Annual General Meeting 2004


Record of resolutions of the Annual General Meeting of UBS AG, held in the St. Jakobshalle, Basel, at 2.30 p.m. on Thursday, 15 April 2004.

Formal matters

Chairman: Marcel Ospel, Chairman of the Board of Directors
Minutes: Gertrud Erismann-Peyer, Secretary to the Board of Directors

Notary providing official certification of the passed resolution in respect of the amendment to the Articles of Association: Andreas Rebsamen, Notary, Arlesheim

Vote count: BDO Visura, Solothurn

Independent proxy pursuant to Art. 689c of the Swiss Code of Obligations: Fiduciary company Altorfer Duss & Beilstein, Zurich.

Group and Statutory Auditors, also acting as qualified auditors in respect of the proposed capital reduction: Ernst & Young AG, Basel, represented by Roger Perkin and Peter Heckendorn.

The Invitation to the Annual General Meeting was published in the Swiss Commercial Gazette and various daily newspapers on 17 March 2004. In addition, printed copies of the invitation were sent to shareholders listed in the Share Register.
As such the Annual General Meeting was quorate.
No requests for including items on the agenda were received from shareholders pursuant to Art. 699 para. 3 of the Swiss Code of Obligations and Article 12 of the Articles of Association of UBS.
Voting on all items on the agenda was carried out electronically.

At 2.39 p.m., 2,439 shareholders were present, representing 315,369,722 votes (54.41% of shares with voting rights). Votes were represented as follows:

Independent proxy

29,052,590 votes

Corporate proxy

214,165,525 votes

Custody proxy

59,757,834 votes

In its capacity as corporate and custody proxy, UBS represented a total of

273,923,359 votes