San Francisco Bay Area Economy Gaining Momentum, Says Union Bank Senior Economist Keitaro Matsuda

  
    
  
  
    
      Union Bank of California:
    
    
      
        
          
            WHAT:
          
        
        
          
            Keitaro Matsuda, senior economist for Union Bank of California, 
            today released his October 2006 Economic Report focused on the San 
            Francisco Bay Area. The report highlights the acceleration of the 
            region's economy, which is especially significant because it took 
            the Bay Area longer than any other region in the state to emerge 
            from the recession earlier this decade. The report, titled "The 
            San Francisco Bay Area Finally Catches up with the Rest of the 
            State," is part of a monthly series produced by Matsuda on the 
            California, Pacific Northwest and U.S. economies.
          
        
      
      
        
           
        
      
      
        
          
            WHY:
          
        
        
          
            The October 2006 Economic Report discusses factors affecting the 
            economic outlook in the San Francisco Bay Area, including:
          
        
      
      
        
           
        
      
      
        
        
        
          -- Rapid pace of regional job growth, increasing one and a half 
          times the rate achieved in 2005
        
      
      
        
        
        
           
        
      
      
        
        
        
          -- Effect of housing boom and service industries on regional 
          employment statistics, particularly in the East Bay
        
      
      
        
        
        
           
        
      
      
        
        
        
          -- Importance of digital media, biotechnology, and alternative 
          energy as future sources of economic growth
        
      
      
        
        
        
           
        
      
      
        
          
            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 October 2006 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 Alicia 
          Romero or Jessica Vitale to schedule an appointment.
        
      
    
  
Union Bank of California:

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WHAT:         Keitaro Matsuda, senior economist for Union Bank of
               California, today released his October 2006 Economic
               Report focused on the San Francisco Bay Area. The
               report highlights the acceleration of the region's
               economy, which is especially significant because it
               took the Bay Area longer than any other region in the
               state to emerge from the recession earlier this decade.
               The report, titled "The San Francisco Bay Area Finally
               Catches up with the Rest of the State," is part of a
               monthly series produced by Matsuda on the California,
               Pacific Northwest and U.S. economies.

WHY:          The October 2006 Economic Report discusses factors
               affecting the economic outlook in the San Francisco Bay
               Area, including:

                  -- Rapid pace of regional job growth, increasing one
                   and a half times the rate achieved in 2005

                  -- Effect of housing boom and service industries on
                   regional employment statistics, particularly in the
                   East Bay

                  -- Importance of digital media, biotechnology, and
                   alternative energy as future sources of economic
                   growth

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 October 2006 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 Alicia Romero or Jessica Vitale to
               schedule an appointment.
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