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

| Media Releases Switzerland

As of Tuesday, 4 September 2001, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

Medium-Term Bonds

Time Deposit Accounts

Duration

New Rate

Old Rate

2 years

2.50%

2.75%

3 years

2.50%

2.75%

4 years

2.75%

2.75%

5 years

2.75%

3.00%

6 years

2.75%

3.00%

7 years

3.00%

3.00%

8 years

3.00%

3.25%

Duration

New Rate

Old Rate

2 years

2.50%

2.75%

3 years

2.50%

2.75%

4 years

2.75%

2.75%

5 years

2.75%

3.00%

6 years

2.75%

3.00%

7 years

3.00%

3.00%

8 years

3.00%

3.25%

9 years

3.25%

3.25%

10 years

3.25%

3.25%

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

Zurich / Basel, 4 September 2001
UBS AG