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Given an equibounded (₀)-semigroup of linear operators with generator A on a Banach space X, a functional calculus, due to L. Schwartz, is briefly sketched to explain fractional powers of A. Then the (modified) K-functional with respect to $(X,D\left({(-A)}^{\alpha }\right))$, α > 0, is characterized via the associated resolvent R(λ;A). Under the assumption that the resolvent satisfies a Nikolskii type inequality, ${\left|\right|\lambda R(\lambda ;A)f\left|\right|}_Y{\le c\phi (1/\lambda )\left|\right|f\left|\right|}_X$, for a suitable Banach space Y, an Ulyanov inequality is derived. This will be of interest if one has good control...