Team Alinghi To Host U.S. Regatta In June 2004

"UBS Trophy At Newport, Rhode Island"

New York, December 12, 2003 - Team Alinghi, winners of the America's Cup 2003, will host a new event, the UBS Trophy, Newport, Rhode Island from June 19 - 26, 2004. UBS, the global financial services leader, will be the title sponsor of the event, with co-sponsors, local sponsors and suppliers announced next spring. The regatta will give teams an opportunity to compete against each other in the United States prior to America's Cup Management events scheduled in Europe later next year.

The 7-day match racing series will be held on the historic waters off Newport, Rhode Island, the historic home of the America's Cup. Under the management of Team Alinghi, but with an independent Race Committee appointed by the New York Yacht Club, the racing will start and finish in front of Fort Adams (weather permitting).

"The UBS Trophy, Rhode Island is an important event for Team Alinghi, as it will be the official start of our campaign for the Americas Cup 2007," said Russell Coutts, Team Alinghi's leader. "It will also be an organizational challenge for us, as we are committed to run a great event. Bringing the Cup back to Newport will be fantastic, and we are very grateful to UBS for helping us make this event possible."

By sponsoring the UBS Trophy, Rhode Island, UBS is underscoring its commitment to America's Cup sailing and launching its Team Alinghi sponsorship to a targeted U.S. audience.

"The UBS Trophy, Rhode Island provides UBS with a unique way to extend our sponsorship of Team Alinghi and our involvement with America's Cup sailing to a U.S. audience," said John Costas, chairman and chief executive of UBS Investment Bank. "We are thrilled to help bring this event to Newport and proud to be involved with the effort to make America's Cup-style racing more accessible to the general public."

The UBS Trophy, Rhode Island, will herald the first time that the sleek IACC class have raced off the famous shores of Newport. The event will be televised internationally, and an exciting race format will ensure compelling viewing for sailors and non-sailors alike.

Said Donald Carcieri, Rhode Island Governor, "Rhode Island is excited to be working in partnership with Alinghi and UBS to bring America's Cup Class racing back to the Ocean State. It is an honor for Rhode Island to be in the company of Auckland, San Francisco and Valencia as venues for this exciting class."

The UBS Trophy, Rhode Island, will be accessible to the public in all respects, with the event base at the Newport Shipyard providing easy access to both boats and teams. A full complement of on-shore festivities including exhibition races are planned to mark this exciting event.

"We are looking forward to racing a great series in Newport, a town steeped in America's Cup tradition," said Peter Holmberg, helmsman, Team Alinghi: "It's been a long time since Americans have had America's Cup class racing on the East Coast, and our goal is to keep the racing close to the shore, exciting and accessible for the public to enjoy. "

The competition will pitch old rivals and new against each other, with Oracle BMW Racing having confirmed their participation and other teams indicating their desire to race.

A press conference will be held next spring in Newport to confirm further details of the event.

The America's Cup
The America's Cup is the oldest trophy in international sport. The 32nd America's Cup will consist of a series of regattas between 2004 and 2007, culminating in the Louis Vuitton Cup and the America's Cup Match itself in Valencia, Spain, in 2007.

Team Alinghi
The defender of the 32nd America's Cup is Team Alinghi. Alinghi flies the Swiss flag and carries the colours of the Société Nautique de Genève. For the 2002- 2003 America's Cup, the team was backed by UBS and Infonet, as well as Audemars Piguet and Riri. Its' partners for the 2007 campaign are UBS, Infonet, Audemars Piguet, SGS and Nespresso. Visit our Internet site at www.alinghi.com.

UBS
UBS is one of the world's leading financial firms, combining financial strength with a reputation for innovation and a global culture that embraces change. It is the world's largest wealth manager, a premier investment banking and securities firm, and one of the largest global asset managers. UBS, headquartered in Zurich and Basel, employs almost 66,000 people and has
operations in over than 50 countries and all major financial centers.