U.S. Economy Cooling, but Indicators Point to Soft Landing, Says Union Bank Senior Economist Keitaro Matsuda

  
    
  
  
    
      Union Bank of California:
    
    WHAT:          Keitaro Matsuda, senior economist for Union Bank of
               California, today released his November 2006 Economic
               Report focused on the slowing growth of the U.S.
               economy. The report, titled "A Chill Is in the Air," is
               part of a monthly series produced by Union Bank of
               California on the California, Pacific Northwest and
               U.S. economies.

WHY:           The November 2006 Economic Report discusses factors
               affecting the national economic outlook, including:

               -- The boom, slowdown, recession and recovery phases of
                  the business cycle

               -- Impact of imports and the housing sector in reducing
                  total GDP growth, despite growth in other sectors

               -- Projected dissipation of inflationary pressure

               -- Role of energy prices, the stock market, global
                  growth and wage increases in predicting a soft
                  landing

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, and middle market and
               large corporations.

AVAILABILITY:  The November 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 Katie Pandes 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 November 2006 Economic
               Report focused on the slowing growth of the U.S.
               economy. The report, titled "A Chill Is in the Air," is
               part of a monthly series produced by Union Bank of
               California on the California, Pacific Northwest and
               U.S. economies.

WHY:           The November 2006 Economic Report discusses factors
               affecting the national economic outlook, including:

               -- The boom, slowdown, recession and recovery phases of
                  the business cycle

               -- Impact of imports and the housing sector in reducing
                  total GDP growth, despite growth in other sectors

               -- Projected dissipation of inflationary pressure

               -- Role of energy prices, the stock market, global
                  growth and wage increases in predicting a soft
                  landing

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, and middle market and
               large corporations.

AVAILABILITY:  The November 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 Katie Pandes or Jessica Vitale to
               schedule an appointment.
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