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Mark Steinert appointed Global Head of Equity Research

London / United Kingdom Media Releases EMEA

London (26th October 2005) - UBS Investment Bank announced today the appointment of Mark Steinert as Global Head of Equity Research, effective November 1st 2005. Mark will replace Tom Hill who takes up the post of Chief Communications Officer in January 2006.

Mark will report to Daniel Coleman and John Wall the Joint Global Heads of Equities and will relocate from Sydney to New York.

Mark joined UBS in Australia in 1994 from Jones Lang LaSalle. In May 2004 he was appointed to his current role as Head of Australasian Equities for UBS. Prior to this, Mark held a number of roles in research, including Global Head of Real Estate Research from 2001-2004 and Australasian Head of Real Estate Research from 2000 - 2004. He is also currently on the Global Investment Bank board.

Commenting on his appointment John Wall said:

"Mark and his team have built a top-rated franchise with one of the broadest service models in the Australia/New Zealand market, and we are confident Mark will continue this success as Global Head of Equity Research."

Daniel Coleman added: "He brings to the role a fresh perspective, superb business and leadership skills, and a proven track record. He is committed to maintaining UBS's position with our client base."

UBS is recognised as the number one Investment Bank in Australasia, with the top secondary trading market share of 12%, the leading research platform, and is rated number one in equity, equity-linked issuance and M&A.