Union Bank of California: 

WHAT:         Keitaro Matsuda, senior economist for Union Bank of
              California, today released his August 2007 Economic
              Report focusing on California and its regional
              economies. The report, titled "Economic Data Show the
              Silicon Valley's Recovery Is Real," is part of a
              monthly series produced by Matsuda on the California,
              Pacific Northwest and United States economies.

WHY:          The August 2007 report discusses economic factors at
              play in California's Silicon Valley, including:

                  -- A tight labor market, with an unemployment rate
                     lower than the state.
                  -- Strong employment growth in the technology
                     sector.
                  -- Global demand for technology products and
                     favorable outlook for global economy.
                  -- Regional adjustments in the housing market.

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 August 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
Joanne Curran, 213-236-5017
joanne.curran@uboc.com