Communiqués de presse


UBS et PaineWebber font connaître la date d'achèvement de la transaction.

| Media Releases Switzerland

La reprise de PaineWebber sera chose faite le vendredi 3 novembre 2000.
Conformément au contrat de reprise, le délai d'option des actionnaires de PaineWebber prendra fin le mercredi 1er novembre 2000, à 17h00 (heure de New York). D'ici à cette date, ils sont tenus de faire connaître à leur établissement chargé de l'échange la forme de compensation désirée .

Sous réserve des dispositions d'attribution convenues dans le contrat, les actionnaires de PaineWebber peuvent opter entre une compensation en espèces d'USD 73,50 ou un échange d'actions à raison de 0,4954 action UBS par titre PaineWebber.
Si un actionnaire ne respecte pas le délai de décision, on supposera qu'il n'a aucune préférence quant à la forme de la compensation.

Zurich / Bâle, le 27 octobre 2000
UBS Please refer to the proxy statement/prospectus for further details about the procedures shareholders must follow.

Information concerning proxy materials:
This communication is not a solicitation of a proxy from any security holder of Paine Webber Group, Inc. UBS and PaineWebber have filed with the Securities and Exchange Commission a proxy statement/prospectus which has been mailed to PaineWebber security holders and other relevant documents concerning the planned merger of PaineWebber into a subsidiary of UBS. WE URGE INVESTORS IN PAINEWEBBER TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors can obtain the documents free of charge at the SEC's website, www.sec.gov. In addition, documents filed with the SEC by UBS are available free of charge from Investor Relations, UBS, Stockerstrasse 64, Zurich. Documents filed with the SEC by PaineWebber are available free of charge from Geraldine Banyai, Assistant Secretary, 1285 Ave of the Americas, New York, New York 10019.

This press release contains forward-looking statements. These forward-looking statements are found in various places throughout this press release and include, without limitation, statements concerning the expected timing and benefits of the proposed merger. While these forward-looking statements represent our judgments and future expectations concerning the development of our business and the timing and benefits of the merger, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, the inability to obtain, or meet conditions imposed for, governmental and other approvals for the transaction; and other key factors that we have indicated could adversely affect the merger contained in our past and future filings and statements, including those filed with the United States Securities and Exchange Commission. All statements regarding matters following the completion of the merger of UBS and PaineWebber are subject to such completion.

Please refer to the proxy statement/prospectus for further details about the procedures shareholders must follow.

Information concerning proxy materials:
This communication is not a solicitation of a proxy from any security holder of Paine Webber Group, Inc. UBS and PaineWebber have filed with the Securities and Exchange Commission a proxy statement/prospectus which has been mailed to PaineWebber security holders and other relevant documents concerning the planned merger of PaineWebber into a subsidiary of UBS. WE URGE INVESTORS IN PAINEWEBBER TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors can obtain the documents free of charge at the SEC's website, www.sec.gov. In addition, documents filed with the SEC by UBS are available free of charge from Investor Relations, UBS, Stockerstrasse 64, Zurich. Documents filed with the SEC by PaineWebber are available free of charge from Geraldine Banyai, Assistant Secretary, 1285 Ave of the Americas, New York, New York 10019.

This press release contains forward-looking statements. These forward-looking statements are found in various places throughout this press release and include, without limitation, statements concerning the expected timing and benefits of the proposed merger. While these forward-looking statements represent our judgments and future expectations concerning the development of our business and the timing and benefits of the merger, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, the inability to obtain, or meet conditions imposed for, governmental and other approvals for the transaction; and other key factors that we have indicated could adversely affect the merger contained in our past and future filings and statements, including those filed with the United States Securities and Exchange Commission. All statements regarding matters following the completion of the merger of UBS and PaineWebber are subject to such completion.