First quarter 2008
First quarter Group net loss attributable to shareholders of CHF 11,535 million, down from a net profit of CHF 3,031 million in first quarter 2007

Net new money in the two wealth management businesses was CHF 5.6 billion; Business Banking Switzerland had net outflows of CHF 1.9 billion; Global Asset Management had net outflows of CHF 16.5 billion

Positions related to US mortgage market
In line with 1 April pre-announcement, fixed income, currencies and commodities (FICC) businesses impacted by losses of around USD 19 billion on US real estate and certain structured credit positions ­ risk positions decreased through disposals and writedowns

Capital strengthening
Following the EUR 1 billion hybrid Tier 1 issue already completed in April and the CHF 15 billion rights issue expected to be completed in June, pro-forma 31 March Tier 1 ratio would have increased to 11.8% and total capital ratio to 15.6%, among the highest in the industry

Outlook
UBS expects financial industry conditions to remain difficult – with a continuing unfavorable global economic climate, deleveraging by institutional and private investors, slower wealth creation and lower trading and capital markets activity. This will require UBS to manage costs, resources and capacity very efficiently

Webcast
UBS's first quarter results will be presented by Marcel Rohner, Chief Executive Officer, Marco Suter, Chief Financial Officer, and Tom Hill, Chief Communication Officer, starting at 9am (CET)/3am (EST). Rebroadcast at 2pm (CET)/8am (EST). An on-demand version will be available from approx. 6pm (CET)/12am (EST).