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UBS Names New Health Care Analysts

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Carl Seiden to Cover Major Pharmaceuticals; David Molowa to Cover Biotechnology

NEW YORK, May 4 /PRNewswire-FirstCall/ -- UBS today announced the appointment of two senior healthcare analysts for U.S. Equity Research: Carl Seiden, who will cover major pharmaceuticals, and David Molowa, who will cover biotechnology. Both join as managing directors and will based in New York.

"Carl and David are in the top tier of healthcare analysts on Wall Street and we are delighted to welcome them to UBS," said Raul Esquivel, director of U.S. Equity Research. "They are outstanding additions to our coverage of the health care sector."

Mr. Seiden joins UBS from JP Morgan, where he ranked #1 in major pharmaceuticals on both the 2003 and 2002 Institutional Investor All-America teams. Prior to his tenure at JP Morgan, he was the senior pharmaceutical analyst at Sanford Bernstein. He earlier held positions in strategic planning at Bristol Meyers Squibb and corporate marketing at General Electric. Mr. Seiden holds an M.S. in marketing from the Wharton School and a B.S. in biology from Union College.

Mr. Molowa, also from JP Morgan, has covered biotechnology since 2000. In 2003, he ranked as a runner-up on Institutional Investor's All-America team. Before JP Morgan, he was a biotechnology and health care analyst at Bear Stearns and earlier was a senior research biochemist and research lab director for Merck Labs. He earned his PhD in pharmacology from the Medical College of Virginia and holds an MBA from Rutgers University and a BS in biology from the University of Richmond.

UBS is one of the world's leading financial firms, combining financial strength with a reputation for innovation and a global culture that embraces change. It is the world's largest wealth manager, a premier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking. UBS, headquartered in Zurich and Basel, employs 66,000 people, and has operations in over 50 countries and in all major financial centers.

Source: UBS

CONTACT: William Dentzer of UBS, +1-212-713-8515