MAS IMPOSES COMPOSITION AMOUNT OF $2,000 ON UBS AG FOR LATE NOTIFICATION TO THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGES IN SUBSTANTIAL SHAREHOLDINGS

1     On 12 August 2009, UBS AG ["UBS"] paid a composition amount of $2,000 for contravening section 137 of the Securities and Futures Act ["SFA"] which requires substantial shareholders of listed companies to notify the securities exchange of a change in shareholdings.

2     UBS was late in notifying SGX-ST of its deemed shareholding change in Best World International Ltd ["Best World"] which took place on 25 January 2008.  UBS was also late in notifying Best World of its deemed shareholding change.  As a result, Best World was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.

3     UBS was late in notifying SGX-ST of its direct and deemed shareholding changes in Olam International Ltd ["Olam"] which took place during the period 23 April 08 to 10 December 08. UBS was also late in notifying Olam of its direct and deemed shareholding changes. As a result, Olam was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.

Substantial shareholders are required to notify the securities exchange of changes in their shareholdings in a timely manner. This is necessary for the proper functioning of a fair, efficient and transparent market.