EMM Disclosure

RNS Number:9708N
UBS AG (EMM)
25 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             25-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
  NESTOR HEALTHCARE 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            25-Jul-2003
  Date of dealing               24-Jul-2003
  Name of EMM                   UBS AG
  Name of offeree / offeror with whom connected               Adviser to United Technologies Corporation
  Total Number of securities bought                                                         3,010,804
  Highest price paid*                                                                          0.7600   GBP
  Lowest price paid*                                                                           0.7575   GBP
  Total Number of securities sold                                                           3,000,000
  Highest price received*                                                                      0.7575   GBP
  Lowest price received*                                                                       0.7575   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            25-Jul-2003
  Date of dealing               24-Jul-2003
  Name of EMM                   UBS AG
  Name of offeree / offeror with whom connected               Permira
  Total Number of securities bought                                                            77,854
  Highest price paid*                                                                          4.3300   GBP
  Lowest price paid*                                                                           4.2600   GBP
  Total Number of securities sold                                                             311,000
  Highest price received*                                                                      4.3374   GBP
  Lowest price received*                                                                       4.3052   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            25-Jul-2003
  Date of dealing               24-Jul-2003
  Name of EMM                   UBS AG
  Name of offeree / offeror with whom connected                Torex Group Plc
  Total Number of securities bought                                                           229,913
  Highest price paid*                                                                          3.3099   GBP
  Lowest price paid*                                                                           3.2750   GBP
  Total Number of securities sold                                                             322,813
  Highest price received*                                                                      3.2750   GBP
  Lowest price received*                                                                       3.2750   GBP
                                                                                                                        
            FORM 38.5
                                    CONNECTED EXEMPT MARKET-MAKERS:
        DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
  Dealing in                    NESTOR HEALTHCARE GROUP
  Class  of  securities         ORD GBP0.10

  Date of disclosure            25-Jul-2003
  Date of dealing               24-Jul-2003
  Name of EMM                   UBS AG
  Name of offeree / offeror with whom connected                Nestor Healthcare
  Total Number of securities bought                                                           100,000
  Highest price paid*                                                                          3.4000   GBP
  Lowest price paid*                                                                           3.4000   GBP
  Total Number of securities sold                                                              70,000
  Highest price received*                                                                      3.4000   GBP
  Lowest price received*                                                                       3.4000   GBP


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