RNS Number:9165N
UBS AG (EMM)
24 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             24-Jul-2003
  Contact Name                   Brenton Amedee
  Telephone number               020-7568-4981
  Please see attached disclosure of dealings under Rule 38.5 in the securities of the following companies:
  CHUBB
  DEBENHAMS
  ISOFT GROUP
  TOREX
  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            24-Jul-2003
  Date of dealing               23-Jul-2003
  Name of EMM                   UBS AG
  Name of offeree / offeror with whom connected               Adviser to United Technologies Corporation
  Total Number of securities bought                                                             4,278
  Highest price paid*                                                                          0.7575   GBP
  Lowest price paid*                                                                           0.7575   GBP
  Total Number of securities sold                                                                  63
  Highest price received*                                                                      0.4728   GBP
  Lowest price received*                                                                       0.4728   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            24-Jul-2003
  Date of dealing               23-Jul-2003
  Name of EMM                   UBS AG
  Name of offeree / offeror with whom connected               Permira
  Total Number of securities bought                                                           120,281
  Highest price paid*                                                                          4.2589   GBP
  Lowest price paid*                                                                           4.2500   GBP
  Total Number of securities sold                                                              56,700
  Highest price received*                                                                      4.2575   GBP
  Lowest price received*                                                                       4.2500   GBP
                                                                                                                        
            FORM 38.5
                                    CONNECTED EXEMPT MARKET-MAKERS:
        DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
  Dealing in                    ISOFT GROUP
  Class  of  securities         ORD GBP0.10

  Date of disclosure            24-Jul-2003
  Date of dealing               23-Jul-2003
  Name of EMM                   UBS AG
  Name of offeree / offeror with whom connected                Torex Group Plc
  Total Number of securities bought                                                           404,100
  Highest price paid*                                                                          3.2000   GBP
  Lowest price paid*                                                                           3.2000   GBP
  Total Number of securities sold                                                             494,000
  Highest price received*                                                                      3.2000   GBP
  Lowest price received*                                                                       3.1300   GBP
                                                                                                                        
            FORM 38.5
                                    CONNECTED EXEMPT MARKET-MAKERS:
        DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
  Dealing in                    TOREX
  Class  of  securities         ORD GBP0.10

  Date of disclosure            24-Jul-2003
  Date of dealing               23-Jul-2003
  Name of EMM                   UBS AG
  Name of offeree / offeror with whom connected                Torex Group Plc
  Total Number of securities bought                                                            72,000
  Highest price paid*                                                                          5.6000   GBP
  Lowest price paid*                                                                           5.5165   GBP
  Total Number of securities sold                                                             104,000
  Highest price received*                                                                      5.6400   GBP
  Lowest price received*                                                                       5.6000   GBP
  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            24-Jul-2003
  Contact Name                  Brenton Amedee
  Telephone number              020-7568-4981
  Please see attached disclosure of dealings under Rule 38.5 in the securities of the following companies:
  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.
                                      2
                                                                                                                        
            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            24-Jul-2003
  Date of dealing               23-Jul-2003
  Name of EMM                   UBS AG
  Name of offeree / offeror with whom connected                Cordiant Communications Group Plc
  Total Number of securities bought                                                           266,529
  Highest price paid*                                                                          5.1975   GBP
  Lowest price paid*                                                                           5.1525   GBP
  Total Number of securities sold                                                             262,236
  Highest price received*                                                                      5.2375   GBP
  Lowest price received*                                                                       3.2380   GBP


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