UnionBanCal Corporation (the Company or UB) today reported a second quarter 2009 net loss of $80 million. Loss from continuing operations for second quarter 2009 was also $80 million, compared with income from continuing operations of $134 million a year earlier, and loss from continuing operations of $10 million in first quarter 2009. Second quarter 2009 loss from continuing operations included after-tax net expenses of $13 million due to the privatization transaction and a one-time FDIC assessment of $21 million (after-tax). First quarter 2009 loss from continuing operations included after-tax net expenses of $21 million due to the privatization transaction. Mitsubishi UFJ Financial Group, Inc. (MUFG), through its wholly-owned subsidiary, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), completed its acquisition of all of the outstanding shares of the Company’s common stock (the “privatization transaction”), on November 4, 2008.

For first half 2009, net loss from continuing operations was $90 million, compared with net income from continuing operations of $257 million for first half 2008. First half 2009 net loss from continuing operations included after-tax net expenses of $34 million due to the privatization transaction and a one-time FDIC assessment of $21 million (after-tax).

For second quarter 2009, total revenue (taxable-equivalent net interest income plus noninterest income) was $736 million, up 3 percent compared with second quarter 2008. Net interest income increased 8 percent and noninterest income decreased 8 percent. Second quarter 2009 net interest income included $27.5 million of accretion related to fair value adjustments due to the privatization transaction. Average total loans increased $4.1 billion, or 9 percent, average interest bearing deposits increased $10.1 billion, or 33 percent, and average noninterest bearing deposits increased $1.0 billion, or 8 percent. The strong growth in total deposits reflects successful deposit-gathering marketing initiatives in both the retail and commercial lines of business, as well as significant increases in money market account deposits from government agencies and institutional escrow clients. The net interest margin in second quarter 2009 was 3.41 percent, a decrease of 33 basis points compared with second quarter 2008, primarily due to lower yields on earning assets and higher volumes of interest-bearing deposits.

Average noninterest bearing deposits represented 25.6 percent of average total deposits in second quarter 2009. The annualized average all-in cost of funds was 0.88 percent, compared with 1.56 percent in second quarter 2008. The Company’s average core deposit-to-loan ratio was 96.4 percent in second quarter 2009.

Compared with first quarter 2009, total revenue was flat, with net interest income down 2 percent and noninterest income up 5 percent. Average total loans decreased $0.2 billion, or 0.5 percent, average interest bearing deposits increased $6.4 billion, or 19 percent, and average noninterest bearing deposits increased $1.4 billion, or 11 percent. The net interest margin decreased 38 basis points compared with first quarter 2009.

For second quarter 2009, noninterest income was $183 million, down $16 million, or 8 percent, from the same quarter a year ago, primarily due to lower service charges on deposit accounts, lower trust and investment management fees and a $7.1 million pre-tax gain on the redemption of MasterCard Inc. common stock recorded in second quarter 2008. These decreases were partially offset by higher merchant banking fees. Noninterest income increased $8 million, or 5 percent, compared with first quarter 2009. The increase was primarily due to higher merchant banking fees.

Noninterest expense for second quarter 2009 was $532 million, an increase of $113 million, or 27 percent, compared with second quarter 2008. The increase was primarily due to expenses related to the privatization transaction of $49 million, primarily classified in privatization-related expense and intangible asset amortization expense; an increase in regulatory agencies expense of $48 million, primarily due to a one-time FDIC assessment of $34 million, recorded June 30, 2009, and an industry-wide increase in the FDIC assessment rate, effective January 1, 2009; and an increase in the provision for losses on off-balance sheet commitments of $15 million. Salaries and other compensation expense decreased $13 million compared with second quarter 2008, primarily due to lower accruals for performance-related incentive expense.

Noninterest expense for second quarter 2009 increased $11 million, or 2 percent, compared with first quarter 2009. Regulatory agencies expense increased $35 million, primarily due to a one-time FDIC assessment of $34 million, recorded June 30, 2009. Expenses associated with the privatization transaction, primarily classified in privatization-related expense and intangible asset amortization expense, decreased $20 million. Salaries and employee benefits expense decreased $11 million, or 4 percent, primarily due to annual seasonal factors that result in lower payroll taxes and 401(k) matching contributions. The provision for off-balance sheet losses decreased $11 million, compared with first quarter 2009.

For first half 2009, net loss was $90 million. Net loss from continuing operations was also $90 million, compared with net income from continuing operations of $257 million for first half 2008. The decline in income from continuing operations was primarily due to a $470 million increase in total provision for credit losses ($285 million after-tax), after-tax net expenses of $34 million related to the privatization transaction and a one-time FDIC assessment of $21 million (after-tax).

Total revenue for first half 2009 was $1.5 billion, an increase of $103 million, or 7.5 percent, over first half 2008. Net interest income increased $140 million, or 14 percent, and noninterest income decreased $37 million, or 9 percent. First half 2009 net interest income included $62.4 million of accretion related to fair value adjustments due to the privatization transaction. Noninterest expense increased $231 million, or 28.1 percent, primarily due to $119 million in expense related to the privatization transaction, classified in privatization-related expense and intangible asset amortization expense. In addition, regulatory agencies expense increased $63 million, primarily due to a one-time FDIC assessment of $34 million, recorded June 30, 2009, and an industry-wide increase in the FDIC assessment rate, effective January 1, 2009.

At June 30, 2009, the Company had total assets of $74 billion, up $13.4 billion, or 22 percent, compared with June 30, 2008. Total loans were $48.9 billion, up $2.9 billion, or 6 percent, compared with June 30, 2008. At June 30, 2009, the Company had goodwill and intangibles of $3.0 billion, up $2.7 billion compared with June 30, 2008, due to the privatization transaction, which closed during fourth quarter 2008.

At June 30, 2009, the Company had total liabilities of $66.6 billion, up $10.7 billion, or 19 percent, compared with June 30, 2008. Total deposits were $58.3 billion, up $15.7 billion, or 37 percent. Core deposits at period-end were $51.7 billion, resulting in a core deposit-to-loan ratio of 106 percent.

Nonperforming assets at June 30, 2009, were $1.1 billion, or 1.55 percent of total assets. This compares with $835 million, or 1.21 percent of total assets, at March 31, 2009, and $225 million, or 0.37 percent of total assets, at June 30, 2008. The increase in nonperforming assets compared with second quarter 2008 was primarily due to higher levels of nonaccrual loans in all categories, reflecting weak economic conditions, and a previously-disclosed change in accounting policy for residential and home equity loans 90 days or more past due, which accounted for $159 million of the increase. The increase in nonperforming assets compared with March 31, 2009, was primarily due to higher levels of nonaccrual loans in the construction and commercial mortgage categories, reflecting weak income property market conditions.

