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

| Media Releases Switzerland

As of Thursday, 23 March 2006, 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

1.625%

1.25%

3 years

1.75%

1.50%

4 years

1.875%

1.625%

5 years

2.00%

1.75%

6 years

2.125%

1.875%

7 years

2.125%

2.00%

8 years

2.25%

2.00%

Time Deposit Accounts

Duration

New Rate

Old Rate

2 years

1.625%

1.25%

3 years

1.75%

1.50%

4 years

1.875%

1.625%

5 years

2.00%

1.75%

6 years

2.125%

1.875%

7 years

2.125%

2.00%

8 years

2.25%

2.00%

9 years

2.25%

2.125%

10 years

2.375%

2.125%

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

UBS