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UBS's position in own shares above reporting limit of 5%

| Media Releases Switzerland

UBS's position in its own shares has moved above the SWX Swiss Exchange's statutory limit of 5%. On 13 June 2001, UBS held 5.1% (64.8 million) of its registered shares, and a potential 1.3% in the form of derivatives.

The Group's position in its own shares now includes 28.9 million shares (2.3% of all registered shares) purchased under the 2002 share buyback program as well as 28.8 million shares that were bought in the buyback program a year earlier. The shares purchased under the 2001 program will be cancelled on 5 July 2002 following the fulfillment of legal requirements.
The remaining UBS shares held include those purchased by UBS Group Treasury for employee share ownership and option programs, and a limited position held by UBS Warburg for trading purposes.

After cancellation of the shares on 5 July 2002, UBS's position in its own shares is expected to fall below the 5% limit.

Zurich / Basel, 17 June 2002
UBS AG