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UBS ANNOUNCES APPOINTMENT OF CEO FOR RUSSIA/CIS

Moscow/London | | Media Releases EMEA

UBS is pleased to announce the appointment of Steven Meehan (43) as CEO for Russia/CIS. Steven, who will take up his appointment from March 2008 will report to Alex Wilmot-Sitwell, Chairman and CEO, UBS Group EMEA and Global Head, Investment Banking Department, UBS Investment Bank.

Currently Managing Director in UBS's Global Healthcare Group and Head of Life Sciences, based in New York, Steven has over 20 years' experience in the investment banking industry. Prior to joining UBS in 1999, Steven worked for Salomon Smith Barney where he was a senior Director for their environmental and medical device group. Previously he worked for NatWest Securities in New York, London and Switzerland where he was jointly responsible for building an investment banking presence in the US.

In his new role, Steven will be responsible for all our Russian and CIS businesses, focusing on the continued expansion of UBS's successful platform in the region. As part of this, he will continue with the integration of all of our businesses in Russia/CIS as well as the further development of cross-business opportunities to maximise revenue growth and profitability.

Steven succeeds Ed Nicholson who has decided to retire after 10 years with UBS to pursue other interests outside of banking.

Commenting on the appointment, Alex Wilmot-Sitwell said: "I am delighted that Steven has agreed to take on this key role. He has a strong track-record of building and growing successful businesses and will be instrumental in driving forward our integrated platform in Russia/CIS and boosting our leading position in this fast growing region. I would also like to take this opportunity to thank Ed for his contribution to the firm over the last 10 years and wish him all the best for the future."

Contacts:
EMEA
Richard Morton
Tel. +44(0)20 7568 0175
Richard.Morton@ubs.com

CV: Steven Meehan

1999-2008: Managing Director, UBS, New York
Head of Life Sciences within Global Healthcare Group Part of team of 25 to form the Healthcare Group at UBS in 1999. The group, which now comprises over 100 professionals, has for the past nine years ranked first or second globally in healthcare investment banking league tables. Member of the Deans Council and helped to form the Executive Diversity Committee.

1997-1999: Senior Director, Salomon Smith Barney (now Citi), New York
Lead effort for environmental and medical device transactions including public and private equity, convertible debt, investment grade and high yield debt and mergers and acquisitions.

1990-1997: Managing Director, NatWest Securities Limited, New York/London/Switzerland
Jointly responsible for the development of a U.S. investment banking presence. Member of the Equity Capital Markets Committee and determinant of transaction feasibility and deal parameters for public and private equity and convertible debt transactions.

1986-1990: Associate, Drexel Burnham Lambert, New York/Boston
Analyst/Associate focusing on financial analysis for mergers and acquisitions, leverage buyouts, high yield bonds and corporate restructurings. Worked with diversified industries including natural resources, financial services, communications, chemicals and manufacturing.

1986: B.S. Degree in Finance, University of Massachusetts