Extraordinary General Meeting 2 Oct 18

The Board of Directors takes note of the resignation of Stephan Haeringer, Rolf Meyer, Peter Spuhler and Lawrence Weinbach from the Board of Directors of UBS on the day of the Extraordinary General Meeting of the 2 October 2008. The Chairman expresses his gratitude to the resigning Board Members and wishes them all the best for the future.

Item 1.1.: Election of Sally Bott

The Board of Directors proposes that Sally Bott be elected as an independent member to the Board of Directors for a term of office to expire at the 2009 Annual General Meeting. It intends to appoint Sally Bott to the Human Resources and Compensation Committee. Sally Bott introduces herself in a short video portrait.

After the portrait is shown the Chairman opens up the discussion to item 1.1. Six speakers comment generally on the significance of Board Members, on their election, the qualification of the candidate, her introduction as well as the compensation policy.

The General Meeting elects Sally Bott as follows:

Item 1.3.: Election of Bruno Gehring

The Board of Directors proposes that Bruno Gehrig be elected as an independent member of the Board of Directors for a term of office to expire at the 2009 Annual General Meeting. It intends to appoint Bruno Gehrig to the Audit Committee. Bruno Gehrig introduces himself in a short video portrait.

After the portrait is shown the Chairman opens up the discussion to the item. No discussion takes place.

The General Meeting elects Bruno Gehrig as follows:

Item 1.4.: Election of William G. Parrett

The Board of Directors proposes that William G. Parrett be elected as an independent member of the Board of Directors for a term of office to expire at the 2009 Annual General Meeting. It intends to appoint William G. Parrett to the Audit Committee. William G. Parrett introduces himself in a short video portrait.

After the portrait is shown the Chairman opens up the discussion to the item. No discussion takes place.

The General Meeting elects William G. Parrett as follows:

Adjustment to the new UBS corporate governance effective as of 1 July 2008 (Title of Article 20, Articles 20 para. 1, 21 para. 2, 24 lit. e, 29 and 30 of the Articles of Association)

As of 1 July 2008 UBS has implemented new organisational regulations regarding its corporate governance. The new model clarifies the separation of responsibilities between the Board and the Group Executive Board and abolishes the Chairman's Office.

The Board of Directors proposes to adjust the Articles of Association to the new UBS corporate governance

Two speakers involve in a short discussion. The General Meeting approves the motion of the Board of Directors.

The notary, Dr Matthias Staehelin from Münchenstein, will provide official certification of the resolutions passed in respect of the amendments to the Articles of Association.

The meeting closes at 14.31 p.m.

Basel, 2 October 2008

On behalf of the Board of Directors:

Peter Kurer, Chairman
Luzius Cameron, Company secretary