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David Waring appointed as Joint Head of the Energy Team, Investment Banking, EMEA

| Media Releases EMEA

UBS announced today the appointment of David Waring as Joint Head of Energy Investment Banking, EMEA.

Based in London, David Waring, will join UBS in September as Managing Director and report to Stephen Trauber, Global Head of Energy Investment Banking, and Jeff McDermott and Alex Wilmot-Sitwell, joint Heads of Investment Banking, EMEA.

David joins from Deutsche Bank where he was Head of Energy, Europe.

Commenting on his appointment Stephen Trauber said: "I am delighted that David will be joining Roger Ader to jointly head the Energy team in London. At a time of increased activity in the sector his appointment will further strengthen our well established franchise in Europe."

London, 22 June 2005
UBS