CAP Clean Air

RNS Number:1039G
UBS AG (EMM)
07 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

                                ............07 DECEMBER
2004...................................................................................



Date of dealing

                                ........06 DECEMBER
2004.............................................



Name of EMM                                UBS AG


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



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






PRODUCT             BUY/SELL           PRICE              MATURITY            SHARE REFERENCE
                                                                              QUANTITY
SHORT CFD           CLOSING            4.045              30/08/2005          1,000
SHORT CFD           CLOSING            4.045              30/08/2005          9,000
SHORT CFD           CLOSING            4.045              02/09/2005          2,969
SHORT CFD           CLOSING            4.045              02/09/2005          26,719
SHORT CFD           CLOSING            4.045              03/09/2005          2,031
SHORT CFD           CLOSING            4.045              03/09/2005          18,281
LONG CFD            WRITING            4.029857           06/09/2005          5,000
LONG CFD            W|RITING           4.029857           06/09/2005          45,000












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