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UBS Warburg Names Aryeh Bourkoff Cable and Satellite Analyst for Equity and High Yield Research

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UBS Warburg announced today Aryeh Bourkoff, head of high yield cable and telecommunications research for UBS Warburg, will be adding coverage of cable and satellite stocks, while maintaining high yield coverage of the cable and satellite sector. He will work out of both the New York and Stamford offices and report jointly to Steve Ruggiero, head of Global High Yield Research, and to Raul Esquivel, head of U.S. Equity Research.

Given the fundamentals of this sector, we believe that combining equity and high yield coverage will result in a unique perspective for our clients, said Mr. Esquivel. "Aryeh has provided high yield investors with quality insight and analysis, which has made him one of the go-to analysts on the street. Aryeh is in a unique position to further enhance UBS Warburg's reputation for quality fixed income research. We believe that his increased responsibility will only accrue to the benefit of all high yield investors," added Mr. Ruggiero

In his high yield position, Mr. Bourkoff has focused on domestic and European cable and telecommunications companies. For the past three years he has been recognized as a member of Institutional Investor's Fixed-Income All-America Research Team. He ranked number one in Media/Cable & Satellite on both the 2000 and 2001 Teams, and in 2001 he also ranked number one in Telecommunications/Wireline

Prior to joining UBS Warburg, Mr. Bourkoff was the senior cable and telecommunications high yield research analyst at CIBC World Markets Corp. Before that he was a member of the High Yield Research group at Salomon Smith Barney, Inc. Mr. Bourkoff holds a bachelor's degree in economics from the University of California at San Diego.

UBS Warburg is a business group of UBS AG (NYSE: UBS), one of the largest financial services firms in the world with 70,000 employees in more than 40 countries. UBS Warburg 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 is one of four business groups of UBS AG along with UBS PaineWebber, UBS Global Asset Management and UBS Wealth Management & Business Banking.

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Inquiries: Amy Rosenberg: +1 212-713-8510 (w) of UBS Warburg