UBS News Alert


UBS proposes three candidates for election to Board

| Media Releases Global

The UBS Board of Directors will propose three candidates for election to the Board at the Annual General Meeting (AGM) on 15 April 2004. The nominees are Stephan Haeringer, Helmut Panke and Peter Spuhler.

Three candidates will be proposed for election to the Board of Directors at the UBS Annual General Meeting (AGM) to be held on 15 April 2004 in Basel.

Helmut Panke, born in 1946, is Chairman of the Board of Management of BMW AG, Munich, Germany. He has been with the company since 1982. Before his appointment as Chairman, he was a member of the BMW's Board of Management, responsible for finance and earlier for human resources. Between 1993 and 1996, he led BMW Holding in the US.

Peter Spuhler, born in 1959, is the owner of Stadler Rail AG in Bussnang, Thurgau, which he took over in 1989. At that time, it was a small company with 18 people which has now expanded into an international company with 950 employees. Spuhler is also a member of the Swiss National Council (the lower house of parliament).

In September, UBS announced that it would propose Stephan Haeringer, born in 1946, for election to the Board of Directors at the 2004 AGM. He is currently Deputy CEO of UBS, and he is being nominated to the Board as Vice Chairman.

"Our Board will be significantly strengthened with these three new members. The two external nominees bring entrepreneurial experience in different fields to the Board while Stephan Haeringer will strengthen its banking expertise," Marcel Ospel, Chairman of the Board of Directors, commented.

The new members will replace Johannes A. de Gier, born in 1944, who has announced his resignation effective at the 2004 AGM and Hans Peter Ming, born in 1938, who will have reached the statutory retirement age during the term of office that ends at the AGM in 2004.

Zurich / Basel, 23 December 2003
UBS