UBS GLOBAL ALLOCATION TRUST ANNOUNCES FOURTH QUARTER DISTRIBUTION

TORONTO, Dec. 20 /CNW/ - UBS Global Allocation Trust (TSX: GAT.UN), an investment trust trading on The Toronto Stock Exchange, today announced that it will make a quarterly distribution of CDN$0.125 per unit, payable on December 31, 2010 to all unitholders of record as of December 31, 2010. It is in accordance with the annual 5% stated distribution as indicated in the prospectus dated February 26, 2004.

The investment strategies of UBS Global Allocation Trust are: (i) active global asset allocation across seven asset classes of global stocks and bonds; (ii) active security selection, based on a price/intrinsic value methodology; and (iii) an active global currency overlay.

UBS Global Asset Management is a large scale asset manager with well diversified businesses across regions, capabilities and distribution channels. It offers investment capabilities and investment styles across all major traditional and alternative asset classes. These include equity, fixed income, currency, hedge fund, real estate and infrastructure investment capabilities that can also be combined in multi-asset strategies.

Invested assets totaled some CAD 593 billion at 30 Sept 2010. The firm is a leading fund house in Europe, the largest mutual fund manager in Switzerland¹ and the largest global hedge fund of funds manager².

With around 3,500 employees, located in 25 countries, we are a truly global firm. Our main offices are in London, Chicago, Frankfurt, Hartford, Hong Kong, New York, Paris, Sydney, Tokyo, Toronto and Zurich.

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¹ Source: Lipper FundFlows Insight Report (as at 30 September 2010)
² Source: InvestHedge Billion Dollar Club, March 2010

For further information:

UBS Global Asset Management (Canada) Inc. Unitholder Relations
1-866-827-9300
http://www.ubs.com/1/e/globalam/Americas/canada/ca_retail.html

For all media inquiries, please contact Graeme Harris at [phone]

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Please contact UBS Global Allocation Trust at [email protected]