On August 19, 2009, the Internal Revenue Service (IRS) and the U.S.
Department of Justice announced a settlement agreement with UBS regarding certain
accounts held at the bank by U.S. persons. The offshore voluntary
disclosure program announced in March 2009 is scheduled to expire on
September 23, 2009. IRS Commissioner Doug Shulman has stated there is no
"present intent" to extend this deadline.
