Notice Of A Director's (Including A Director Who Is A Substantial Shareholder) Interest And Change In Interest

BackMar 25, 2008
Part I
1. Date of notice to issuer 25/03/2008
2. Name of Substantial Shareholder UBS AG
3. Notice Type Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest.
Part II - Not Required
Part III
1. Date of change of Interest 20/03/2008
2. The change in the percentage level From 17.63 % To 16.75 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

The change is a result of the following:
(1) decrease in positions held on behalf of prime brokerage clients;
(2) decrease in discretionary positions held on behalf of UBS Global Asset Management's clients;
(3) decrease in units in MI-REIT pledged with UBS as collateral; partially offset by
(4) increase in UBS proprietary positions.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: A series of transactions.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 11,723,000 34,238,267
As a percentage of issued share capital 4.50 % 13.13 %
No. of shares held after the change 11,892,000 31,786,113
As a percentage of issued share capital 4.56 % 12.19 %

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