14.03.2005 – 16:32

Institutional Investor Magazine

Institutional Investor Magazine Names UBS Leader in 2005 Rankings of Emerging Europe, Middle East and Africa Research Teams

New York (ots/PRNewswire)

For the second consecutive year, UBS
is the top-ranked provider of EMEA research, according to the annual
Institutional Investor magazine survey of investors to determine the
best sell-side equity research coverage for the Emerging European,
Middle Eastern and African markets.

UBS, the Swiss banking giant, captures the No. 1 spot based
largely on strengths such as a balance sheet healthy enough to fund
long-term investment and a strategic incentive to beat American
rivals in its own backyard. Deutsche Bank takes second in the 2005
Emerging EMEA Research Team, with ING Financial Markets and U.S.
interloper Merrill Lynch tying for third.

The leading firms in II's 2005 Emerging EMEA Research Team, ranked
by the number of team positions they win, are:

RANK
    2005  2004      FIRM
     1     1        UBS
     2     4        Deutsche Bank
     3     2        ING Financial Markets
     3     3        Merrill Lynch
     5     5        Renaissance Capital
     6     7        CA IB International Markets
     6     5        Smith Barney Citigroup
     8     7        HSBC Bank
     8     10       J.P. Morgan
     10    -        Credit Suisse First Boston

The ranking was compiled by II under the direction of Director of
Research Operations Group Sathya Rajavelu, Assistant Managing Editor
for Research Lewis Knox and Senior Editor Jane B. Kenney, with Senior
Associate Editor Tucker Ewing. Contributing Editor Ben Mattlin and
Contributors Pam Baker, Eric Baum, Suzanne Lorge, Scott Martin, Paul
Sweeney and Victoria Zunitch wrote the sector reports.

For a more in-depth look at this research team, please visit our
Web site, http://www.institutionalinvestor.com. There you will find,
among other data, the weighted rankings of research firms, investors'
ranking of the importance of various attributes of research service,
a statement of our methodology and a complete index of ranked
analysts and firms. Results of Institutional Investor's other
research teams are also available on the site.

Web site: http://www.institutionalinvestor.com

Contact:

Kim Lemmonds, +1-212-224-3650, for Institutional Investor Magazine