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UBS adds "USD Corporates" to its range of bond funds

| Media Releases Switzerland

UBS Global Asset Management today launched the bond fund UBS (Lux) Bond Sicav - USD Corporates (securities number 164 05 34). The subscription period runs from 11 to 22 August 2003 and the payment date is 27 August 2003. This new fund will give UBS investment clients easier access to the corporate bond market.

The USD Corporates fund uses a well-diversified range of carefully selected securities to spread the credit risk and achieve higher potential returns. It invests primarily in bonds of investment grade companies. These bonds have a Standard and Poor's rating of AAA to BBB-. At the same time, the risk/return ratio improves: the yield potential of corporates is higher than that of government bonds, though the increase in risk is proportionately lower.

The Fund Management accords great importance to diversification. Diversified investments can reduce the impact of negative company news and company-specific credit risks. There are plenty of USD corporate bonds to choose from. Over 3,600 issues with a volume of more than USD 1,900 billion currently meet the investment grade quality requirement, and nearly two-thirds have A ratings or higher.



Basel / Zurich, 11 August 2003
UBS