UBS prolongs acceptance period for Auction Rate Securities Rights Offer until 19 December 2008. More than 94% of the market value of ARS Rights Series A, 96% of Series B, 90% of Series C and 97% of Series G have been accepted by clients since the offer period began on 7 October 2008.
The clients eligible for UBSs ARS Rights Offer – individuals, charities, government entities, small businesses, corporations and institutions were sent personalized notifications from UBS by mail following the beginning of the offer on 7 October 2008.
The Rights are for ARS that were not successfully cleared at auction from 8 August 2008 to 7 October 2008, and were either:
1)Purchased between 1 October 2007, and 13 February 2008, and transferred to another firm prior to 13 February 2008, or
2)Held in a UBS account on 13 February 2008, or transacted in an execution account at UBS but custodied away from UBS (also known as Delivery vs. Payment, or DVP, account) for which UBS had bidding rights.
Eligible clients who accept UBSs ARS Rights Offer may continue to hold their securities or sell them to UBS at par at any time during specific exercise periods, which are determined by the types of clients and the sizes of their corresponding marketing households. Complete details of the Rights Offer are available in the prospectus that was delivered to eligible clients at the beginning of the offer.
L.D.