Deposit Date:            April 12, 2006
Termination Date:   July 31, 2007
CUSIP:                        29475W708
Ticker:                        PGLDRX
Status:                       Closed

Additional information about this series:
Distribution frequency and tax reporting
Performance, holdings and fees

1. Objectives and Goals

• The Equity Opportunity Trust, Special Situations Trust Series 12 - ‘‘Global Dividend Ruler’’ Stocks (‘‘Trust’’) seeks total return through dividend income and capital appreciation by investing for approximately 16 months in a fixed portfolio of 26 domestic stocks and foreign stocks held in the form of American Depositary Receipts (‘‘ADRs’’) (‘‘Portfolio’’) chosen by UBS Financial Services Inc., the Sponsor.
• The 26 domestic stocks and ADRs, chosen by the Sponsor on April 10, 2006, were included in the Portfolio because they best met the Sponsor’s criteria for ‘‘global dividend ruler’’ stocks and, in the Sponsor’s opinion, have stable and likely growing dividend income potential.
• You can invest in the Portfolio by purchasing units of the Trust (‘‘Units’’). Each Unit represents an equal share of the Portfolio domestic stocks and ADRs and is entitled to an equal share of dividend income generated by such stocks after deducting Trust expenses.

2. Investment Strategy — The "Global Dividend Ruler" Stocks
Although dividends have always been a significant component of historical return, the Sponsor believes that they have deservedly regained investors’ attention, especially since the May 2003 tax cut sharply reduced the dividend tax rate to 15%. The Sponsor observes that with the tax rate on dividends and capital gains now equal, many companies are responding by initiating or increasing dividends. In the Sponsor’s opinion, rising dividend payout ratios and dividend per share growth rates will enhance stock returns, providing investors with a stable, and likely growing, income stream along with capital appreciation potential.

Therefore, the Sponsor created its "global dividend ruler" strategy in order to identify companies that have had a history of consistently increasing dividends along with earnings.  Although past performance is no guarantee of future results, the Sponsor believes that stocks issued by companies which meet all four of the criteria set forth below should benefit from the re-emergence of dividends: these are stocks whose historical dividend growth  has been "straight as a ruler" during the past ten year period.

The Portfolio contains 26 domestic stocks and ADRs chosen by the Sponsor on April 10, 2006
because as of that date all such stocks met each of the four criteria of the ‘‘global dividend ruler’’ strategy set forth below:

• a dividend yield greater than the yield of the S&P 500 Index*;
• rated Buy 1 or Buy 2 by UBS Investment Research (See ‘‘UBS Investment Research Ratings System’’ in the prospectus);
• a 10-year compound average growth rate of dividends per share greater than 4%; and
• exhibited the greatest consistency** of their last 40 quarterly cash dividend payments.

While applying each of these four criteria to current dividend paying stocks, the Sponsor isolated the actual dividend payment as the main criterion to find stocks that grow their dividends not only at a healthy rate, but also consistently.

In addition to the above characteristics, the Portfolio includes a mix of stocks diversified across various sectors. The Sponsor observes that many of the ‘‘global dividend ruler’’ stocks tend to be issued by companies in the less cyclical sectors of the economy.

Certain of the Global Dividend Ruler stocks in the Portfolio are ADRs, which are negotiable U.S. securities that generally represent a non-U.S. company’s publicly traded equity or debt. Generally, ADRs are designed for use in the U.S. securities markets. American Depositary Receipts are created when a broker purchases the non-U.S. company’s shares on that company’s home stock market and delivers those shares to the depositary’s local custodian bank, who then instructs the depositary bank to issue ADRs. American Depositary Receipts may also be purchased in the U.S. secondary trading market and ADRs may trade freely, just like any other security, either on an exchange, NASDAQ or in the over-the-counter market, and can be used to raise capital. American Depositary Receipts are receipts typically issued by an American bank or trust company that evidence ownership of underlying securities issued by a foreign corporation; the ADRs may not necessarily be denominated in the same currency as the underlying securities into which they may be converted.

*The S&P 500 Index is an unmanaged index of 500 Stocks calculated under the auspices of Standard & Poor’s, which, in the view of UBS Financial Services Inc., is a broadly diversified, representative segment of the market of all publicly traded stocks in the United States. The index is unmanaged and is not available for direct investment.

** Using historical data, the Sponsor has measured the consistency of a stock's cash dividend payment over the past 40 quarters by determining a linear "best fit" line for each stock's cash dividend payment over such period. The stocks that demonstrated the least amount of deviation from this straight line were deemed to have the most consistent dividend growth

Distribution Frequency
Dividends, if any, payable quarterly commencing 6/25/06 for holders of record on the 10th of the month.

Tax Reporting
This information should not be used for tax purposes. Trust distributions are categorized when paid by the trustee and may be reclassified for tax purposes at year end. Please refer to the prospectus or consult your tax advisor regarding the tax implications of these distributions.

Reinvestment Option
Investors may elect to reinvest dividend and capital distributions, if any, into the Trust at the then-current net asset value with no initial sales charge. Such units will be subject to the deferred sales charges remaining on units received.

UITs are sold by prospectus only.

Investors should consider the investment objectives, risks, charges and expenses associated with this investment and should carefully review the prospectus containing this and other information, before investing.

Please contact your Financial Advisor for a prospectus. Please read it carefully before you invest or send money.