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UBS Investment Bank ranked 1st place in the Thomson Extel Survey 2005 for Pan-European Equity Research, Sales and Trading & Execution

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UBS Investment Bank announced today that the firm has been ranked 1st for Pan-European Equity Research in the Thomson Extel Survey 2005 for the fifth consecutive year.

The survey also places UBS 1st for Pan European Equity Sales and Trading & Execution - awards UBS has won every year since their inception in 2002. UBS was also awarded leading Pan-European Brokerage Firm for Mid and Small Caps.

Michael Oertli, Head of European Equity Research commented:

"We are very pleased to win for the fifth year running. Our goal has always been to provide our clients with premier research to help them make informed investment decisions and we are delighted to be recognised for this by our clients."

These achievements follow the firm's success in February when UBS European Equity Research was ranked first in Institutional Investor Magazine's 2005 All-Europe Research Team survey for the fourth consecutive year and first in Pan-European Institutional Equity Sales and Pan-European Trading and Execution.

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