Investor releases

UBS Announces Management Appointments Following Acquisition of Banco Pactual S.A.

Zurich / Basel / New York Investor Releases

UBS today announced management leadership for its Latin American operations and a new Global Head Products & Services for Global Wealth Management & Business Banking (Global WM&BB) as a result of the acquisition of Banco Pactual S.A., which is expected to close in the third quarter of this year.

Andre Esteves, 37, currently Managing Partner of Banco Pactual S.A., has been named CEO and Chairman of UBS Latin America, reporting to Huw Jenkins, Chairman and CEO of UBS Investment Bank.

Jürg Haller, 48, currently Global Head Products & Services for UBS Global WM&BB, will become Chief Operating Officer, Deputy CEO and Deputy Chairman of UBS Latin America operations, reporting to Esteves. He will oversee the integration of Pactual and the existing UBS business in Brazil.

Michael Weisberg, 36, currently Head Products & Services North America will take over the role of Global Head Products & Services for UBS Global WM&BB. Weisberg will report to Marcel Rohner, Chairman and CEO, UBS Global Wealth Management & Business Banking.

These management appointments will be effective upon the closing of the Pactual acquisition, which is expected for September 2006. UBS announced on May 9, 2006 that it will acquire Banco Pactual and integrate it into UBS's Investment Banking, Asset Management and Wealth Management businesses.