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

| Media Releases Switzerland

As of Thursday, 20 February 2003, 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

0.75 %

0.75 %

3 years

0.875 %

1.00 %

4 years

1.125 %

1.25 %

5 years

1.375 %

1.50 %

6 years

1.625 %

1.625 %

7 years

1.75 %

1.875 %

8 years

2.00 %

2.00 %

Time deposit accounts

Duration

New Rate

Old Rate

2 years

0.75 %

0.75 %

3 years

0.875 %

1.00 %

4 years

1.125 %

1.25 %

5 years

1.375 %

1.50 %

6 years

1.625 %

1.625 %

7 years

1.75 %

1.875 %

8 years

2.00 %

2.00 %

9 years

2.125 %

2.125 %

10 years

2.25 %

2.25 %

We therefore request that you take the new interest rates into account when compiling tables in the finance section of your newspaper.

Zurich / Basel, 19 February 2003