For second quarter 2009, the total provision for credit losses was $375 million and net loans charged-off were $151 million, or 1.23 percent of average total loans annualized. For first quarter 2009, the total provision for credit losses was $275 million and net loans charged-off were $116 million, or 0.95 percent of average total loans annualized. For second quarter 2008, the total provision for credit losses was $100 million and net loans charged-off were $31 million, or 0.28 percent of average total loans annualized. For first half 2009, the total provision for credit losses was $650 million and net loans charged-off were $267 million, or 1.09 percent of average total loans annualized.

For first half 2009, net loans charged-off on the commercial, financial and industrial portfolio were $180 million; net loans charged-off on the construction portfolio were $24 million; net loans charged-off on the commercial mortgage portfolio were $27 million; and net loans charged-off on the consumer portfolio were $21 million. Net loans charged-off on the residential mortgage portfolio, which averaged $16 billion outstanding in first half 2009, were only $15 million.

The total provision for credit losses is comprised of the provision for loan losses and the provision for losses on off-balance sheet commitments, which is classified in noninterest expense. In second quarter 2009, the provision for loan losses was $360 million, the provision for losses on off-balance sheet commitments was $15 million, and the total provision for credit losses was $375 million.

At June 30, 2009, the allowance for credit losses as a percent of total loans and as a percent of nonaccrual loans was 2.55 percent and 113 percent, respectively.

Total stockholder’s equity was $7.4 billion at June 30, 2009, up $2.7 billion compared with June 30, 2008, primarily due to a $2 billion increase in goodwill related to the privatization transaction, and a $1 billion capital contribution from BTMU in fourth quarter 2008. The Company’s tangible common equity ratio was 6.56 percent at June 30, 2009. The Company’s Tier I and total risk-based capital ratios at June 30, 2009, were 8.68 percent and 11.54 percent, respectively. The Tier 1 common ratio at June 30, 2009, was 8.66 percent.

The Company maintains diverse sources of wholesale funding capacity and a relatively stable core deposit base, which has resulted in healthy liquidity. Wholesale funding declined to $4.4 billion at June 30, 2009, compared to $12.6 billion at March 31, 2009, primarily due to a $9.4 billion increase in period-end deposits. The Company also maintains significant sources of contingent liquidity through the Federal Home Loan Bank and Federal Reserve Bank.

This press release contains certain references to financial measures identified as excluding privatization transaction expenses, which are adjustments from comparable measures calculated and presented in accordance with accounting principles generally accepted in the United States of America (GAAP). These financial measures, as used herein, differ from financial measures reported under GAAP in that they exclude unusual or non-recurring charges, losses, credits or gains. This press release identifies the specific items excluded from the comparable GAAP financial measure in the calculation of each non-GAAP financial measure. Because these items are unusual and substantial costs incurred in the first and second quarters of 2009, management believes that financial presentations excluding the impact of these items provide useful supplemental information which is important to a proper understanding of the Company’s core business results. These presentations should not be viewed as a substitute for results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP financial measures presented by other companies.

The following appears in accordance with the Private Securities Litigation Reform Act. This press release includes forward-looking statements that involve risks and uncertainties.

Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. Often, they include the words “believe,” ”continue,” “expect,” “target,” “anticipate,” “intend,” “plan,” “estimate,” “potential,” “project,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” They may also consist of annualized amounts based on historical interim period results. Forward-looking statements in this press release include those related to the Company’s intentions regarding and resources for funding.

There are numerous risks and uncertainties that could and will cause actual results to differ materially from those discussed in the Company’s forward-looking statements. Many of these factors are beyond the Company’s ability to control or predict and could have a material adverse effect on the Company’s financial condition, and results of operations or prospects. Such risks and uncertainties include, but are not limited to, further declines or disruptions in the financial markets which may adversely affect the Company or the Company’s borrowers or other customers; continued or worsening adverse economic conditions in the United States; continued or worsening adverse economic and fiscal conditions in California; increased energy costs; global political and general economic conditions related to the war on terrorism and other hostilities; fluctuations in interest rates; the ownership interest in UnionBanCal Corporation by BTMU, which is a wholly-owned subsidiary of MUFG; competition in the banking and financial services industries; deposit pricing pressures; the levels of commercial and residential real estate activity in our market; adverse effects of current and future banking laws, rules and regulations and their enforcement; effects of governmental fiscal or monetary policies; legal or regulatory proceedings or investigations; changes in accounting practices or requirements; and risks associated with various strategies the Company may pursue, including potential acquisitions, divestitures and restructurings. A complete description of the Company, including related risk factors, is discussed in the Company’s public filings with the Securities and Exchange Commission, which are available online at http://www.sec.gov. All forward-looking statements included in this press release are based on information available at the time of the release, and the Company assumes no obligation to update any forward-looking statement.

Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $74 billion at June 30, 2009. UnionBanCal Corporation is the 16^th largest commercial bank holding company in the U.S. based on assets at March 31, 2009. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. Union Bank is California’s fifth largest bank by deposits at March 31, 2009. The bank has 335 banking offices in California, Oregon, and Washington and two international offices. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. (NYSE: MTU). Visit www.unionbank.com for more information.

UnionBanCal Corporation and Subsidiaries
Financial Highlights (Unaudited)
Exhibit 1

							Percent Change to
	As of and for the Three Months Ended						June 30, 2009 from
	June 30,		March 31,		June 30,		June 30,	March 31,
(Dollars in thousands)		2008		2009⁽¹⁾		2009⁽¹⁾	2008	2009
Results of operations:
Net interest income ⁽²⁾	$	512,887	$	562,620	$	553,094	7.84%	(1.69%)
Noninterest income		199,626		174,716		183,213	(8.22%)	4.86%
Total revenue		712,513		737,336		736,307	3.34%	(0.14%)
Noninterest expense		419,312		521,383		532,058	26.89%	2.05%
Provision for loan losses		95,000		249,000		360,000	nm	44.58%
Income (loss) from continuing operations before income taxes ⁽²⁾		198,201		(33,047)		(155,751)	nm	nm
Taxable-equivalent adjustment		2,329		2,617		2,748	17.99%	5.01%
Income tax expense (benefit)		61,574		(25,856)		(78,492)	nm	nm
Income (loss) from continuing operations		134,298		(9,808)		(80,007)	nm	nm
Income from discontinued operations		7,047		-		-	(100.00%)	-
Net income (loss)	$	141,345	$	(9,808)	$	(80,007)	nm	nm


Balance sheet (end of period):
Total assets ⁽³⁾	$	60,593,921	$	68,725,270	$	73,984,788	22.10%	7.65%
Total loans		46,041,358		49,441,063		48,896,520	6.20%	(1.10%)
Nonperforming assets		224,944		834,738		1,144,602	nm	37.12%
Total deposits		42,604,419		48,878,733		58,282,770	36.80%	19.24%
Medium- and long-term debt		2,809,329		5,140,931		5,131,068	82.64%	(0.19%)
Stockholder's equity		4,708,790		7,475,472		7,429,500	57.78%	(0.61%)

