Union Bank Senior Economist Keitaro Matsuda Releases Economic Report on the Impact of the Leadership Transition at the Federal Reserve

Union Bank of California:

"Maestro's Finale" Reviews the Career of Alan Greenspan
as New Fed Chairman Ben Bernanke Takes the Helm

WHAT: Keitaro Matsuda, senior economist for Union Bank of
California, released today his February 2006 Economic
Report on the United States. The report discusses the
significant leadership transition taking place this
month at the Federal Reserve as Alan Greenspan retires
and new Fed Chairman Ben Bernanke steps in. The report,
titled "The Maestro's Finale," is part of a monthly
series produced by Matsuda on the California, Pacific
Northwest and U.S. economies.

WHY: The February Union Bank of California Economic Report
discusses the following topics related to the United
States Federal Reserve System and its leadership:

-- A review of Alan Greenspan's illustrious 18-year
career as Fed Chairman
-- The Fed Funds rate in relation to the core inflation
rate
-- The economic challenges facing new Fed Chairman Ben
Bernanke
-- Interest rate forecast in light of current economic
factors

WHO: Keitaro Matsuda has managed the economic research
department of Union Bank of California since 1997. As
the bank's senior economist, Matsuda advises bank
management, employees and clients on issues related to
the bank's West Coast markets. He 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 February 2006 Economic Report is now available upon
request.

INTERVIEW: Keitaro Matsuda is available for interviews to share his
insights about local, state and national economies.
Please contact Katie Pandes or Angela Fernandez to
schedule an appointment.