CAP Clean Air

RNS Number:1686G
UBS AG (EMM)
08 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

                                ............08 DECEMBER
2004...................................................................................



Date of dealing

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



Name of EMM            UBS AG


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



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






PRODUCT            BUY/SELL           PRICE              MATURITY            SHARE REFERENCE
                                                                             QUANTITY
LONG CFD           WRITING            4.033806           07/09/2005          2,500
LONG CFD           W|RITING           4.033806           07/09/2005          22,500












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