Balance sheet (period average):
Total assets	$	59,269,965	$	67,072,499	$	71,495,226	20.63%	6.59%
Total loans		45,494,161		49,789,046		49,556,222	8.93%	(0.47%)
Earning assets		54,935,058		59,626,207		65,008,223	18.34%	9.03%
Total deposits		43,203,180		46,633,173		54,352,412	25.81%	16.55%
Stockholder's equity		4,616,596		7,336,212		7,303,050	58.19%	(0.45%)

Financial ratios ⁽⁴⁾:
Return on average assets ⁽⁵⁾:
From continuing operations		0.91%		(0.06%)		(0.45%)
Net income (loss)		0.96%		(0.06%)		(0.45%)
Return on average stockholder's equity ⁽⁵⁾:
From continuing operations		11.70%		(0.54%)		(4.39%)
Net income (loss)		12.31%		(0.54%)		(4.39%)
Efficiency ratio ⁽⁶⁾		56.94%		65.69%		68.28%
Net interest margin ⁽²⁾		3.74%		3.79%		3.41%
Tangible common equity ratio ⁽⁷⁾		7.22%		7.12%		6.56%
Tier 1 risk-based capital ratio ^{(3) (8)}		7.96%		8.74%		8.68%
Total risk-based capital ratio ^{(3) (8)}		10.84%		11.59%		11.54%
Leverage ratio ^{(3) (8)}		7.95%		8.46%		7.89%
Allowance for loan losses to:
Total loans		1.14%		1.76%		2.21%
Nonaccrual loans		243.59%		107.41%		98.14%
Allowances for credit losses to ⁽⁹⁾:
Total loans		1.37%		2.07%		2.55%
Nonaccrual loans		291.42%		126.10%		113.24%
Net loans charged off to average total loans ⁽⁵⁾		0.28%		0.95%		1.23%
Nonperforming assets to total loans and foreclosed assets		0.49%		1.69%		2.34%
Nonperforming assets to total assets ⁽³⁾		0.37%		1.21%		1.55%
Selected financial ratios excluding impact of privatization transaction ^{(1) (4) (15)}:
From continuing operations:
Return on average assets ⁽⁵⁾		0.91%		0.07%		(0.39%)
Return on average stockholder's equity ⁽⁵⁾		11.70%		0.91%		(5.48%)
Efficiency ratio ⁽⁶⁾		56.94%		59.08%		63.97%

Refer to Exhibit 12 for footnote explanations.

UnionBanCal Corporation and Subsidiaries
Financial Highlights (Unaudited)
Exhibit 2

							Percent Change to
	As of and for the Six Months Ended						June 30, 2009 from
	June 30,			June 30,			June 30,
(Dollars in thousands, except per share data)		2008			2009⁽¹⁾		2008
Results of operations:
Net interest income ⁽²⁾	$	975,991		$	1,115,714		14.32%
Noninterest income		395,022			357,929		(9.39%)
Total revenue		1,371,013			1,473,643		7.49%
Noninterest expense		822,518			1,053,441		28.08%
Provision for loan losses		167,000			609,000		nm
Income (loss) from continuing operations before income taxes ⁽²⁾		381,495			(188,798	)	nm
Taxable-equivalent adjustment		4,855			5,365		10.50%
Income tax expense (benefit)		119,944			(104,348	)	nm
Income (loss) from continuing operations		256,696			(89,815	)	nm
Loss from discontinued operations		(6,761	)		-		(100.00%)
Net income (loss)	$	249,935		$	(89,815	)	nm


Balance sheet (end of period):
Total assets ⁽³⁾	$	60,593,921		$	73,984,788		22.10%
Total loans		46,041,358			48,896,520		6.20%
Nonperforming assets		224,944			1,144,602		nm
Total deposits		42,604,419			58,282,770		36.80%
Medium- and long-term debt		2,809,329			5,131,068		82.64%
Stockholder's equity		4,708,790			7,429,500		57.78%

Balance sheet (period average):
Total assets	$	57,951,110		$	69,296,183		19.58%
Total loans		44,097,805			49,671,989		12.64%
Earning assets		53,561,569			62,743,021		17.14%
Total deposits		43,408,469			50,514,116		16.37%
Stockholder's equity		4,667,429			7,319,518		56.82%

Financial ratios ⁽⁴⁾:
Return on average assets ⁽⁵⁾:
From continuing operations		0.89	%		(0.26	%)
Net income		0.87	%		(0.26	%)
Return on average stockholder's equity ⁽⁵⁾:
From continuing operations		11.06	%		(2.47	%)
Net income		10.77	%		(2.47	%)
Efficiency ratio ⁽⁶⁾		57.75	%		66.98	%
Net interest margin ⁽²⁾		3.65	%		3.56	%
Tangible common equity ratio ⁽⁷⁾		7.22	%		6.56	%
Tier 1 risk-based capital ratio ^{(3) (8)}		7.96	%		8.68	%
Total risk-based capital ratio ^{(3) (8)}		10.84	%		11.54	%
Leverage ratio ^{(3) (8)}		7.95	%		7.89	%
Allowance for loan losses to:
Total loans		1.14	%		2.21	%
Nonaccrual loans		243.59	%		98.14	%
Allowances for credit losses to ⁽⁹⁾:
Total loans		1.37	%		2.55	%
Nonaccrual loans		291.42	%		113.24	%
Net loans charged off to average total loans ⁽⁵⁾		0.20	%		1.09	%
Nonperforming assets to total loans and foreclosed assets		0.49	%		2.34	%
Nonperforming assets to total assets ⁽³⁾		0.37	%		1.55	%
Selected financial ratios excluding impact of privatization transaction ^{(1) (4) (15)}:
From continuing operations:
Return on average assets ⁽⁵⁾		0.89	%		(0.17	%)
Return on average stockholder's equity ⁽⁵⁾		11.06	%		(2.28	%)
Efficiency ratio ⁽⁶⁾		57.75	%		61.54	%

Refer to Exhibit 12 for footnote explanations.

