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The capital increase for UBS (CH) Property Fund - Swiss Residential «Anfos», which ran from 29 November to 7 December 2005, was successfully concluded on 14 December, the payment date for the new units. The strong demand during the subscription period enabled us to place all of the new units.
The bulk of the issue proceeds raised by the UBS «Anfos» capital increase is being used to purchase a new property in Zurich, which has an investment volume of around CHF 95 million. The property is scheduled to be completed in June 2006. Around CHF 25 million will be invested in the construction of a residential complex with retail floorspace in Winterthur-Hegi. The remaining issue proceeds will be used to buy additional properties, finance building projects and to repay loans.