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For Immediate Release

Tom Taggart
(415) 765-2249

P J Johnson
(212) 405-7014


SAN FRANCISCO - July 26, 2011 - Union Bank, N.A., UnionBanc Investment Services (UBIS) and Mitsubishi UFJ Securities (USA), Inc., today announced a program to offer municipal securities underwriting to state and local governments across the U.S.  Union Bank has deep roots in providing banking services to local governments, municipalities, states and other governmental entities and by joining forces with UBIS and MUS (USA), will now add municipal bond underwriting to its suite of services for its government clients.

UBIS is a wholly-owned subsidiary of Union Bank and a registered broker-dealer engaged in the retail and institutional securities business. MUS (USA), a subsidiary of Mitsubishi UFJ Financial Group, one of the world’s largest financial services companies, is a broker-dealer actively engaged in the securities and investment banking business. It recently expanded its underwriting capabilities to include municipal finance. Union Bank also is a member of the MUFG companies through its holding company, UnionBanCal Corporation, a subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd.

The partnership will initially be driven through a referral system, whereby Union Bank’s Public Finance and Government Services Group will refer municipal securities underwriting prospects from the bank to UBIS, which will then refer qualified prospects to MUS (USA). The Public Finance and Government Services Group will remain fully engaged in the relationship and serve as the primary relationship manager for banking services while MUS (USA) will manage all underwriting functions. Union Bank, via UBIS, has been referring corporate clients for other underwriting services to MUS (USA) for several years.

"This enhancement to our partnership with MUS (USA) will give Union Bank significant new capabilities in serving our government clients and allow us to deepen our relationships with them," said Executive Vice President Todd Gregory of Union Bank’s Global Treasury Management Group. "We now will be able to offer our government clients a broader product mix equaling the largest banking competitors in the country. Municipal bond underwriting is a highly regulated activity, and together with MUS (USA) we have established an appropriate compliance structure to address this new activity," Gregory added.

The market for municipal, state and local, and public enterprise debt in the U.S. is sizeable, with nearly $3 trillion in debt outstanding and more than 30,000 active issues, according to the bond-insurer Assured Guaranty.

"We are excited about the opportunity to build business in the tax exempt market working closely with Union Bank and UBIS," said Spenser Huston, Managing Director and Head of the Capital Markets Group for MUS (USA). "The relationship we have built with UBIS and the bank over a short period of time has been productive and successful, and I anticipate it will continue to grow over time."

About UnionBanCal Corporation & Union Bank, N.A.

Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $80.6 billion at March 31, 2011. 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. The bank operated 401 banking offices in California, Washington, Oregon and Texas, as well as two international offices, on March 31, 2011. 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. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE:MTU), one of the world’s largest financial organizations. Visit for more information.

About UBIS
Investments available through UnionBanc Investment Services LLC, a registered broker-dealer, investment adviser, member FINRA/SIPC, and subsidiary of Union Bank, N.A., are not insured by the FDIC or by any other federal government agency; are not bank deposits; are not guaranteed by the Bank or any Bank Affiliate; and are subject to investment risk, including the possible loss of principal.

About Mitsubishi UFJ Securities (USA), Inc.
A wholly-owned unit of Mitsubishi UFJ Securities Holdings Co., Ltd. ["MUSHD"], MUS (USA), headquartered in New York, is a registered broker-dealer member of FINRA and SIPC, and provides investment banking and brokerage products and services.

MUSHD [ ] is part of the Mitsubishi UFJ Financial Group and, through its global network of subsidiaries, offers a broad range of securities, derivatives and investment banking products and services including brokerage, trading, underwriting, mergers and acquisitions, securitization, corporate advisory and asset management to individual and corporate customers around the world. MUSHD's global network spans Japan, the UK, U.S., Singapore, Hong Kong and China.