UBS Sailing Championship

by Press Release on 4 Apr 2002 Sailing Tournament Features One-of-a-Kind Amateur vs. Professional Competition

UBS announced today that it will sponsor the 'UBS Challenge,' the first and only sailing championship to pit the United States’ best amateur sailors against America’s Cup teams.

Part of the prestigious Swedish Match Tour, the 'UBS Challenge' begins May 4 with six regional qualifying races for amateur sailors and culminates in an early August pro/am race weekend in Newport, Rhode Island. The 'UBS Challenge' Finals mark the first time America’s Cup contenders have competed in Newport since 1983 and is one of the last major opportunities these crews will have to race against each other before
the 2003 America’s Cup trials. Currently, nine America’s Cup crews and two top-ranked professional sailors are confirmed to race for the $100,000
purse, one of the biggest in sailing.

'The sport of sailing demands the perfect combination of leadership, teamwork, strategy and skill – key attributes of world class competitors and
core values embodied by UBS,' said Donna C. Peterman, managing director and head, Communications and Marketing, UBS Americas, Inc. 'The
UBS Challenge extends the firm’s global sailing commitment to the U.S. with a one-of-a-kind sailing event for today’s premier teams.'

The 'UBS Challenge' Finals, sailed in identical racing yachts supplied by UBS, follow a mini America’s Cup match race format along a short course
near a shore-side spectator venue. The Finals are preceded by a series of Regional Qualifier events in six U.S. cities: Chicago (May 4-5), Detroit
(May 18-19), Los Angeles (June 15-16), New York (June 21-22), Houston (June 29-30) and Boston (July 13-14).

The winner of each Regional Qualifier will compete at the UBS Challenge U.S. Championships against last year’s top three finishers from the U.S.
Match Racing Championship, the top ranked U.S. Women’s match racing team and the 2001-2002 College Sailor of the Year.

The top three finishers of the UBS Challenge U.S. Championships will advance to the UBS Challenge finals. All three events are match race formats
sanctioned by U.S. SAILING, which is the national governing body for the sport of sailing in the United States, and will be judged by official umpires
from the International Sailing Federation.

'Through their sponsorship of the sport, UBS is helping to build enthusiasm and awareness for sailing in America,' said David Rosekrans, president
of U.S. SAILING. 'We are confident that the UBS Challenge will create great excitement throughout the sailing community, from the regional
regattas this spring through the finals in Newport later this summer.'

In addition to the UBS Challenge series, UBS is the main sponsor of the Alinghi, the Swiss challenger for the 2003 America’s Cup, as well as two
boats in the Volvo Ocean Race. These high-profile sponsorships underscore the firm’s commitment to the sport on a global scale.

UBS AG is a leading global financial services firm with 71,000 employees worldwide, providing a wide range of services to a client base that includes
affluent individuals, corporations, institutions and governments. Headquartered in Switzerland, the bank has significant operations in all of the
world’s major financial centers and is comprised of four business groups; UBS Warburg, UBS PaineWebber, UBS Switzerland, and UBS Asset
Management.

For more information regarding the UBS Challenge, please visit www.ubs.com/ubschallenge.