RNS Number:0575G
UBS AG (EMM)
06 December 2004

                                                                 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

                                ............03 DECEMBER
2004...................................................................................



Date of dealing

                                ........02 DECEMBER
2004.............................................



Name of EMM            UBS AG


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



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








PRODUCT              BUY/SELL             QUANTITY             MATURITY DATE         PRICE (GBP)
LONG CFD             WRITING              2,969                02/09/2005            4.02
LONG CFD             WRITING              26,719               02/09/2005            4.02
















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