Zurich, London, 1 December 2010

Today UBS announced that it will expand its commodities footprint, combining market-leading index commodities capabilities with investor-led flow in Agriculture, Base Metals, and Energy.

UBS recently stated at its Investor Day that it is committed to commodities as part of its Investment Bank's strategic, client-centric, flow-driven business model.  Operating within a highly disciplined risk framework UBS will operate where there is clear, sustainable, and profitable client demand, including such areas as:

Neal Shear, Global Head of UBS Investment Bank Securities, said: “Commodities represents a significant part of the financial market and is a large revenue opportunity for UBS.  Our initial focus has been on bringing more quality investment products to clients in the commodity asset class. By expanding our footprint in commodities, we are now showing our clients and all of our stakeholders that we are committed to our commodity efforts and the continued diversification of our revenue streams within the Securities business."

• Flow trading in Agriculture, Base Metals, and Energy (Oil & Gas);

• Commodity Index Investments e.g. Dow Jones UBS Commodity indices, UBS Bloomberg CMCI index; and

• Energy Derivatives.

Jean Bourlot, Global Head of Commodities at UBS Investment Bank, also commented: “UBS has always maintained its core strengths in commodities, like our market leading indices and precious metals offerings – in that sense we never left.  Quite simply our expansion into flow trading, in areas such as agriculture, will leverage and complement what already exists inside UBS for the benefit of our clients and shareholders in a disciplined and sustainable way."

UBS's commitment to commodities is also underpinned by the extensive expertise amongst senior management who have joined the Investment Bank this year, including Jean Bourlot, Global Head of Commodities, Neal Shear, Global Head of Securities, and Kaushik Amin, Head of FICC for the Americas.

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