NEW YORK, April 11 /PRNewswire-FirstCall/ -- UBS Warburg announced today
that it has added to its asset-backed securities team in New York.  The group
is headed by Shahid Quraishi who has been appointed managing director and head
of U.S. Asset-Backed origination.  Quraishi, who joins UBS Warburg from Bank
of America, will report to Ramesh Singh, global head of Residential Mortgages
and Asset-Backed Securities.
    Also joining UBS Warburg from Bank of America are Paul Scialabba, Reggie
DeVillers, Peter Faigl and Daniel Huang.  Separately, the firm has hired
Mostifiz Mohammed, a senior asset-backed banker from Wachovia and Tamer
El-Rayess, a principal finance banker from Goldman Sachs.
    "We are very excited to announce that these talented people have joined
UBS Warburg," said Michael Hutchins, co-head of Fixed Income.  "We now have
the industry's number one mortgage team joined by leading asset-backed
professionals on a solid global platform."
    UBS Warburg's CMO business finished the first quarter of 2002 ranked
number one.  The firm's mortgage analyst, Laurie Goodman, is ranked number one
by Institutional Investor.
    UBS Warburg also announced that in an effort to augment origination in its
leading agency and non-agency CMO business, that Peter Slagowitz will join the
firm from Credit Suisse First Boston.  Slagowitz will be appointed executive
director, head of UBS Warburg's mortgage conduit business, reporting to Singh.
Bill Moss, also of Credit Suisse, will join the firm and will report to
Slagowitz.
    "Taken together these announcements enhance our origination capability and
increase the suite of products we can offer issuers and investors," said
Singh.  "At the same time, we have filled out an All-Star team of talent that
puts UBS Warburg in position to be the premier mortgage-backed and
asset-backed firm on Wall Street."

    UBS Warburg is a business group of UBS AG (NYSE: UBS), one of the largest
financial services firms in the world with 70,000 employees in more than 40
countries. UBS Warburg is a leader in equities, corporate finance, M&A
advisory and financing, financial structuring, fixed income issuance and
trading, foreign exchange, derivatives and risk management. UBS Warburg is one
of four business groups of UBS along with UBS PaineWebber, UBS Global Asset
Management and UBS Switzerland.

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