UnionBanCal Corporation and Subsidiaries
Condensed Consolidated Statements of Income (Unaudited)
(Taxable-Equivalent Basis)
Exhibit 3

			For the Three Months Ended									For the Six Months Ended
			June 30,			March 31,			June 30,			June 30,
(Amounts in thousands)				2008			2009⁽¹⁾			2009⁽¹⁾			2008			2009⁽¹⁾
Interest Income ⁽²⁾
	Loans		$	617,508		$	604,067		$	586,890		$	1,250,870		$	1,190,957
	Securities			98,338			103,281			98,754			204,383			202,035
	Interest bearing deposits in banks			228			900			3,550			356			4,450
	Federal funds sold and securities purchased under resale agreements			1,093			141			97			3,786			238
	Trading account assets			1,119			158			231			3,923			389
		Total interest income		718,286			708,547			689,522			1,463,318			1,398,069

Interest Expense
	Deposits			144,509			105,038			100,186			365,169			205,224
	Federal funds purchased and securities sold under repurchase agreements			13,057			53			19			28,772			72
	Commercial paper			8,279			1,592			954			18,071			2,546
	Medium- and long-term debt			19,692			27,529			29,415			39,149			56,944
	Trust notes			238			238			238			476			476
	Other borrowed funds			19,624			11,477			5,616			35,690			17,093
		Total interest expense		205,399			145,927			136,428			487,327			282,355

Net Interest Income ⁽²⁾				512,887			562,620			553,094			975,991			1,115,714
	Provision for loan losses			95,000			249,000			360,000			167,000			609,000
		Net interest income after provision for loan losses		417,887			313,620			193,094			808,991			506,714

Noninterest Income
	Service charges on deposit accounts			77,706			71,322			71,843			152,442			143,165
	Trust and investment management fees			43,802			33,907			34,130			87,190			68,037
	Trading account activities			16,687			22,692			16,251			27,699			38,943
	Merchant banking fees			11,085			13,832			19,924			22,878			33,756
	Brokerage commissions and fees			10,635			8,307			8,506			20,494			16,813
	Card processing fees, net			8,167			7,536			8,124			15,931			15,660
	Securities losses, net			-			-			(172	)		(2	)		(172	)
	Other			31,544			17,120			24,607			68,390			41,727
		Total noninterest income		199,626			174,716			183,213			395,022			357,929

Noninterest Expense
	Salaries and employee benefits			243,299			243,563			233,057			484,969			476,620
	Net occupancy			38,232			41,921			43,222			74,434			85,143
	Intangible asset amortization			670			40,887			40,281			1,340			81,168
	Regulatory agencies			4,897			17,938			52,836			7,506			70,774
	Outside services			20,295			18,834			22,948			37,304			41,782
	Professional services			15,931			15,938			19,489			30,528			35,427
	Equipment			15,141			15,413			16,602			30,488			32,015
	Software			14,409			15,038			14,205			29,204			29,243
	Foreclosed asset expense			83			886			3,282			172			4,168
	Provision for losses on off-balance sheet commitments			5,000			26,000			15,000			13,000			41,000
	Privatization-related expense			-			26,819			7,433			-			34,252
	Other			61,355			58,146			63,703			113,573			121,849
		Total noninterest expense		419,312			521,383			532,058			822,518			1,053,441

	Income (loss) from continuing operations before income taxes ⁽²⁾			198,201			(33,047	)		(155,751	)		381,495			(188,798	)
	Taxable-equivalent adjustment			2,329			2,617			2,748			4,855			5,365
	Income tax expense (benefit)			61,574			(25,856	)		(78,492	)		119,944			(104,348	)

Income (Loss) from Continuing Operations				134,298			(9,808	)		(80,007	)		256,696			(89,815	)

	Income (loss) from discontinued operations before income taxes			3,068			-			-			(14,517	)		-
	Income tax benefit			(3,979	)		-			-			(7,756	)		-
Income (Loss) from Discontinued Operations				7,047			-			-			(6,761	)		-
Net Income (Loss)			$	141,345		$	(9,808	)	$	(80,007	)	$	249,935		$	(89,815	)



Refer to Exhibit 12 for footnote explanations.

UnionBanCal Corporation and Subsidiaries
Consolidated Balance Sheets
Exhibit 4

		(Unaudited)						(Unaudited)
		June 30,			December 31,			June 30,
(Dollars in thousands)			2008			2008⁽¹⁾			2009⁽¹⁾
Assets
Cash and due from banks		$	1,800,313		$	1,568,578		$	1,285,780
Interest bearing deposits in banks			65,788			2,872,698			8,556,837
Federal funds sold and securities purchased under resale agreements			172,345			63,069			198,955
Total cash and cash equivalents			2,038,446			4,504,345			10,041,572
Trading account assets:
Pledged as collateral			-			6,283			51,714
Held in portfolio			1,136,416			1,210,496			853,922
Securities available for sale:
Pledged as collateral			1,079,491			54,525			-
Held in portfolio			7,396,824			8,140,013			7,403,173
Securities held to maturity (fair value: June 30, 2009, $1,112,813)			-			-			1,171,380
Loans (net of allowance for loan losses: June 30, 2008, $526,401; December 31, 2008, $737,767; June 30, 2009, $1,081,633)			45,514,957			48,847,783			47,814,887
Due from customers on acceptances			21,272			23,131			19,944
Premises and equipment, net			480,366			680,004			664,673
Intangible assets, net			5,117			713,485			641,406
Goodwill			355,287			2,369,326			2,369,326
Other assets			2,559,694			3,571,995			2,952,791
Assets of discontinued operations to be disposed or sold			6,051			4			-
Total assets		$	60,593,921		$	70,121,390		$	73,984,788

Liabilities
Noninterest bearing		$	13,440,290		$	13,566,873		$	14,926,564
Interest bearing			29,164,129			32,482,896			43,356,206
Total deposits			42,604,419			46,049,769			58,282,770
Federal funds purchased and securities sold under repurchase agreements			2,296,587			172,758			203,205
Commercial paper			1,397,159			1,164,327			548,316
Other borrowed funds			4,719,809			8,196,597			606,019
Trading account liabilities			892,240			1,034,663			690,704
Acceptances outstanding			21,272			23,131			19,944
Other liabilities			1,012,403			1,685,412			1,059,508
Medium- and long-term debt			2,809,329			4,288,488			5,131,068
Junior subordinated debt payable to subsidiary grantor trust			14,206			13,980			13,754
Liabilities of discontinued operations to be extinguished or assumed			117,707			7,960			-
Total liabilities			55,885,131			62,637,085			66,555,288



Stockholder's Equity
Preferred stock:
Authorized 5,000,000 shares; no shares issued or outstanding as of June 30, 2008, December 31, 2008 and June 30, 2009			-			-			-
Common stock, par value $1 per share:
Authorized 300,000,000 shares; issued 157,811,268 shares as of June 30, 2008, 136,330,829 shares as of December 31, 2008 and 136,330,829 shares as of June 30, 2009			157,811			136,331			136,331
Additional paid-in capital			1,182,978			3,195,023			3,195,023
Treasury stock - 19,760,597 shares as of June 30, 2008, no shares as of December 31, 2008 and June 30, 2009			(1,204,469	)		-			-
Retained earnings			5,018,601			4,964,802			4,874,987
Accumulated other comprehensive loss			(446,131	)		(811,851	)		(776,841	)
Total stockholder's equity			4,708,790			7,484,305			7,429,500
Total liabilities and stockholder's equity		$	60,593,921		$	70,121,390		$	73,984,788

	Refer to Exhibit 12 for footnote explanations.

