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UBS ranked 1st place in 2004 Institutional Investor inaugural Emerging EMEA Research Team survey

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UBS announced today that the firm has been named the top-rated equity research firm in emerging markets in Europe, the Middle East and Africa in Institutional Investor magazine's inaugural Emerging EMEA Research Team survey.

UBS achieved a total of 10 team positions including 2 first team analysts, 2 second team analysts, and 5 third team analysts.
Tutu Agyare, Head of Emerging European Equities commented:

"We are delighted that our clients have recognised our efforts to provide them with a quality research product. For UBS's Emerging European Research Team this is an outstanding result and acknowledges the importance of Emerging European Research as a category in its own right".

This follows the firm's success in February when UBS was ranked number one in Institutional Investors Magazine 2004 All-Europe Research Team Survey and first in Pan-European Institutional Equity Sales and Pan-European Trading and Execution.

London, 12 March 2004


Sam Smith, Media Relations

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