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UBS Strengthens Infrastructure Advisory Practice With Addition of Three Seasoned Professionals

New York Media Releases Americas

UBS announced today that it has hired three seasoned professionals to its Infrastructure Advisory practice. Irene Walsh will join UBS as an Executive Director in UBS's Infrastructure Group. Walsh has over 25 years of experience in infrastructure, including previous work in ratings, advisory, credit banking and debt capital markets. She will be based in New York and report to Carol Rein, Americas Co-Head of Infrastructure.

Walsh, 50, was most recently a Director at KPMG in London where she advised governments and corporations globally. Previously, she was a Senior Banker with the European Bank for Reconstruction and Development (EBRD). Before joining the EBRD, Walsh was a municipal analyst at Moody's Investor Services in New York where she was on the rating committee that determined public finance ratings issued by the firm.

Walsh holds a B.A. from The George Washington University and an M.A. from the John F. Kennedy School of Government at Harvard University.

"We see strong growth for infrastructure privatization over the coming years in the U.S.," said Rein. "As we work on a number of significant transactions nationwide, we will be able to draw on the deep and diverse work experiences of our new hires."

Additionally, Michael Placencia has joined the UBS Infrastructure Group as a Director, reporting to Carol Rein. He joins from Goldman Sachs where he specialized in municipal transportation, airport and infrastructure engagements. Prior to joining Goldman Sachs, Placencia, 35, worked in the California Governor's Office. He holds a B.A. from the University of California at Berkely and an M.B.A. from the Wharton School at the University of Pennsylvania.

UBS also announced today that Bruce Crane joined the UBS Infrastructure Group as a Director, reporting to Tom Osborne, Americas Co-Head of Infrastructure. Crane, 34, joined UBS from Morgan Stanley's energy advisory group where he gained significant experience in energy sector M&A and financing. He earned a B.S. in civil engineering from Lehigh University and an M.B.A. from Columbia University.

"The addition of these seasoned professionals underscores UBS's commitment to the rapidly expanding infrastructure privatization sector in the Americas," said Osborne. "Irene, Bruce and Mike all bring significant experience and strong industry relationships that will help UBS's leading practice continue to build on its strong momentum."

UBS is one of the world's leading financial firms, serving a discerning international client base. Its business, global in scale, is focused on growth. As an integrated firm, UBS creates added value for clients by drawing on the combined resources and expertise of all its businesses.

UBS is the leading global wealth manager, a top tier 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 is present in all major financial centers worldwide. It has offices in 50 countries, with about 39% of its employees working in the Americas, 34% in Switzerland, 17% in the rest of Europe and 10% in Asia Pacific. UBS's financial businesses employ some 80,000 people around the world. Its shares are listed on the SWX Swiss Stock Exchange, the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE). Contact:

Doug Morris: +1-212-882-5694

New York, June 20, 2007