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UBS appoints David Graham General Counsel - Asia Pacific

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UBS has appointment David GRAHAM as General Counsel - Asia Pacific, effective 10th May 2004. Graham replaces Kath CATES who became Regional Operating Officer - Asia Pacific, and a member of the UBS Investment Bank Board earlier this year.

Graham joins UBS from Morgan Stanley where he was General Counsel for Asia Pacific (ex-Japan) for three years from 2001. He is also a Deputy Chairman of the Hong Kong Takeovers and Mergers Panel; a member of the Hong Kong Takeovers Appeal Tribunal; Hong Kong Share Registrars Disciplinary Committee; and Hong Kong Securities and Futures Appeals Tribunal.

Before joining Morgan Stanley, Graham was a partner in Freshfields - a leading international law firm - for 10 years, having joined the firm as a trainee in 1982. While in private practice, Graham specialised in corporate law, public and private mergers and acquisitions, joint ventures and international securities offerings in various sectors including telecommunications, pharmaceuticals, financial services and utilities. From 1990 until 1992 he was Joint Secretary of the UK Takeover Panel.

"David is one of the leading General Counsels in Asia Pacific and his appointment demonstrates the high priority that UBS attaches to ensuring that its Legal and Compliance functions continue to be at the forefront of the industry. I am confident that David will build upon the strong legacy that he inherits from Kath Cates and her team, and lead the function in the next stage of its development in Asia Pacific," said Robert C. DINERSTEIN, Global General Counsel UBS Investment Bank and Member of the UBS Investment Bank Management Committee.

Hong Kong, 14 April 2004