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Monday 05 February, 2001


Management Changes

2 February 2001

Management changes: UBS Investor Relations

Mark Branson, Head of UBS Investor Relations since November 1999, has been
appointed to an extended role as Head of Group Communications for UBS.

The UBS Investor Relations team will now be jointly headed by Christian
Gruetter, based in Zurich, and Richard Feder, based in New York.  They will both
continue to report to Mark Branson.

Christian Gruetter has been with UBS for 20 years and joined the Investor
Relations team in Zurich in 1999.

Richard Feder was Head of PaineWebber Investor Relations for 5 years until the
merger with UBS in November 2000, when he was appointed Head of UBS Investor
Relations for North America.

Mark Branson will continue to actively participate in UBS's investor relations

UBS Investor Relations can be contacted at:

Zurich     +41 1 234 4100
New York   +1 212 713 3641