RNS Number:7075N
UBS AG (EMM)
18 July 2003



  FORM 38.5 (SUMMARY)
  Lodge with Company Announcements Office and the Panel. Use a separate form for each class of securities in which
  dealings have been made.
                                              CONNECTED EXEMPT MARKET-MAKERS:
                            DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
  Name of EMM                    UBS AG
  Date of disclosure             18-Jul-2003
  Contact Name                   Brenton Amedee
  Telephone number               0207 568 4981
  Please see attached disclosure of dealings under Rule 38.5 in the securities of the following companies:
  CHUBB
  DEBENHAMS
  VERNALIS GROUP
  WPP GROUP
  AMENDMENT
  If the attached Rule 38.5 disclosure is to amend a previous disclosure, please state which element(s) of previous
  disclosure was incorrect:
  In the case of option business or dealings in derivatives full details should be given on a separate sheet so that the
  nature of the dealings can be fully understood. For options this should include the number of securities under option,
  the exercise period (or in the case of exercise, the exercise date), the exercise price and any option money paid or
  received. For derivatives this should include, at least, the number of reference securities to which they relate (when
  relevant), the maturity date (or if applicable the closing out date) and the reference price.For full details of
  disclosure requirements see Rules 8 and 38 of the Code. If in doubt contact the Monitoring Section of the Panel, Tel 
No:
  020-7638 0129.
                                       1
                                                                                                                        
            FORM 38.5
                                   CONNECTED EXEMPT MARKET-MAKERS:
       DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
 Dealing in                    CHUBB
 Class  of  securities         ORD GBP0.36

 Date of disclosure            18-Jul-2003
 Date of dealing               17-Jul-2003
 Name of EMM                   UBS AG
 Name of offeree / offeror with whom connected              Adviser to United Technologies Corporation
 Total Number of securities bought                                                        3,000,135
 Highest price paid*                                                                         0.7592   GBP
 Lowest price paid*                                                                          0.7575   GBP
 Total Number of securities sold                                                            548,245
 Highest price received*                                                                     0.7575   GBP
 Lowest price received*                                                                      0.0000   GBP
                                                                                                                        
          FORM 38.5
                                    CONNECTED EXEMPT MARKET-MAKERS:
       DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
 Dealing in                     DEBENHAMS
 Class  of  securities          ORD GBP0.10

 Date of disclosure             18-Jul-2003
 Date of dealing                17-Jul-2003
 Name of EMM                    UBS AG
 Name of offeree / offeror with whom connected               Permira
 Total Number of securities bought                                                           238,938
 Highest price paid*                                                                          4.1850   GBP
 Lowest price paid*                                                                           4.1800   GBP
 Total Number of securities sold                                                             201,888
 Highest price received*                                                                      4.1800   GBP
 Lowest price received*                                                                       4.1800   GBP
                                                                                                                        
          FORM 38.5
                                    CONNECTED EXEMPT MARKET-MAKERS:
       DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
 Dealing in                     VERNALIS GROUP
 Class  of  securities          ORD GBP0.10

 Date of disclosure             18-Jul-2003
 Date of dealing                17-Jul-2003
 Name of EMM                    UBS AG
 Name of offeree / offeror with whom connected                Vernalis Group Plc
 Total Number of securities bought                                                             4,970
 Highest price paid*                                                                          0.5000   GBP
 Lowest price paid*                                                                           0.5000   GBP
 Total Number of securities sold                                                              12,400
 Highest price received*                                                                      0.5500   GBP
 Lowest price received*                                                                       0.5500   GBP
                                                                                                                        
            FORM 38.5
                                   CONNECTED EXEMPT MARKET-MAKERS:
       DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
 Dealing in                    WPP GROUP
 Class  of  securities         ORD GBP0.10

 Date of disclosure            18-Jul-2003
 Date of dealing               17-Jul-2003
 Name of EMM                   UBS AG
 Name of offeree / offeror with whom connected               Cordiant Communications Group Plc
 Total Number of securities bought                                                          610,705
 Highest price paid*                                                                         5.2225   GBP
 Lowest price paid*                                                                          5.0900   GBP
 Total Number of securities sold                                                            625,726
 Highest price received*                                                                     5.2325   GBP
 Lowest price received*                                                                      0.0000   GBP


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