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UBS develops Active Quantitative Equities capabilities

| Media Releases EMEA

UBS Global Asset Management announces the hiring of an Active Quantitative Equities team.

William Weng, Head of Active Quantitative Equities, who joined UBS Global Asset Management on 21 April 2008, is now joined by two portfolio managers (Todd Jablonski and Eric Leng), a further portfolio manager who joins on 1 July 2008 (Patrick Zimmermann) and four analysts (Chenye Bao, Sergio Joseph, Jeremy Raccio and Jeff Song).

Weng and his team were all previously at Credit Suisse Asset Management where they were members of the Quantitative Equities Group that developed, managed and marketed quantitative active equity strategies.

Active Quantitative Equities is a new capability for UBS Global Asset Management and the focus will be on launching new long-only, market neutral and 130/30 active quantitative equity strategies over the coming months. Active Quantitative Equities represents a significant enhancement and extension to the firm's quantitative equity capabilities.

Commenting on the arrival of Weng and his team, John Fraser, Chairman and Chief Executive Officer of UBS Global Asset Management said: "The hiring of William Weng and his team represents a further major step in diversifying our equities capabilities. Together with DSI (UBS's enhanced indexing specialist), the Active Quantitative Equities business will greatly expand our ability to deliver more sophisticated solutions to the increasingly complex problems faced by our clients. William and his team are also very familiar with China and this will be of added benefit in our efforts to further expand our business in that market."

Art Gresh, Head of Structured Equities, added: "I am greatly impressed with the professionalism and market knowledge of William and his team which has been demonstrated for many years. They will be a great addition to our Equities group."

Weng and the majority of his team are based in New York with team members also located in Chicago and Zurich. Weng reports to Art Gresh, Head of Structured Equities, based in London.

Contacts:

Karina Byrne, UBS Media Relations, New York

Tel. +1-212-882 5692

Sarah Small, UBS Media Relations, London

Tel. +44-(0)20-7568 2609