UnionBanCal Corporation and Subsidiaries
Loans and Allowance for Credit Losses (Unaudited)
Exhibit 5

														Percent Change to
					Three Months Ended									June 30, 2009 from
					June 30,			March 31,			June 30,			June 30,	March 31,
(Dollars in millions)						2008			2009⁽¹⁾			2009 ⁽¹⁾		2008	2009

Loans (period average)
	Commercial, financial and industrial				$	16,729		$	18,498		$	17,917		7.10%	(3.14%)
	Construction					2,566			2,734			2,789		8.68%	2.00%
	Mortgage - Commercial					7,822			8,253			8,255		5.53%	0.02%
	Mortgage - Residential					14,490			15,919			16,083		11.00%	1.03%
	Consumer					2,978			3,722			3,841		28.99%	3.20%
	Lease financing					645			653			662		2.57%	1.32%

		Total loans held to maturity				45,230			49,779			49,546		9.54%	(0.47%)
		Total loans held for sale				264			10			10		(96.21%)	(0.01%)

			Total loans		$	45,494		$	49,789		$	49,556		8.93%	(0.47%)

Nonperforming Assets (period end)
	Nonaccrual loans:
		Commercial, financial and industrial			$	82		$	347		$	370		nm	6.63%
		Construction				95			218			314		nm	44.04%
		Mortgage - Commercial				39			125			265		nm	nm
		Mortgage - Residential ⁽¹⁰⁾				-			102			133		nm	30.39%
		Consumer⁽¹⁰⁾				-			18			20		nm	11.11%

				Total nonaccrual loans		216			810			1,102		nm	36.05%
	Restructured loans					2			3			10		nm	nm
	Foreclosed assets					7			22			33		nm	50.00%

				Total nonperforming assets	$	225		$	835		$	1,145		nm	37.13%
	Loans 90 days or more past due and still accruing				$	51		$	24		$	4		(92.16%)	(83.33%)
	Restructured loans that are still accruing				$	-		$	-		$	1

Analysis of Allowances for Credit Losses
	Beginning balance				$	463		$	738		$	870

	Provision for loan losses					95			249			360

	Loans charged off:
		Commercial, financial and industrial				(18	)		(96	)		(86	)
		Construction				(10	)		(2	)		(23	)
		Mortgage - Commercial				-			(4	)		(23	)
		Mortgage - Residential				(2	)		(6	)		(9	)
		Consumer				(3	)		(10	)		(12	)
			Total loans charged off			(33	)		(118	)		(153	)

	Loans recovered:
		Commercial, financial and industrial				1			1			1
		Construction				1			1			-
		Consumer				-			-			1
			Total loans recovered			2			2			2
				Net loans recovered (charged off)		(31	)		(116	)		(151	)

	Adjustment for impaired loans related to privatization					-			-			2
	Foreign translation adjustment					-			(1	)		1
	Ending balance of allowance for loan losses					527			870			1,082
	Allowance for off-balance sheet commitment losses					103			151			166
											$	-
	Allowances for credit losses				$	630		$	1,021		$	1,248

Refer to Exhibit 12 for footnote explanations.

UnionBanCal Corporation and Subsidiaries
Net Interest Income (Unaudited)
Exhibit 6

			For the Three Months Ended
				6/30/2008								6/30/2009⁽¹⁾
						Interest			Average					Interest		Average
			Average			Income/			Yield/		Average			Income/		Yield/
(Dollars in thousands)			Balance			Expense⁽²⁾			Rate⁽²⁾⁽⁵⁾		Balance			Expense⁽²⁾		Rate⁽²⁾⁽⁵⁾
Assets
Loans ⁽¹²⁾
	Commercial, financial and industrial		$	16,987,504		$	229,612		5.44	%	$	17,920,408		$	194,560	4.35	%
	Construction			2,566,207			30,794		4.83			2,788,671			20,658	2.97
	Mortgage - Residential			14,495,754			199,756		5.51			16,089,739			230,269	5.72
	Mortgage - Commercial			7,822,056			111,722		5.71			8,254,595			91,689	4.44
	Consumer			2,977,852			44,453		6.00			3,841,202			44,116	4.61
	Lease financing			644,788			1,171		0.73			661,607			5,598	3.38
		Total loans		45,494,161			617,508		5.44			49,556,222			586,890	4.74
Securities - taxable				8,293,036			97,233		4.69			8,564,355			97,738	4.56
Securities - tax-exempt				52,742			1,105		8.38			48,176			1,016	8.44
Interest bearing deposits in banks				67,553			228		1.36			5,594,318			3,550	0.25
Federal funds sold and securities purchased under resale agreements				213,292			1,093		2.06			203,529			97	0.19
Trading account assets				814,274			1,119		0.55			1,041,623			231	0.09
		Total earning assets		54,935,058			718,286		5.24			65,008,223			689,522	4.25
Allowance for loan losses				(456,191	)							(839,115	)
Cash and due from banks				1,662,638								1,285,449
Premises and equipment, net				482,950								669,993
Other assets				2,645,510								5,370,676
		Total assets	$	59,269,965							$	71,495,226
Liabilities
Deposits:
	Transaction accounts		$	15,550,970			59,513		1.54		$	29,514,913			66,549	0.90
	Savings and consumer time			3,846,404			13,918		1.46			4,328,326			13,546	1.26
	Large time			10,929,983			71,078		2.62			6,604,845			20,091	1.22
		Total interest bearing deposits		30,327,357			144,509		1.92			40,448,084			100,186	0.99
Federal funds purchased and securities sold under repurchase agreements				2,428,357			12,697		2.10			163,381			19	0.05
Net funding allocated from (to) discontinued operations ⁽¹³⁾				64,945			360		2.23			-			-	-
Commercial paper				1,487,032			8,279		2.24			569,337			954	0.67
Other borrowed funds ⁽¹⁴⁾				3,201,612			19,624		2.47			2,124,419			5,616	1.06
Medium and long-term debt				2,629,308			19,692		3.01			5,137,901			29,415	2.30
Trust notes				14,261			238		6.68			13,809			238	6.90
		Total borrowed funds		9,825,515			60,890		2.49			8,008,847			36,242	1.82
		Total interest bearing liabilities		40,152,872			205,399		2.06			48,456,931			136,428	1.13
Noninterest bearing deposits				12,875,823								13,904,328
Other liabilities				1,624,674								1,830,917
		Total liabilities		54,653,369								64,192,176
Stockholder's Equity
Common equity				4,616,596								7,303,050
		Total stockholder's equity		4,616,596								7,303,050
		Total liabilities and stockholder's equity	$	59,269,965							$	71,495,226
Reported Net Interest Income/Margin
Net interest income/margin (taxable-equivalent basis)							512,887		3.74	%					553,094	3.41	%
Less: taxable-equivalent adjustment							2,329								2,748
		Net interest income				$	510,558							$	550,346

		Average Assets and Liabilities of Discontinued Operations for Period Ended:
						June 30, 2008								June 30, 2009
		Assets				$	95,415							$	-
		Liabilities				$	160,360							$	-
		Net Liabilities				$	(64,945	)						$	-


Refer to Exhibit 12 for footnote explanations.

