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Press release from Business Wire

Union Bank Head of Wealth Markets Dennis J. Mooradian Named President and CEO of HighMark Capital Management

<p class='bwalignc'> <i>Earle Malm to Retire After 10 Years as HighMark President and CEO</i> </p>

Thursday, July 26, 2012

Union Bank Head of Wealth Markets Dennis J. Mooradian Named President and CEO of HighMark Capital Management10:30 EDT Thursday, July 26, 2012 SAN FRANCISCO (Business Wire) -- Union Bank, N.A., today announced that, effective August 1, 2012, Executive Vice President and head of Wealth Markets Dennis J. Mooradian will be President and Chief Executive Officer of HighMark Capital Management, Inc., Union Bank's asset management subsidiary. He will also serve as Chairman of the Board of Directors of HighMark Capital Management. He succeeds retiring President and CEO Earle A. Malm, who joined HighMark in 2002. Malm, who announced his retirement today, will stay on in an advisory role through September 2012. “Over the past decade, the HighMark funds have been acknowledged by Morningstar, accorded Lipper Fund Awards, and included in Barron's list of the top 10 performing mutual fund families,” said Mooradian. “In just the past 12 months, our mutual fund sales have more than doubled while the funds themselves have achieved placement on more than twelve Recommended Lists at major national brokers-dealers. These are impressive achievements led by Earle and his team,” he said. “We wish Earle every success in the future and we greatly appreciate his numerous contributions to HighMark over the past decade,” continued Mooradian. HighMark Capital Management provides a full range of investment solutions for retirement plans, public agencies, corporations, educational institutions, foundations, endowments, and high-net-worth individuals. Its nationally recognized family of HighMark Funds include 24 fixed-income funds, domestic and international equity funds, money market funds, and asset allocation portfolios. About UnionBanCal Corporation & Union Bank, N.A. Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $92.3 billion at March 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 operates 407 branches in California, Washington, Oregon, Texas, New York and Illinois, as well as 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. 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. About HighMark Capital Management, Inc. San Francisco-based HighMark Capital Management, Inc. (HCM) is a registered investment adviser, and a proud member of Mitsubishi UFJ Financial Group Inc. (MUFG, NYSE:MTU), one of the world's largest financial organizations. HCM is a wholly-owned subsidiary of Union Bank, N.A. Union Bank, N.A. is wholly owned by UnionBanCal Corporation. UnionBanCal Corporation is wholly owned by The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group. HCM is also the adviser to the HighMark Funds, a nationally recognized fund company offering a wide range of mutual funds including fixed income funds, domestic and international equity funds, conservatively managed money market funds and asset allocation portfolios. For more information on HighMark Fund's family of mutual funds and services, please visit www.highmarkfunds.com. HighMark Capital Management can be found on the Web at www.highmarkcapital.com. HighMark Funds Distributors, LLC, an affiliate of Foreside Funds Distributors LLC, is the principal underwriter of the HighMark Funds. HighMark Capital Management, Inc., a registered investment adviser, is a wholly-owned subsidiary of Union Bank, N.A., and serves as an investment adviser for HighMark Funds. Union Bank, N.A., a subsidiary of UnionBanCal Corporation, provides certain services to the Funds and is compensated for these services. NO BANK GUARANTEE, NOT FDIC INSURED, MAY LOSE VALUE. There is no guarantee that the Funds will meet their stated objectives. Investors should consider the Funds' investment objectives, risks, charges and expenses carefully before investing. This and other information can be found in the Funds' prospectus, which may be obtained by calling 800-433-6884 or by visiting http://www.highmarkfunds.com. Please read the prospectus carefully before investing. Union Bank, N.A.Tom Taggart, 415-765-2249thomas.taggart@unionbank.comorDaniel Weidman, 213-236-4050daniel.weidman@unionbank.com