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Union Bank to Acquire $3.7 Billion Commercial Real Estate Portfolio from PB Capital



  Union Bank to Acquire $3.7 Billion Commercial Real Estate Portfolio from PB
  Capital

         Union Bank expands CRE capabilities and East Coast presence

Business Wire

SAN FRANCISCO -- April 7, 2013

Union Bank, N.A. today announced that it reached an agreement to acquire PB
Capital Corporation’s institutional commercial real estate (CRE) lending
portfolio and platform. The acquisition expands Union Bank’s CRE presence in
the U.S., and brings a high-quality commercial real estate loan origination
and servicing platform, geographic and asset class diversification, a
desirable real estate customer base, and a seasoned management team.
Headquartered in New York, the CRE lending division of PB Capital has
approximately $3.7 billion in loans outstanding on properties in major
metropolitan areas across the U.S. The acquisition is subject to customary
closing conditions, and is expected to be completed in the second quarter of
2013.

“This is an important strategic acquisition for Union Bank, as it leverages
our established CRE capabilities by adding a national origination platform and
strong relationships with top-tier property owners,” said Union Bank President
& CEO Masashi Oka. “The transaction also enables the Bank of Tokyo-Mitsubishi
UFJ (BTMU) to efficiently leverage its strength in the Americas and deploy
capital into high-quality assets, through the strong capital position and U.S.
dollar funding capabilities of Union Bank,” said Oka, who is also CEO for the
Americas for BTMU.

“The PB Capital team brings deep experience and strong relationships with
marquee property owners that will provide tremendous expansion of our
capabilities,” said Michael Stedman, Senior Executive Vice President and head
of Union Bank’s Real Estate Industries. “The ability to originate, underwrite
and service institutional CRE loans on a national platform will drive
additional business opportunities for Union Bank and BTMU in the U.S.”

An investor presentation for this transaction is available at
https://www.unionbank.com/Images/UBInvestorDeck20130405.pdf

About PB Capital

PB Capital Corporation is a wholly owned subsidiary of Deutsche Bank AG.

About UnionBanCal Corporation & Union Bank, N.A.

Headquartered in San Francisco, UnionBanCal Corporation is a financial holding
company with assets of $97 billion at December 31, 2012. 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 447 branches in
California, Washington, Oregon, Texas, Illinois, and New York as well as two
international offices, on December 31, 2012. 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 http://www.unionbank.com for
more information.

Cautionary Statement Concerning Forward-Looking Information

This document 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.” There are numerous risks and uncertainties that could and
will cause actual results to differ materially from those discussed in UNBC’s
forward-looking statements. Many of these factors are beyond UNBC’s ability to
control or predict and could have a material adverse effect on UNBC’s
financial condition, results of operations and/or prospects. Such risks and
uncertainties include, but are not limited to uncertainties as to the timing
of completion of the proposed acquisition, UNBC’s ability to retain key
employees and other risks and uncertainties discussed in UNBC’s public filings
with the SEC. All forward-looking statements included in this document are
based on information available at the time of such document, and UNBC assumes
no obligation to update any forward-looking statement.

Contact:

Union Bank
Jane Yedinak, 415-765-3241
jane.yedinak@unionbank.com
or
PB Capital
Duncan King, 212-250-4864
duncan.king@db.com
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