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UBS lowers interest rates

| Media Releases Switzerland

UBS is lowering interest rates on savings accounts, savings accounts for young people, personal accounts for adults, senior citizens (60plus), young people (UBS Generation) and students (UBS Campus) and the Fiscainvest retirement savings account. The changes will come into effect on 1 April 2003.

Interest rates on current accounts for private clients as well as business and corporate clients in Swiss francs will be lowered with effect from 20 March 2003.

UBS is lowering the interest rates it pays on deposits in response to a further fall in domestic long and short-term rates. The trend towards lower interest rates continues at a steady pace, reflecting the weakness of the economy, expectations that any recovery in growth will be only gradual, and the limited risk of inflation in Switzerland and Europe.

The following interest rates will apply with effect from 1 April 2003:

The following interest rates will apply with effect from 20 March 2003:

new

previous

UBS savings account

0.5%

0.75%

UBS savings account for young people

1.25%

1.75%

UBS Fiscainvest retirement savings account

1.5%

2%

UBS personal account (adults)

0.125%

0.25%

UBS personal account 60plus

0.25%

0.5%

UBS Generation / Campus personal account

1%

1.5%

UBS savings account EUR

1.5%

1.75%

UBS personal account EUR

0.75%

1%

Individual clients:
UBS current account for private clients CHF


0.125%


0.25%

UBS current account for private clients
(foreign currencies)

0%

unchanged

Business and corporate clients:
UBS current account CHF


0.125%


0.25%

Zurich / Basel, 20 March 2003