Union Bank of California Appoints Grant Ahearn and Michael Stedman to Bankwide Policy-Making Body

UnionBanCal Corporation (NYSE:UB), and its primary subsidiary Union Bank of California, N.A., today announced the appointment of Executive Vice Presidents Grant Ahearn and Michael Stedman to the bank’s executive management committee, which serves as the bank’s primary policy-making body. The committee consists of 15 bank executives appointed by the company’s President and Chief Executive Officer Masaaki Tanaka. Ahearn manages Union Bank’s recently formed specialized financial services group, which includes energy capital services, equipment leasing, national banking and capital markets. He has served as an executive vice president since 2001. Stedman was appointed executive vice president of the bank’s real estate industries group in 2006 and oversees all commercial real estate lending and relationship management. "The appointment of these two senior officers to Union Bank’s executive management committee reflects the critical importance of our wholesale banking operations to the success of this company,” said President and Chief Executive Officer Masaaki Tanaka. Ahearn joined the bank in 1987 as an assistant vice president in the project finance division and held various positions of increasing responsibility before joining the energy capital division as senior vice president in 1998. He became executive vice president in 2001. Prior to Union Bank, Ahearn spent seven years as a finance manager for Getty Oil Company in Los Angeles. Stedman joined Union Bank in 1992 and has held a variety of positions with the company’s real estate industries group, including senior vice president in charge of the San Francisco Bay Area. In 2003, he transferred to credit management as real estate senior credit officer. In that role, he was responsible for real estate credit policies, underwriting guidelines and approval processes. Prior to joining Union Bank, Stedman worked with Shea Homes and the Marcus & Millichap Company. Based in San Francisco, UnionBanCal Corporation (NYSE: UB) is a bank holding company with assets of $54.3 billion at September 30, 2007. Its primary subsidiary, Union Bank of California, N.A., had 323 banking offices in California, Oregon and Washington, and 2 international offices at September 30, 2007. The company's Web site is located at www.unionbank.com.