UB Unionbancal Corp

Union Bank of California: WHAT: Keitaro Matsuda, senior economist for Union Bank of California, today released his November 2006 Economic Report focused on the slowing growth of the U.S. economy. The report, titled "A Chill Is in the Air," is part of a monthly series produced by Union Bank of California on the California, Pacific Northwest and U.S. economies. WHY: The November 2006 Economic Report discusses factors affecting the national economic outlook, including: -- The boom, slowdown, recession and recovery phases of the business cycle -- Impact of imports and the housing sector in reducing total GDP growth, despite growth in other sectors -- Projected dissipation of inflationary pressure -- Role of energy prices, the stock market, global growth and wage increases in predicting a soft landing WHO: Keitaro Matsuda has served as senior economist for Union Bank of California since 1997. He monitors economic trends and developments for Union Bank management and customers. Mr. Matsuda is also a member of the economic advisory committee of the American Bankers Association. Union Bank of California, the wholly owned subsidiary of UnionBanCal Corporation (NYSE:UB), provides a broad range of financial services to consumers, small businesses, and middle market and large corporations. AVAILABILITY: The November 2006 Economic Report is available upon request. INTERVIEW: Keitaro Matsuda is available for interviews to share his insights about local, state and national economies. Please contact Katie Pandes or Jessica Vitale to schedule an appointment. Union Bank of California: -0- *T WHAT: Keitaro Matsuda, senior economist for Union Bank of California, today released his November 2006 Economic Report focused on the slowing growth of the U.S. economy. The report, titled "A Chill Is in the Air," is part of a monthly series produced by Union Bank of California on the California, Pacific Northwest and U.S. economies. WHY: The November 2006 Economic Report discusses factors affecting the national economic outlook, including: -- The boom, slowdown, recession and recovery phases of the business cycle -- Impact of imports and the housing sector in reducing total GDP growth, despite growth in other sectors -- Projected dissipation of inflationary pressure -- Role of energy prices, the stock market, global growth and wage increases in predicting a soft landing WHO: Keitaro Matsuda has served as senior economist for Union Bank of California since 1997. He monitors economic trends and developments for Union Bank management and customers. Mr. Matsuda is also a member of the economic advisory committee of the American Bankers Association. Union Bank of California, the wholly owned subsidiary of UnionBanCal Corporation (NYSE:UB), provides a broad range of financial services to consumers, small businesses, and middle market and large corporations. AVAILABILITY: The November 2006 Economic Report is available upon request. INTERVIEW: Keitaro Matsuda is available for interviews to share his insights about local, state and national economies. Please contact Katie Pandes or Jessica Vitale to schedule an appointment. *T