UnionBanCal Corporation and Subsidiaries
Net Interest Income (Unaudited)
Exhibit 7

			For the Three Months Ended
			3/31/2009 ⁽¹⁾						6/30/2009 ⁽¹⁾
					Interest		Average				Interest		Average
			Average		Income/		Yield/		Average		Income/		Yield/
(Dollars in thousands)			Balance		Expense⁽²⁾		Rate⁽²⁾⁽⁵⁾		Balance		Expense⁽²⁾		Rate⁽²⁾⁽⁵⁾
Assets
Loans: ⁽¹¹⁾
	Commercial, financial and industrial		$	18,503,965	$	193,787	4.25	%	$	17,920,408	$	194,560	4.35	%
	Construction			2,733,630		19,261	2.86			2,788,671		20,658	2.97
	Mortgage - Residential			15,923,191		234,438	5.89			16,089,739		230,269	5.72
	Mortgage - Commercial			8,253,324		102,389	4.96			8,254,595		91,689	4.44
	Consumer			3,722,252		46,539	5.07			3,841,202		44,116	4.61
	Lease financing			652,684		7,653	4.69			661,607		5,598	3.38
		Total loans		49,789,046		604,067	4.88			49,556,222		586,890	4.74
Securities - taxable				8,319,754		102,256	4.92			8,564,355		97,738	4.56
Securities - tax-exempt				50,417		1,025	8.13			48,176		1,016	8.44
Interest bearing deposits in banks ⁽¹²⁾				4,220		900	0.48			5,594,318		3,550	0.25
Federal funds sold and securities purchased under resale agreements				196,567		141	0.29			203,529		97	0.19
Trading account assets				1,266,203		158	0.05			1,041,623		231	0.09
		Total earning assets		59,626,207		708,547	4.78			65,008,223		689,522	4.25
Allowance for loan losses				(708,736)						(839,115)
Cash and due from banks ⁽¹²⁾				2,142,198						1,285,449
Premises and equipment, net				674,021						669,993
Other assets				5,338,809						5,370,676
		Total assets	$	67,072,499					$	71,495,226
Liabilities
Deposits:
	Transaction accounts		$	22,497,062		61,097	1.10		$	29,514,913		66,549	0.90
	Savings and consumer time			4,367,945		15,939	1.48			4,328,326		13,546	1.26
	Large time			7,232,767		28,002	1.57			6,604,845		20,091	1.22
		Total interest bearing deposits		34,097,774		105,038	1.25			40,448,084		100,186	0.99
Federal funds purchased and securities sold under repurchase agreements				251,946		53	0.09			163,381		19	0.05
Net funding allocated from (to) discontinued operations ⁽¹³⁾				-		-	-			-		-	-
Commercial paper				721,416		1,592	0.89			569,337		954	0.67
Other borrowed funds ⁽¹⁴⁾				5,083,086		11,477	0.92			2,124,419		5,616	1.06
Medium and long-term debt				4,743,352		27,529	2.35			5,137,901		29,415	2.30
Trust notes				13,922		238	6.84			13,809		238	6.90
		Total borrowed funds		10,813,722		40,889	1.53			8,008,847		36,242	1.82
		Total interest bearing liabilities		44,911,496		145,927	1.32			48,456,931		136,428	1.13
Noninterest bearing deposits				12,535,399						13,904,328
Other liabilities				2,289,392						1,830,917
		Total liabilities		59,736,287						64,192,176
Stockholder's Equity
Common equity				7,336,212						7,303,050
		Total stockholder's equity		7,336,212						7,303,050
		Total liabilities and stockholder's equity	$	67,072,499					$	71,495,226
Reported Net Interest Income/Margin
Net interest income/margin (taxable-equivalent basis)						562,620	3.79	%				553,094	3.41	%
Less: taxable-equivalent adjustment						2,617						2,748
		Net interest income			$	560,003					$	550,346

		Average Assets and Liabilities of Discontinued Operations for Period Ended:
					March 31, 2009						June 30, 2009
		Assets			$	-					$	-
		Liabilities			$	-					$	-
		Net Liabilities			$	-					$	-


Refer to Exhibit 12 for footnote explanations.

UnionBanCal Corporation and Subsidiaries
Net Interest Income (Unaudited)
Exhibit 8

			For the Six Months Ended
				6/30/2008								6/30/2009⁽¹⁾
						Interest			Average					Interest		Average
			Average			Income/			Yield/		Average			Income/		Yield/
(Dollars in thousands)			Balance			Expense⁽²⁾			Rate⁽²⁾⁽⁵⁾		Balance			Expense⁽²⁾		Rate⁽²⁾⁽⁵⁾
Assets
Loans: ⁽¹¹⁾
	Commercial, financial and industrial		$	16,317,333		$	467,915		5.77	%	$	18,210,574		$	388,347	4.30	%
	Construction			2,520,265			67,411		5.38			2,761,302			39,919	2.92
	Residential mortgage			14,244,248			392,541		5.51			16,006,925			464,707	5.81
	Commercial mortgage			7,536,401			224,692		5.96			8,253,963			194,078	4.70
	Consumer			2,832,243			90,843		6.45			3,782,055			90,655	4.83
	Lease financing			647,315			7,468		2.31			657,170			13,251	4.03
		Total loans		44,097,805			1,250,870		5.69			49,671,989			1,190,957	4.81
Securities - taxable				8,324,489			202,196		4.86			8,442,693			199,994	4.74
Securities - tax-exempt				53,051			2,187		8.24			49,290			2,041	8.28
Interest bearing deposits in banks				48,711			356		1.47			3,225,689			4,450	0.28
Federal funds sold and securities purchased under resale agreements				270,718			3,786		2.81			200,067			238	0.24
Trading account assets				766,795			3,923		1.03			1,153,293			389	0.07
		Total earning assets		53,561,569			1,463,318		5.48			62,743,021			1,398,069	4.47
Allowance for loan losses				(427,801	)							(774,142	)
Cash and due from banks				1,710,000								1,300,479
Premises and equipment, net				483,383								671,995
Other assets				2,623,959								5,354,830
		Total assets	$	57,951,110							$	69,296,183
Liabilities
Deposits:
	Transaction accounts		$	15,207,766			142,428		1.88		$	26,025,374			127,646	0.99
	Savings and consumer time			4,013,034			37,447		1.88			4,348,026			29,485	1.37
	Large time			11,446,331			185,294		3.26			6,917,071			48,093	1.40
		Total interest bearing deposits		30,667,131			365,169		2.39			37,290,471			205,224	1.11
Federal funds purchased and securities sold under repurchase agreements				2,189,525			28,263		2.60			207,419			72	0.07
Net funding allocated from (to) discontinued operations ⁽¹³⁾				40,667			509		2.52			-			-	-
Commercial paper				1,347,271			18,071		2.70			644,956			2,546	0.80
Other borrowed funds ⁽¹⁴⁾				2,383,954			35,690		3.01			3,595,580			17,093	0.96
Medium and long-term debt				2,238,097			39,149		3.52			4,941,716			56,944	2.32
Trust notes				14,318			476		6.66			13,865			476	6.87
		Total borrowed funds		8,213,832			122,158		2.99			9,403,536			77,131	1.65
		Total interest bearing liabilities		38,880,963			487,327		2.52			46,694,007			282,355	1.22
Noninterest bearing deposits				12,741,338								13,223,645
Other liabilities				1,661,380								2,059,013
		Total liabilities		53,283,681								61,976,665
Stockholder's Equity
Common equity				4,667,429								7,319,518
		Total stockholder's equity		4,667,429								7,319,518
		Total liabilities and stockholder's equity	$	57,951,110							$	69,296,183
Reported Net Interest Income/Margin
Net interest income/margin (taxable-equivalent basis)							975,991		3.65	%					1,115,714	3.56	%
Less: taxable-equivalent adjustment							4,855								5,365
		Net interest income				$	971,136							$	1,110,349

