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UBS lowers interest rates

| Media Releases Switzerland

UBS is lowering its interest rates for savings accounts, personal accounts for young people and senior citizens and personal accounts in euros by 0.25% with effect from 1 June 2002. The interest rate for savings accounts in euros will be reduced by 0.5%. Interest rates for Fiscainvest retirement savings accounts and personal accounts for adults will remain unchanged.

UBS is lowering the interest rates it pays on deposits in response to the decline in domestic long and short-term rates caused by the strong Swiss franc and falling international rates.

The following interest rates will apply from 1 June 2002:

new

previously

UBS savings account

1.00 %

1.25 %

UBS Fiscainvest retirement savings account

2.50 %

unchanged

UBS personal account (adults)

0.25 %

unchanged

UBS personal account 60plus

0.50 %

0.75 %

UBS savings account for young people

2.00 %

2.25 %

UBS Generation personal account

1.75 %

2.00 %

UBS Campus personal account

1.75 %

2.00 %

UBS euro personal account

1.25 %

1.50 %

UBS euro savings account

2.00 %

2.50 %

Zurich / Basel, 22 May 2002
UBS AG