UBS

 

Following UBS AG's (the "Company") Annual General Meeting of April 14th, 2010, where the discharge for 2007 has not been granted to the former members of the Board of Directors and management, and considering the attitude of the current Board of Directors who is not willing to initiate on behalf of the Company (and its shareholders) any legal action against the former directors for their alleged negligence, Deminor is evaluating all available legal actions open to the Company's shareholders.

 

Deminor carried out in 2007-2008 an in-depth analysis of the Company's write-downs, and came to the conclusion that the Board of Directors and management repeatedly failed to disclose the Company's real exposure to subprime investments in due time. Moreover, it became clear that the Company did not have an appropriate risk management system required to identify and manage the substantial subprime and real estate risks that the Company had taken on its various business units, despite public allegations to the contrary. We believe the former management, directors and (under certain conditions) the Company should be held liable for the severe losses inflicted to the Company and its shareholders.

 

As a first step, we invite you to support our formal request to the Board of Directors to undertake legal actions against the former directors and management aimed at obtaining compensation for the losses suffered by the Company and its shareholders.

 

You can express your support by registering on our website www.mydeminor.com. Your registration for this action is free of charge and without any commitment to join any law suit or to undertake any other action against the Company or its Board of Directors.

 

Your registration will remain confidential and we will not disclose your name to the Company or any third party, unless you explicitly tick the appropriate box "I agree that you disclose my identity" on the registration pages. However, please note that in our contacts with the Board of Directors we will indicate the total number of investors who registered on www.mydeminor.com and the current number of shares held by them.

 

In order to be successful, Deminor needs the support of a large and representative group of investors.

 

This action shall take an end on August 15th, 2010.

 

Should the Company fail to honor our request, we will propose all interested investors to join a legal action against the former directors or management, or the Company itself. For this second stage (if any), we will propose you a contract of services (including remuneration for Deminor).

 

For any questions, please send an e-mail to Erik Bomans (erik.bomans@deminor.com) and Edouard Fremault (edouard.fremault@deminor.com) or call the Brussels office (+32.2.674.71.10).

 

For assistance in German, please send an e-mail to Bruno Wagner (bruno.wagner@deminor.com) or call the Cologne office (+49 221 554 05 475).
For assistance in Italian, please send an e-mail to Rosario Marcone (rosario.marcone@deminor.com) or call the Milan office (+39 02 873 84 600).