undoubtedly been the most successful investment bank over the past decade. They have established themselves as an excellent and reliable partner for a wide range of clients. I am looking forward to working with a bank and management team that has proven its ability to deliver successfully and consistently across the entire product spectrum," said Trevor Loewensohn.

Sydney, 17 December 2003
UBS