Case Study

[James O'Gara] [printed: June 26, 2007 6:57 PM] [saved: June 26, 2007 6:54 PM] S:\O'Gara\Case Study.doc

James O’Gara—Termination of Analyst Career On June 26, 2007, UBS acted as Exclusive Contributor on the termination of employment for James O’Gara, Analyst Class of 2005 Career Highlights

Transaction Highlights

♦ Breaking up with his girlfriend over Project Washington

♦ Progressive check-out since April 30 announcement of transaction

♦ Repeatedly wanting to bludgeon himself to death during Project Concord / Duke

♦ Famous last words: “If anyone is looking for me, tell them to f*ck off”

♦ Record-setting numbers of failed M&A transactions: – Impressive three (3) failed attempts to close Project Washington / Project Columbia – Project Sepia – the pain that knew no end

♦ Represents the fifth transaction that UBS has acted as Exclusive Contributor to in this analyst year

♦ Managing to eat the same meal on 720 out of the 730 days (98.6% success rate) ♦ Putting up with the “perfect storm” of Kristin Kusmierz, Pete Francis and Timothee De Mierry as cubemates ♦ Significant change in demeanor since August 2005 – “Really psyched” to “I just don’t care” – “Go-getter” to “gone” ♦ Inspiring a new generation of analysts with unprecedented level of bitterness and sarcasm

UBS Role ♦ UBS proudly acted as Exclusive Contributor to this transaction

Exclusive Contributor

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