Pacific Northwest Economy Still Has Momentum, but Growth is Slowing, Says Union Bank Economist

  
    
  
  
    
      Union Bank of California: 
    
    WHAT:         Keitaro Matsuda, senior economist for Union Bank of
              California, today released his January 2007 Economic
              Report focused on the Pacific Northwest economy. The
              report titled, "The Pacific Northwest: Growing, Growing
              . . . Slowing?" is part of a monthly series produced by
              Union Bank of California on the California, Pacific
              Northwest and U.S. economies.

WHY:          The January 2007 Economic Report discusses factors
              affecting Oregon's and Washington's economic outlook,
              including:

              -- Diminished momentum in employment growth and a slight
                 rise in unemployment

              -- Continued strength in construction and housing
                 markets, but prospect of slowing with the foreseen
                 end to housing boom

              -- Job growth in information systems, aerospace,
                 manufacturing and service sectors

              -- Accelerating global economy

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. Mr. 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 January 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 or Nicole Smith to schedule
              an appointment.