Investor releases

UBS proposes Sergio Marchionne for election to the Board of Directors

Zurich / Basel Investor Releases

At its Annual General Meeting on 18 April 2007 the UBS Board of Directors will propose Sergio Marchionne for election to the board as a non-executive member and three current members for re-election.

Sergio Marchionne, born in 1952, is Chief Executive Officer of Fiat S.p.A., Turin, as well as Fiat Group Automobiles.

Marcel Ospel, the Chairman of the Board of UBS, commented: "Sergio Marchionne has gained extensive leadership experience in a number of globally-active companies covering different industries. I am extremely happy that he is willing to stand for election to our board."

Sergio Marchionne earned his MBA at the University of Windsor, Canada, and his law degree at Osgoode Hall Law School in Toronto, Canada, and is a lawyer and chartered accountant. He is a citizen of both Italy and Canada.

The Board of Directors will also ask the AGM to re-elect Stephan Haeringer, Helmut Panke and Peter Spuhler to the board, as their terms of office will expire in 2007. After having served for six years on the Board of Directors of UBS, Sir Peter Davis' term will expire at the 2007 AGM. As he has reached the statutory age limit, he will not stand for re-election.

After the 2007 AGM, the Board of Directors should again have 12 members, which is the maximum number permitted by the UBS Articles of Association.