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Press release from Business Wire

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

<p class='bwalignc'> <b>Union Bank expands CRE capabilities and East Coast presence</b> </p>

Sunday, April 07, 2013

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

23:55 EDT Sunday, April 07, 2013

SAN FRANCISCO (Business Wire) -- 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.

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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