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UBS Natural Gas & Electric Utilities Conference Opens Today in New York

New York Media Releases Americas

The UBS Natural Gas & Electric Utilities Conference opens today and continues through tomorrow at The Pierre Hotel in New York City. The conference, themed "Fueling Growth," will feature formal presentations by senior management of 19 prominent companies in the sector with a keynote luncheon presentation and a panel discussion on "Finding Growth."

"Natural Gas & Electric Utility shares continue to trade near historically high valuations," said UBS managing director Ronald J. Barone, conference host and Senior Analyst of the UBS Utilities Group. "Though yield remains highly important, we have gathered some of the key names in the space to help us decide if there is further risk-adjusted capital appreciation over the next 12-24 months from current trading levels and where."

Topics to be covered include: fuel supplies, the impact of rising energy costs in the rate-making arena, escalating environmental expenditures, challenges in expanding coal and nuclear generation, the impact of LNG, the deployment of free cash flows.

In today's keynote luncheon presentation, Cheniere Energy will discuss "The Regasification of North America." Tomorrow, a three-panel group of Natural Gas executives will discuss growth opportunities.

The Natural Gas & Electric Utilities Conference reflects UBS's universal and comprehensive approach to covering the utilities sector, with more than 140 natural gas and electric utilities covered by some 40 research professionals around the world.

Online conference information

To access audio transmissions and the conference agenda please go to the UBS Investment Bank website at Audio transmissions of company presentations will be available live and by replay. Replays will begin three hours after the actual presentation time and will be available on the site for four weeks.

UBS Securities 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 50 countries. UBS 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.

Inquiries: Allison Chin-Leong +1-212-882-5693 (office)

New York , February 15, 2006