Union Bank of California (NYSE:UB): 

WHAT:          Keitaro Matsuda, senior economist for Union Bank of
               California, today released his May 2007 Economic Report
               focusing on the United States economy. The report,
               titled "Diverging Regional Economies: Another Dilemma
               for the Fed," is part of a monthly series produced by
               Matsuda on the California, Pacific Northwest and U.S.
               economies.

WHY:           The May 2007 Economic Report discusses factors at play
               in the United States economy, including:

                  -- Robust consumer spending and tight labor market,
                     which limit the prospect of a recession
                  -- Accelerating price inflation versus slowing
                     output growth
                  -- Regional variations in personal income growth
                  -- Subprime mortgage delinquency ratios

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 May 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.