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UBS Opens Latest Private Wealth Management Office for Ultra High Net Worth Clients

Houston Media Releases Americas

UBS Financial Services Inc. announced today that it has opened this year's first Private Wealth Management office in Houston, Texas dedicated to serving the specialized needs of the Firm's clients with assets greater than $10 million. With this latest office, UBS has eight dedicated Private Wealth Management offices across the U.S.

The office is located at 4400 Post Oak Parkway and is part of a series of planned offices nationwide that offer a comprehensive suite of brokerage, trust and private banking services.

The Houston office is composed of a staff of Private Wealth Advisors, Private Wealth Management Consultants, and related service personnel. Private Wealth Advisors have completed the Firm's rigorous internal accreditation program that focuses on a range of sophisticated wealth management strategies.

Through their Private Wealth Advisors, clients will be able to draw upon the expertise of resident Consultants in such diverse disciplines as trust and estate planning strategies, lending services, charitable giving, investment management, alternative investments and structured products.

"We are very pleased to open our latest Private Wealth Management office in Houston, our first in the Southwestern United States," said John Straus, Head of Private Wealth Management and Chairman of the Private Bank. "This office will enable us to enhance the services we offer our ultra high net worth clients in the region and is a logical expansion for our Private Wealth Management offering."

The new office will be managed by John T. McCauley, Managing Director.

UBS Financial Services Inc. is a subsidiary of UBS AG.

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 leading global 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 38% of its employees working in the Americas, 33% in Switzerland, 17% in the rest of Europe and 12% in Asia Pacific. UBS's financial businesses employ more than 80,000 people around the world. Its shares are listed on the SWX Swiss Exchange (SWX), the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE).


Allison Chin-Leong, UBS Media Relations, New York Tel. +1-212-882 5693

Houston, March 31, 2008