		Average Assets and Liabilities of Discontinued Operations for Period Ended:
						June 30, 2008								June 30, 2009
		Assets				$	109,594							$	-
		Liabilities				$	150,261							$	-
		Net Liabilities				$	(40,667	)						$	-


Refer to Exhibit 12 for footnote explanations.

UnionBanCal Corporation and Subsidiaries

Noninterest income (Unaudited)
Exhibit 9

											Percentage Change to
			For the Three Months Ended								June 30, 2009 from
			June 30,		March 31,			June 30,			June 30,			March 31,
	(Dollars in thousands)			2008		2009⁽¹⁾			2009⁽¹⁾		2008			2009
	Service charges on deposit accounts		$	77,706	$	71,322		$	71,843		(7.55	)	%	0.73		%
	Trust and investment management fees			43,802		33,907			34,130		(22.08	)		0.66
	Merchant banking fees			11,085		13,832			19,924		79.74			44.04
	Trading account activities			16,687		22,692			16,251		(2.61	)		(28.38	)
	Brokerage commissions and fees			10,635		8,307			8,506		(20.02	)		2.40
	Card processing fees, net			8,167		7,536			8,124		(0.53	)		7.80
	Securities losses, net			-		-			(172	)	nm			nm
	Gains (losses) on private capital investments, net			1,282		(2,121	)		(1,123	)	nm			(47.05	)
	Other			30,262		19,241			25,730		(14.98	)		33.72
		Total noninterest income	$	199,626	$	174,716		$	183,213		(8.22	)	%	4.86		%


Noninterest expense (Unaudited)

											Percentage Change to
			For the Three Months Ended								June 30, 2009 from
			June 30,		March 31,			June 30,			June 30,			March 31,
	(Dollars in thousands)			2008		2009⁽¹⁾			2009⁽¹⁾		2008			2009
	Salaries and other compensation		$	204,077	$	188,223		$	191,104		(6.36	)	%	1.53		%
	Employee benefits			39,222		55,340			41,953		6.96			(24.19	)
		Salaries and employee benefits		243,299		243,563			233,057		(4.21	)		(4.31	)
	Regulatory agencies			4,897		17,938			52,836		nm			nm
	Net occupancy			38,232		41,921			43,222		13.05			3.10
	Intangible asset amortization			670		40,887			40,281		nm			(1.48	)
	Outside services			20,295		18,834			22,948		13.07			21.84
	Professional services			15,931		15,938			19,489		22.33			22.28
	Equipment			15,141		15,413			16,602		9.65			7.71
	Software			14,409		15,038			14,205		(1.42	)		(5.54	)
	Advertising and public relations			12,857		10,621			11,349		(11.73	)		6.85
	Low income housing credit investment amortization			8,493		10,166			11,026		29.82			8.46
	Communications			9,111		8,718			9,192		0.89			5.44
	Data processing			7,784		8,575			8,042		3.31			(6.22	)
	Foreclosed asset expense			83		886			3,282		nm			270.43
	Provision for losses on off-balance sheet commitments			5,000		26,000			15,000		200.00			(42.31	)
	Privatization-related expense			-		26,819			7,433		nm			(72.28	)
	Other			23,110		20,066			24,094		4.26			20.07
		Total noninterest expense	$	419,312	$	521,383		$	532,058		26.89		%	2.05		%


Refer to Exhibit 12 for footnote explanations.

UnionBanCal Corporation and Subsidiaries

Noninterest income (Unaudited)
Exhibit 10

									Percentage Change to
			For the Six Months Ended						June 30, 2009 from
			June 30,			June 30,			June 30,
	(Dollars in thousands)			2008			2009⁽¹⁾		2008
	Service charges on deposit accounts		$	152,442		$	143,165		(6.09	)	%
	Trust and investment management fees			87,190			68,037		(21.97	)
	Trading account activities			27,699			38,943		40.59
	Merchant banking fees			22,878			33,756		47.55
	Brokerage commissions and fees			20,494			16,813		(17.96	)
	Card processing fees, net			15,931			15,660		(1.70	)
	Securities losses, net			(2	)		(172	)	nm
	Gains (losses) on private capital investments, net			2,352			(3,244	)	nm
	Gains on the VISA IPO redemption			14,211			-		(100.00	)
	Other			51,827			44,971		(13.23	)
		Total noninterest income	$	395,022		$	357,929		(9.39	)	%


Noninterest expense (Unaudited)

									Percentage Change to
			For the Six Months Ended						June 30, 2009 from
			June 30,			June 30,			June 30,
	(Dollars in thousands)			2008			2009⁽¹⁾		2008
	Salaries and other compensation		$	396,089		$	379,327		(4.23	)	%
	Employee benefits			88,880			97,293		9.47
		Salaries and employee benefits		484,969			476,620		(1.72	)
	Net occupancy			74,434			85,143		14.39
	Intangible asset amortization			1,340			81,168		nm
	Regulatory agencies			7,506			70,774		nm
	Outside services			37,304			41,782		12.00
	Professional services			30,528			35,427		16.05
	Equipment			30,488			32,015		5.01
	Software			29,204			29,243		0.13
	Advertising and public relations			20,956			21,970		4.84
	Low income housing credit investment amortization			17,632			21,192		20.19
	Communications			18,486			17,910		(3.12	)
	Data processing			14,860			16,617		11.82
	Foreclosed asset expense			172			4,168		nm
	Provision for losses on off-balance sheet commitments			13,000			41,000		215.38
	Privatization-related expense			-			34,252		nm
	Other			41,639			44,160		6.05
		Total noninterest expense	$	822,518		$	1,053,441		28.08		%


Refer to Exhibit 12 for footnote explanations.

