UB Unionbancal Corp

Union Bank of California: WHAT: Keitaro Matsuda, senior economist for Union Bank of California, today released his January 2007 Economic Report focused on the Pacific Northwest economy. The report titled, "The Pacific Northwest: Growing, Growing . . . Slowing?" is part of a monthly series produced by Union Bank of California on the California, Pacific Northwest and U.S. economies. WHY: The January 2007 Economic Report discusses factors affecting Oregon's and Washington's economic outlook, including: -- Diminished momentum in employment growth and a slight rise in unemployment -- Continued strength in construction and housing markets, but prospect of slowing with the foreseen end to housing boom -- Job growth in information systems, aerospace, manufacturing and service sectors -- Accelerating global economy 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 January 2007 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 Nicole Smith to schedule an appointment.