<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">

<head>
<META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=us-ascii">


<meta name=Generator content="Microsoft Word 12 (filtered medium)">
<style>
<!--
 /* Font Definitions */
 @font-face
        {font-family:Wingdings;
        panose-1:5 0 0 0 0 0 0 0 0 0;}
@font-face
        {font-family:"Cambria Math";
        panose-1:2 4 5 3 5 4 6 3 2 4;}
@font-face
        {font-family:Calibri;
        panose-1:2 15 5 2 2 2 4 3 2 4;}
 /* Style Definitions */
 p.MsoNormal, li.MsoNormal, div.MsoNormal
        {margin:0cm;
        margin-bottom:.0001pt;
        font-size:12.0pt;
        font-family:"Times New Roman","serif";}
a:link, span.MsoHyperlink
        {mso-style-priority:99;
        color:blue;
        text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
        {mso-style-priority:99;
        color:purple;
        text-decoration:underline;}
p
        {mso-style-priority:99;
        mso-margin-top-alt:auto;
        margin-right:0cm;
        mso-margin-bottom-alt:auto;
        margin-left:0cm;
        font-size:12.0pt;
        font-family:"Times New Roman","serif";}
p.MsoListParagraph, li.MsoListParagraph, div.MsoListParagraph
        {mso-style-priority:34;
        margin-top:0cm;
        margin-right:0cm;
        margin-bottom:0cm;
        margin-left:36.0pt;
        margin-bottom:.0001pt;
        font-size:12.0pt;
        font-family:"Times New Roman","serif";}
span.EmailStyle19
        {mso-style-type:personal-compose;
        font-family:"Arial","sans-serif";}
.MsoChpDefault
        {mso-style-type:export-only;
        font-size:10.0pt;}
@page Section1
        {size:612.0pt 792.0pt;
        margin:72.0pt 72.0pt 72.0pt 72.0pt;}
div.Section1
        {page:Section1;}
 /* List Definitions */
 @list l0
        {mso-list-id:947546671;
        mso-list-type:hybrid;
        mso-list-template-ids:1813825914 -1114586942 134807555 134807557 134807553 134807555 134807557 134807553 134807555 134807557;}
@list l0:level1
        {mso-level-start-at:0;
        mso-level-number-format:bullet;
        mso-level-text:\F06E;
        mso-level-tab-stop:none;
        mso-level-number-position:left;
        text-indent:-18.0pt;
        font-family:Wingdings;
        mso-fareast-font-family:"Times New Roman";
        mso-bidi-font-family:Arial;}
ol
        {margin-bottom:0cm;}
ul
        {margin-bottom:0cm;}
-->
</style>
<!--[if gte mso 9]><xml>
 <o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
 <o:shapelayout v:ext="edit">
  <o:idmap v:ext="edit" data="1" />
 </o:shapelayout></xml><![endif]-->
</head>

<body lang=EN-GB link=blue vlink=purple>

<div class=Section1>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Dear
All,<o:p></o:p></span></p>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Please
see below for details of the UBS Operations Team Challenge Workshop.<o:p></o:p></span></p>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>The
support of CUCBC events by UBS is a key factor in keeping entry fees low so
please support this event if you have an interest in this area.<o:p></o:p></span></p>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Many
thanks,<o:p></o:p></span></p>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Will<o:p></o:p></span></p>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>--<o:p></o:p></span></p>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Will
Richards<o:p></o:p></span></p>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>CUCBC
Web Team<o:p></o:p></span></p>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><a
href="http://www.cucbc.org">www.cucbc.org</a><o:p></o:p></span></p>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>

<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>UBS
is the leading global wealth manager, a top-tier investment banking and
securities firm and one of the largest global asset managers.</span> <o:p></o:p></p>

<div>

<p><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>As one of
the Bank’s core control and logistics functions supporting the Front
Office business, Operations handles c.500,000 transactions worldwide every day.
The aim of this business area is to continually improve the delivery of
clients’ post-trade experience through rigorous analysis and disciplined
application.</span><o:p></o:p></p>

<p><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>To gain an
insight into our Operations function, and meet the people behind it, come to
our forthcoming Operations Workshop.</span><o:p></o:p></p>

<p><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Please
register an interest on our website<span style='color:black'>.</span><span
style='color:blue'> </span></span><o:p></o:p></p>

<p><strong><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Date:</span></strong><span
style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'> </span><strong><span
style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'> </span></strong><strong><span
style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Wednesday 19th
November 2008</span></strong><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><br>
<strong><span style='font-family:"Arial","sans-serif"'>Time: 18.30</span></strong><br>
<strong><span style='font-family:"Arial","sans-serif"'>Venue: Howard Building,
Downing College<span style='color:black'>, University of Cambridge</span></span></strong></span></b><span
style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'> </span><o:p></o:p></p>

<p><strong><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>It
starts with you: </span><a href="http://www.ubs.com/graduates" target="_blank"
title="http://www.ubs.com/graduates"><span style='font-size:10.0pt;font-family:
"Arial","sans-serif";color:#336699'>www.ubs.com/graduates</span></a></strong><o:p></o:p></p>

</div>

<p class=MsoNormal><o:p> </o:p></p>

<div>

<p class=MsoNormal> <o:p></o:p></p>

</div>

<div>

<p class=MsoNormal> <o:p></o:p></p>

</div>

<p> <o:p></o:p></p>

<div>

<p class=MsoNormal> <o:p></o:p></p>

</div>

</div>

</body>

</html>