UnionBanCal Corporation and Subsidiaries

Reconciliation of Non-GAAP Measures (Unaudited)
Exhibit 11


The following table presents a reconciliation between certain Generally Accepted Accounting Principles (GAAP) amounts and specific non-GAAP measures as used to complete selected non-GAAP financial ratios.

	For the three months ended						For the six months ended
(Dollars in thousands)	March 31, 2009			June 30, 2009			June 30, 2009
Loss from continuing operations	$	(9,808	)	$	(80,007	)	$	(89,815	)
Privatization-related expense, net of tax		16,360			4,514			20,874
Net accretion and amortization related to fair value adjustments, net of tax		4,518			8,765			13,283
Income (loss) from continuing operations, excluding impact of privatization transaction	$	11,070		$	(66,728	)	$	(55,658	)

Average total assets	$	67,072,499		$	71,495,226		$	69,296,183
Net asset and liability fair value adjustments		2,621,275		$	2,610,303		$	2,615,721
Average total assets, excluding impact of privatization transaction	$	64,451,224		$	68,884,923		$	66,680,462

Return on average assets from continuing operations		(0.06	%)		(0.45	%)		(0.26	%)
Effect of privatization transaction		0.13	%		0.06	%		0.09	%
Return on average assets from continuing operations, excluding impact of privatization transaction		0.07	%		(0.39	%)		(0.17	%)

Average stockholder's equity	$	7,336,212		$	7,303,050		$	7,319,518
Net adjustments related to privatization transaction		2,416,165			2,423,392			2,405,947
Average stockholder's equity, excluding impact of privatization transaction	$	4,920,047		$	4,879,658		$	4,913,571

Return on stockholder's equity from continuing operations		(0.54	%)		(4.39	%)		(2.47	%)
Effect of privatization transaction		1.45	%		(1.09	%)		0.19	%
Return on stockholder's equity, excluding impact of privatization transaction		0.91	%		(5.48	%)		(2.28	%)

Noninterest expense	$	521,383		$	532,058		$	1,053,441
Privatization-related expense		26,819			7,433			34,252
Amortization related to fair value adjustments		42,542			41,894			84,436
Noninterest expense, excluding impact of privatization transaction	$	452,022		$	482,731		$	934,753

Total revenue	$	737,336		$	736,307		$	1,473,643
Accretion related to fair value adjustments		34,977			27,455			62,432
Total revenue, excluding impact of privatization transaction	$	702,359		$	708,852		$	1,411,211

Efficiency ratio		65.69	%		68.28	%		66.98	%
Effect of privatization transaction		(6.61	%)		(4.31	%)		(5.44	%)
Efficiency ratio, excluding impact of privatization transaction		59.08	%		63.97	%		61.54	%

UnionBanCal Corporation and Subsidiaries

Footnotes
Exhibit 12


⁽¹⁾	On November 4, 2008, Mitsubishi UFJ Financial Group, Inc. (MUFG), through its wholly-owned subsidiary, The Bank of Tokyo - Mitsubishi UFJ, Ltd. (BTMU), completed its acquisition of all of the remaining outstanding shares of UnionBanCal Corporation (the Company) common stock (the “privatization transaction”). The Company estimated the fair value of its tangible assets and liabilities as of October 1, 2008 and recorded fair value adjustments to its tangible assets and liabilities equivalent to the proportionate incremental percentage ownership acquired by BTMU in the privatization transaction. In addition, the Company recorded goodwill and other intangible assets. The Company’s financial condition as of December 31, 2008 and subsequent periods reflect the impact of these fair value adjustments and other amounts recorded. The Company’s results of operations for the first and second quarter of 2009 include accretion and amortization related to the fair value adjustments.
⁽²⁾	Yields and interest income are presented on a taxable-equivalent basis using the federal statutory tax rate of 35 percent.
⁽³⁾	End of period total assets and assets used in calculating these ratios include those of discontinued operations.
⁽⁴⁾	Average balances used to calculate our financial ratios are based on continuing operations data only, unless otherwise indicated.
⁽⁵⁾	Annualized.
⁽⁶⁾	The efficiency ratio is noninterest expense, excluding foreclosed asset expense (income), the provision for losses on off-balance sheet commitments and low income housing credit (LIHC) investment amortization expense, as a percentage of net interest income (taxable-equivalent basis) and noninterest income, and is calculated for continuing operations only.
⁽⁷⁾	The tangible common equity ratio is the ratio of total equity less intangibles (net of the corresponding deferred tax liability), as a percentage of total assets, less intangibles.
⁽⁸⁾	Estimated as of June 30, 2009. The regulatory capital and leverage ratios include discontinued operations.
⁽⁹⁾	The allowance for credit losses ratios include the allowances for loan losses and losses on off-balance sheet commitments. These ratios relate to continuing operations only.
⁽¹⁰⁾	Reflects previously disclosed change in accounting policy for residential and home equity loans 90 days or more past due, which was effective January 1, 2009.
⁽¹¹⁾	Average balances on loans outstanding include all nonperforming loans and loans held for sale. The amortized portion of net loan origination fees (costs) is included in interest income on loans, representing an adjustment to the yield.
⁽¹²⁾	For the three months ended March 31, 2009, the computation of the average yield on Interest Bearing Deposits in Banks includes the average balance of interest bearing Federal Reserve Bank deposits, while the average balances of these deposits were reported in Cash and Due from Banks for this period.
⁽¹³⁾	Net funding allocated from (to) discontinued operations represents the shortage (excess) of assets over liabilities of discontinued operations. The expense (earning) on funds allocated from (to) discontinued operations is calculated by taking the net balance and applying an earnings rate or a cost of funds equivalent to the corresponding period's Federal funds purchased rate.
⁽¹⁴⁾	Includes interest bearing trading liabilities.
⁽¹⁵⁾	These ratios exclude the impact of the privatization transaction. Please refer to Exhibit 11 for a reconciliation between certain Generally Accepted Accounting Principles (GAAP) amounts and these non-GAAP measures.
nm = not meaningful

CONTACT:
UnionBanCal
Stephen L. Johnson, 415-765-3252 (Public Relations)
Michelle R. Crandall, 415-765-2780 (Investor Relations)

Delaware	001-15081	94-1234979
(State of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Exhibit No.	Description
99.1	Press release dated July 22, 2009.

Dated:	July 22, 2009


		UNIONBANCAL CORPORATION


		By:	/s/ David I. Matson
			David I. Matson
			Vice Chairman and Chief Financial Officer
			(Duly Authorized Officer)

Exhibit No.	Description
99.1	Press release dated July 22, 2009.