First Half of 2010 / Union Bancaire Privée Records Net Earnings of More Than CHF 100 Million and Deploys its Resources in Asset Management and Private Banking

GENEVA, July 27, 2010 -

    - Union Bancaire Privée (UBP) has announced net earnings of CHF
      103.3 million (USD 95.6 million) at the end of the first half of 2010,
      in line with expectations.



    - UBP attracted CHF 3.4 billion (USD 3.1 billion) in capital inflows in
      the first half of 2010 and has seen its total assets under management
      stabilise at CHF 71.9 billion (USD 66.5 billion) as at 30 June 2010.

    - Due to its conservative risk and balance sheet management, UBP
      continues to enjoy solid financial foundations, with a Tier 1 capital
      ratio of 26.6%.

    - With the appointment of a Managing Director to head its Private Banking
      division and the strengthening of its sales, asset management and
      marketing teams, UBP is pressing ahead with the restructuring of its
      business activities in its two largest growth centres: private and
      institutional asset management, strongly oriented towards the emerging
      markets.

"It is our determination and our flexibility which allow us to
rise to today's challenges and to maintain our profit margins at a time when
the markets are still volatile," said Guy de Picciotto, UBP's CEO. "In the
first half of this year, we have concentrated our efforts on the quest for
performance, preserving our clients' capital and expanding our product range.
At the same time, we have made significant investments to reinforce our
business activity in the two principal areas of our development - Private
Banking and Asset Management - and we have grown our emerging-market
expertise."

Profitability maintained

At a time when the markets are highly volatile, interest rates
are low and exchange-rate effects are negative, UBP has returned a
consolidated net profit of CHF 103.3 million (USD 95.6 million) in the first
half of 2010. Despite the tough banking environment, UBP continues to attract
new clients with a significant proportion coming from emerging markets, with
capital inflows of CHF 3.4 billion (USD 3.1 billion) in the first half of
2010. Assets under management stabilised at CHF 71.9 billion (USD 66.6
billion) as at 30 June 2010, compared to CHF 75 billion (USD 72 billion) at
the end of 2009. Alternative assets have stabilised at CHF 17 billion (USD 16
billion), compared to CHF 19.5 billion (USD 18.8 billion) for the 2009
financial year.

Income totalled CHF 384.4 million (USD 355.9 million) for this
half of the year, compared to CHF 418.8 million (USD 387.7 million) for the
same period in 2009. The Bank has kept its overheads under control, reducing
its operating expenses by more than 2% to CHF 246.4 million (USD 228.1
million), compared to CHF 251.9 million for the first half of 2009 (USD 233.2
million). The consolidated cost/income ratio for the Group was 69% after
depreciation.

Solid financial foundations

The balance sheet totalled CHF 18.4 billion (USD 17 billion)
and the annualised return on equity was 12% for the first half of the year.
The balance sheet remains stable and is marked out by its very high level of
liquidity. Continued conservative risk-management is allowing UBP to maintain
its solid financial foundations, producing a strong and debt-free balance
sheet. UBP has a Tier 1 capital ratio of 26.6% - well above the legal minimum
- making it one of the best-capitalised banks in Switzerland.

The global economy is undergoing a fundamental transformation
with the centre of world growth shifting towards Asia. UBP continues to
reflect this trend in the implementation of its global strategy both in terms
of its long-term commitment to clients and the strengthening of its financial
expertise. Michel Longhini's arrival as Managing Director of its Private
Banking division represents the last major appointment to UBP's Executive
Committee, following those of Richard Wohanka as CEO of Asset Management,
Eftychia (La) Fischer as Head of Treasury & Trading and Ian Cramb as Chief
Operating Officer. With this team in place, UBP is well positioned to grow
its business in this challenging but exciting environment.

About Union Bancaire Privée

Union Bancaire Privée (UBP) is based in Geneva and is one of
Switzerland's leading private banks. Active in the field of asset management
for both private and institutional clients, and with a very solid balance
sheet, the Bank had more than CHF 72 billion (USD 66.5 billion) in assets
under management as at 30 June 2010. UBP employs around 1,200 people in some
twenty locations worldwide and provides a complete range of products and
innovative investment solutions, both in traditional and alternative asset
management, with the aim of seeking out performance and attaining its
clients' objectives. www.ubpbank.com.

For any further information

Jérôme Koechlin, Head of Communications, tel.: +41(0)58-819-26-40,
e-mail: jko@ubp.ch

www.ubpbank.com

For any further information: Jérôme Koechlin, Head of Communications, tel.: +41(0)58-819-26-40,
e-mail: jko at ubp.ch