CAP Clean Air

RNS Number:6191H
UBS AG (EMM)
20 January 2005

                                                                 FORM 38.5 (CFD)



                        CONNECTED EXEMPT MARKET-MAKERS:

      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS







Dealing in Contract for Difference

 ("CFD") referenced to ..................CAPITAL RADIO



Date of disclosure

                                ............20 JANUARY
2005...................................................................................



Date of dealing

                                ........ 19 JANUARY
2005.............................................



Name of EMM            UBS AG


........................................................................................................................
................



Name of offeree / offeror with whom connected           ........GWR
GROUP................






PRODUCT             BUY/SELL            PRICE              MATURITY            SHARE REFERENCE
                                                                               QUANTITY
SHORT CFD           WRITING             4.35               19/10/2005          22,800
SHORT CFD           WRITING             4.35               19/10/2005          27,200












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