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UBS strengthens Debt Capital Markets team with two new specialist recruits

Sydney Media Releases APAC

UBS has appointed Fergus Blackstock and Dare Whalley to its Debt Capital Markets team within the Investment Bank in Sydney. The new appointments further strengthen the bank's financial institutions and infrastructure & utilities sector offerings.

Fergus joins UBS as an Executive Director responsible for origination and execution of debt products for clients in the financial sector who borrow both domestically and internationally.

Previously at HSBC in London, Fergus has eight years experience in debt capital markets where he oversaw more than 50 public bond issues and was consistently ranked in the top threein volume for target clients. Dare Whalley joins UBS as a Director responsible for origination in the infrastructure & utilities sector in Australia. Dare's previous sector experience includes having been Assistant Treasurer of TXU Australia and a senior relationship manager for ANZ Investment Bank, leading its infrastructure & utilities efforts.

His strong technical knowledge has seen him arrange a number of syndicated loan facilities, domestic and international bond issues (144A) and AAA credit wrapped securities in the infrastructure & utilities sector. Commenting on the new appointments, Nicholas Ross, Head of Debt Capital Markets, Australia & New Zealand, said: "It is important that the marked growth in investors' appetite for debt-related products is matched by a strong team dedicated to servicing their specialist sector needs. With Fergus and Dare on board, we are pleased to strengthen our clients specialised services in the financial and infrastructure & utilities sectors. "

The debt capital markets team works across the broad spectrum of debt related products including bonds, hybrids and associated derivative transactions.

For further information:

Ms Caroline Gurney:

(T) +612 9324 3335

(M) +61 403 279 605

Ms Michelle Chaperon:

(T) +612 9324 3286

(M) +61 416 285 907

Sydney, 27 February 2006