Union Bank Announces Limited Acceptance of Registered Warrants Issued by the State of California

Business Wire, July 02, 2009

SAN FRANCISCO -- Union Bank, N.A., today announced that, effective immediately, it will begin accepting registered warrants (or “IOUs”) issued to its retail, wealth, business, and government customers by the State of California. The bank will discontinue accepting registered warrants no later than July 10, 2009.

Union Bank believes accepting these registered warrants will help customers who depend on state payments, particularly those in our communities who are most at risk. Union Bank is stepping forward to do its part to help the state through its budget crisis, and it urges California’s government to swiftly resolve its budgetary issues.

Union Bank reserves the right to stop accepting, and to revoke the acceptance of, registered warrants at any time; to establish limits from time to time on the dollar volume of registered warrants accepted; and to establish procedures and other limitations of acceptance, including any delays in funds availability and circumstances when registered warrants may be charged back to a customer’s account.

Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $68.7 billion at March 31, 2009. UnionBanCal Corporation is the 16th largest commercial bank holding company in the U.S. based on assets at March 31, 2009. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. Union Bank is California’s fifth-largest bank by deposits. The bank has 335 banking offices in California, Oregon, and Washington and two international offices. UnionBanCal Corporation is a wholly owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. (NYSE: MTU). Visit www.unionbank.com for more information.