UB Unionbancal Corp

Union Bank of California (NYSE:UB): WHAT: Keitaro Matsuda, senior economist for Union Bank of California, today released his December 2006 Economic Report focused on the California economy. The report titled, "California's Two Growth Engines -- One Stalls, the Other Keeps Going," is part of a monthly series produced by Union Bank of California on the California, Pacific Northwest and U.S. economies. WHY: The December 2006 Economic Report discusses factors affecting California's economic outlook, including: -- A historically low state unemployment rate -- The continued growth of service-sector jobs -- An overall decline in construction jobs -- Increased activity in industrial and multi-family construction 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, middle market and large corporations. AVAILABILITY: The December 2006 Economic Report is available upon request. INTERVIEW: Keitaro Matsuda is available for interviews to share his insights about local, state and national economies, as well as year-end overviews and 2007 projections. Please contact Katie Pandes or Jessica Vitale to schedule an appointment.