Louise,

There seems to be some confusion over this, but I would like to proceed as follows. Please let me know if you disagree:

1) For all contracts, "UBS AG, London branch" will be used (online/offline, license applications, regulatory approvals, etc.)
2) For all marketing purposes, UBS Warburg Energy, LLC will be used (letterhead, brochures, etc.)
3) When using UBS Warburg Energy, LLC, we will include small print along the lines of:"UBS Warburg Energy LLC is a wholly owned subsidiary of UBS AG, London branch" (I am confirming the wording and concept with legal).

Thanks,

Dave