UB Unionbancal Corp

David Benkert, a director with Navigant Consulting in Los Angeles, has been elected chairman of HighMark Funds board of trustees. Evelyn S. Dilsaver, former president and chief executive officer of Charles Schwab Investment Management, Inc., and Earle A. Malm, president and chief executive officer of HighMark Capital Management, have also been elected to the board. HighMark Funds is a nationally recognized family of mutual funds that is overseen by a seven-member board of trustees. HighMark Capital Management, the investment subsidiary of Union Bank of California, N.A., serves as investment advisor and administrator to the Funds. Benkert joined the HighMark Funds board in 2004 and most recently served as a member of the audit committee. He succeeds Joe Jaeger, who retired from the board after 20 years of service. Benkert currently serves as a director in the dispute and investigations practice at Navigant Consulting, where he specializes in litigation support and investigations. During his 26 year career, Benkert has assisted clients with damage calculations, forensic investigations, analysis of financial solvency, financial forecasting and corporate restructuring. He has worked with a wide variety of organizations, including technology companies, healthcare organizations, hospital providers and state governments. Dilsaver currently serves on the boards of Aeropostale, Inc. and Longs Drug Stores Corp., where she is a designated financial expert of the audit and finance committee. She worked for Charles Schwab Corporation from 1991 to 2004, most recently serving in the role of president and chief executive officer of Charles Schwab Investment Management. While there, she also held the position of executive vice president, chief financial officer and chief administrative officer for U.S. Trust Company, then a Schwab subsidiary. Prior to Schwab, Dilsaver held the position of senior vice president and controller for First Nationwide Bank from 1983 to 1991. Earle A. Malm joined HighMark Capital Management as president and chief executive officer in 2002. Prior to HighMark, Malm was president of NVMLI, a Nevada-based company involved in mortgage lending and investments. From 1999 to 2002, he was president and vice chairman of ValueClick, an Internet advertising and technology company. From 1990 to 1999, Malm was senior vice president of GT Capital Management and chief operating officer for the GT Global Mutual Funds. He has also held senior positions with GE and RCA. Malm serves as chairman of the board of directors for HighMark Capital Management. About HighMark HighMark Funds (www.highmarkfunds.com) is a nationally recognized family of mutual funds with 22 individual funds and over $8 billion in assets. HighMark Funds offer money market, fixed income, equity and asset allocation funds. San Francisco-based HighMark Capital Management, Inc. is a wholly owned investment management subsidiary of Union Bank of California, with over $21 billion in assets under management for individual and institutional investors worldwide. HighMark Capital Management, Inc. is the adviser and administrator for HighMark Funds. About Union Bank of California Based in San Francisco, UnionBanCal Corporation is a bank holding company with assets of $57.9 billion at March 31, 2008. Its primary subsidiary, Union Bank of California, N.A., had 334 banking offices in California, Oregon and Washington, and 2 international offices at March 31, 2008. The company's Web site is located at www.unionbank.com. Mutual fund investing involves risks, including possible loss of principal. HighMark Capital Management, Inc., a registered adviser, is a wholly owned subsidiary of Union Bank of California, N.A. and serves as investment adviser for HighMark Funds. Union Bank of California, N.A., a subsidiary of UnionBanCal Corporation, provides certain services to the funds and is compensated for these services. HighMark Funds are distributed by PFPC Distributors, Inc., which is unaffiliated with the adviser, its parents or any affiliates. Read the prospectus and carefully consider the Funds� investment objectives, risk factors and charges and expenses before investing. This and other information, including fees, expenses, and performance data, can be found in the Funds� prospectus, which may be obtained by calling 800.433.6884 or by visiting www.highmarkfunds.com.