In advance of its Annual General Meeting (AGM) on 14 April, UBS announces that it expects to report a profit before tax of at least CHF 2.5 billion for first quarter 2010.

Net new money outflows in all businesses were substantially lower than in fourth quarter 2009. UBS estimates that net outflows in first quarter 2010 were around CHF 8 billion for Wealth Management & Swiss Bank, CHF 7 billion for Wealth Management Americas and CHF 3 billion for Global Asset Management.

UBS's financial report for first quarter 2010 will be published on 4 May 2010 as planned. The AGM material is available on www.ubs.com/agm; the speeches of Kaspar Villiger, Chairman of the Board of Directors, and Oswald J. Grübel, Group CEO, will be released on 14 April at 9:15 CET.