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Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds.

| Media Releases Switzerland

As of Monday, 26 March 2001, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

Medium-Term Bonds

Duration

New Rate

Old Rate

2 years

2.75%

3.00%

3 years

2.75%

3.00%

4 years

2.75%

3.00%

5 years

3.00%

3.00%

6 years

3.00%

3.00%

7 years

3.00%

3.25%

8 years

3.25%

3.25%

Time Deposit Accounts

Duration

New Rate

Old Rate

2 years

2.75%

3.00%

3 years

2.75%

3.00%

4 years

2.75%

3.00%

5 years

3.00%

3.00%

6 years

3.00%

3.00%

7 years

3.00%

3.25%

8 years

3.25%

3.25%

9 years

3.25%

3.25%

10 years

3.25%

3.50%

Zurich / Basel, 23 March 2001

UBS AG