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UBS's position in own shares below reporting limit of 5%

Media Releases Switzerland

UBS announced today that it has split its shares 3 for 1, bringing its share price to a level more in line with other leading global financial services companies. The move is consistent with UBS's goal to broaden its retail share ownership, particularly in the United States. Based on the closing price of UBS shares on the New York Stock Exchange on Friday, July 13, the adjusted share price would be USD $45.50.

UBS's position in its own shares has moved below the statutory stock exchange reporting limit of 5% due to the cancellation of 18.4 million shares repurchased during its buyback program active during 2000.

Before market opening on 16 July, the par value of the UBS share will be reduced by CHF 1.60. Additionally, UBS will split its shares 3 for 1. Trading in the shares with a reduced par value of CHF 2.80 will commence today.

Zurich/Basel, 16 July 2001