Borrowing by using collateral that may fluctuate in value, such as equities, entails risk that the collateral may decline in price and become inadequate to maintain a UBS PaineWebber Credit Line loan. If adequate collateral is not maintained, UBS PaineWebber will ask for additional collateral or the immediate payment of some or all of the loan. The SIPC asset protection limits apply to all accounts that you hold in a particular capacity. UBS PaineWebber has also purchased excess SIPC protection from Travelers Casualty and Surety Company of America. The SIPC protection and excess SIPC protection do not apply to these assets even if they otherwise appear on your monthly UBS PaineWebber statements.
More detailed information is available upon request.
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