Union Bank of California: 

WHAT:   Keitaro Matsuda, senior economist for Union Bank of
        California, today released his June 2007 Economic Report
        focusing on the California economy. The report, titled "Jobs
        in California: Why the Statewide Statistics May Not Tell the
        Whole Story," is part of a monthly series produced by Matsuda
        on the California, Pacific Northwest and U.S. economies.

WHY:    The June 2007 report discusses economic factors at play in
        California and various regions in the state, including:

            -- Slowing statewide growth in payroll employment and
               growing unemployment

            -- Strength in service and government sectors, but
               deceleration in construction and financial industries

            -- Tech-sector recovery in San Francisco Bay Area,
               contrasted with slowdowns in the Los Angeles Basin and
               San Diego County

            -- Loss of momentum in the Central Valley, particularly in
               the northern counties

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. 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 June 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 to schedule an appointment.

Union Bank of California
Katie Pandes, 415-765-2617
katie.pandes@uboc.com
Sharon Woodson-Bryant, 213-236-4145
sharonw.bryant@uboc.com