Union Bank of California Decreases Reference Rate to 4.00 Percent

Union Bank of California, N.A., announced today that it has lowered its reference rate to 4.00 percent from 4.50 percent.

Based in San Francisco, UnionBanCal Corporation (NYSE: UB) is a bank holding company with assets of $62.6 billion at September 30, 2008. Its primary subsidiary, Union Bank of California, N.A., had 336 banking offices in California, Oregon and Washington, and 2 international offices at September 30, 2008. The company's Web site is located at www.unionbank.com.

Contacts:

Union Bank of California, N.A.
Stephen Johnson, 415-765-3252
stephen.johnson@uboc.com
Daniel Weidman, 213-236-4050
daniel.weidman@uboc.com