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Business Description
UnionBanCal Corporation is a commercial bank holding company and has, as its major subsidiary, Union Bank of California, N.A. (the Bank). The Bank is a commercial bank that derives most of its revenues from lending, deposit taking and trust services to customers primarily in California. The Company also services customers in the western United States nationally and internationally. As of December 31, 2003, UnionBanCal operated 280 full-service branches in California, four full-service branches in Oregon and Washington and 21 international offices. In addition, it has another 45 limited-service branches, including five Cash & Save facilities and three Private Bank offices. The Bank of Tokyo-Mitsubishi, Ltd., which is a wholly owned subsidiary of Mitsubishi Tokyo Financial Group, Inc., owned approximately 63% of the Company's outstanding common stock at December 31, 2003.

Financial Information
For the nine months ended 9/30/04, interest income rose 1% to $1.35 billion. Net interest income after loan loss provisions rose 12% to $1.24 billion. Net income rose 27% to $552 million. Results reflect loan growth, reversal of credit loss provisions, and decreased salaries expenses.