Our commitment to you includes providing you with insights, ideas and information so you are well informed on the topics important to your financial well-being. One way we help meet this objective is through Wealth Management magazine. In each issue, we provide thought-provoking articles on planning, investment strategies and solutions, as well as offering market perspectives and research recommendations¹ — all representing the best thinking of our experts and designed to help you reflect on your own wealth management and the passions that may drive your personal and financial goals.

We hope you find the magazine constructive and informative. Wealth Management is published bi-annually.

Our current issue, May 2008, features the following articles:

• Navigating the Markets in Today's Global Economy. UBS Wealth Management Research provides its insights and opinions on the current state of the markets.
  
  
• Mapping the Investor's Mind. The brain's emotional behavior may have a far greater influence on the financial markets than economists once thought.
  
  
• Survival Skills for the Sandwich Generation. Survival tips are provided for those "sandwiched" between caring for aging parents and children, while trying to save for retirement at the same time.
  
  
• Consulting as a Way to Live the "Second Life" in Retirement. For a growing number of today's retirees, consulting engagements are a great way to remain socially and intellectually active.
  
  
• The Art of Collecting. Investment in art, classic cars and antiques continues to attract interest from high-net-worth individuals.
  
  
• A Passion for Challenge. Coffee tycoon and entrepreneur Francesco Illy turned to a new business in wine to satisfy his thirst for challenge.

¹ UBS Wealth Management Research in the U.S. is provided by UBS Financial Services Inc. and UBS AG. UBS Financial Services Inc. is a subsidiary of UBS AG. UBS Wealth Management Research and any affiliate of UBS AG may publish research, express opinions or provide recommendations that may be inconsistent with each other and/or may be inconsistent with investing in a specific product. Investors should make their own independent investigation of the merits of investing in any particular product. Two sources of UBS Research are available to you as a UBS client. One source is UBS Wealth Management Research. UBS Wealth Management Research is part of UBS Global Wealth Management & Business Banking (the UBS business group that includes, among others, UBS Financial Services Inc. and UBS International Inc.), whose primary business focus is individual investors. The second source is UBS Investment Research. UBS Investment Research is part of UBS Investment Bank, whose primary business focus is institutional investors. Because both sources of information are independent of one another and reflect the different assumptions, views and analytical methods of the analysts who prepared them, there may exist a difference of opinions between the two sources.

Neither UBS Financial Services Inc. nor its employees provide tax or legal advice. You must consult with your tax and/or legal advisors regarding your personal circumstances.