Disclosure notification in accordance with Article 20 of the Swiss Stock Exchange Act

In compliance with the Swiss Federal Act on Stock Exchanges and Securities Trading, UBS Fund Management (Switzerland) AG, PO Box, 4002 Basle, Switzerland, notified Swiss Reinsurance Company Ltd (Swiss Re), Mythenquai 50/60, 8022 Zurich, on 28 April 2008 that UBS Fund Management (Switzerland) AG, in the capacity of licensee for an authorised collective investment scheme, has fallen below the threshold of 3% of the voting rights or registered shares/other share acquisition rights in Swiss Re through a disposal as per 23 April 2008.

Contact:
Investor Relations, tel. +41 43 285 4444
Group Media Relations, Zurich, tel. +41 43 285 7171
Contact Person Shareholder - Dominik Bieri, tel. +41 44 239 6208