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Stephen J. Ketchum Joins UBS Warburg as Head of Satellite Investment Banking Group

Media Releases Americas

New York, April 27, 2001 - UBS Warburg announced today that Stephen J. Ketchum has joined the firm as head of Satellite Telecommunications Investment Banking. Mr. Ketchum will be a managing director and will report to Jeffrey A. Sine, global head of Technology, Media and Telecom Investment Banking.

Prior to joining UBS Warburg, Mr. Ketchum was the chief executive officer of Onview, Inc. Before that, Mr. Ketchum was a managing director and senior member of the Satellite Investment Banking group at Donaldson, Lufkin and Jenrette, which he joined in 1990.

"We are excited to have Steve join our growing Technology, Media and Telecommunications Investment Banking group," said Sine. "His expertise in raising equity and high-yield capital for satellite and wireless companies will greatly enhance our banking coverage of this important sector."

UBS Warburg is a business group of UBS (NYSE: UBS), one of the largest financial services firms in the world with 71,000 employees in more than 40 countries. The firm is a leader in equities, corporate finance, M&A advisory and financing, financial structuring, fixed income issuance and trading, foreign exchange, derivatives and risk management. UBS Warburg also offers a full range of innovative wealth management services through UBS PaineWebber, and provides private equity financing through UBS Capital.

Inquiries: Denise M. Kazmier: +1 212-713-3090 of UBS Warburg