UBS Investment Bank announces the hire of Lok Lee to head its European High Yield and Mezzanine Capital Markets team.

London, 3 November 2005 - UBS Investment Bank announced today the hire of Lok Lee as Head of European High Yield and Mezzanine Capital Markets. Based in London, Lok joins as Managing Director and will report to Edward Massaro, Global Head of Leveraged Finance and High Yield and Loan Capital Markets.

Lok joins UBS from Accela International, a San Francisco based investment management firm he co-founded. Previously, Lok was based in London and Head of European High Yield Capital Markets at JP Morgan and prior to that, in the High Yield Capital Markets team at Deutsche Bank.

Commenting on the appointment Massaro said: "I am delighted that Lok is joining UBS Investment Bank. Lok brings with him a wealth of experience of the High Yield Capital Markets in Europe and his presence will greatly strengthen our High Yield and Mezzanine Capital Markets franchise.