As a silver sponsor of the America's Cup Jubilee UBS will partner the sporting highlight of the week - the UBS Jubilee Race Around the Island.

The race will be held on the 21st August and will take a clockwise course around the Isle of Wight in a re-enactment of the Royal Yacht Squadron's 100 Guinea Cup that was raced 150 years ago.

UBS, no newcomer to sponsoring leading edge yacht racing, is also partnering Team Alinghi, the Swiss America's Cup Challenge.

This team will be racing the 12-Metre "South Australia" in the 12-Metre Class, it will be skippered by Russell Coutts, a two time winner of the America's Cup. UBS hope this will be a fitting warm up for its bid to help the Swiss Challenge bring back the America's Cup to Europe in 2003.

For UBS, the partnership with such an auspicious America's Cup bid and the UBS Jubilee Race Around the Island sponsorship, represent sound business opportunities and a recognition of the natural synergies that exist between sailing at this level and the world of global finance.

UBS AG Chairman, Marcel Ospel explains, "sailing of this calibre calls for perfect interplay between strategy, tactics, stamina, speed and mastery of state-of-the-art technology.

These key factors, implemented by a highly motivated team, are what carry a racing yacht to success. In global finance business, they also decide who can sail closest to the wind."