Union Bank of California Decreases Reference Rate to 5.25 Percent

Union Bank of California, N.A., announced today (March 18) that it has lowered its reference rate to 5.25 percent from 6.00 percent. Based in San Francisco, UnionBanCal Corporation (NYSE: UB) is a bank holding company with assets of $55.7 billion at December 31, 2007. Its primary subsidiary, Union Bank of California, N.A., had 330 banking offices in California, Oregon and Washington, and 2 international offices at December 31, 2007. The company's Web site is located at www.unionbank.com.