UnionBanCal Corporation (NYSE:UB) announced today that it will pay a regular cash dividend of 52 cents per common share for the third quarter of 2007. The dividend will be paid on October 5, 2007, to shareholders of record as of September 7, 2007. UnionBanCal has approximately 138 million shares of common stock outstanding.

UnionBanCal Corporation also announced today that its Board of Directors has authorized the repurchase of an additional $500 million of the Company's common stock. When combined with the $62 million remaining on its previous repurchase authorization, the Company has $562 million in repurchase authority currently.

Based in San Francisco, UnionBanCal Corporation is a bank holding company with assets of $53 billion at June 30, 2007. Its primary subsidiary, Union Bank of California, N.A., had 327 banking offices in California, Oregon and Washington and 2 international offices at June 30, 2007.

UnionBanCal Corporation
John A. Rice, Jr., 415-765-2998 (Investor Relations)
Stephen L. Johnson, 415-765-3252 (Public Relations)
Michelle R. Crandall, 415-765-2780 (Investor Relations)