Bay Area Toll Authority Awards Contract to Union Bank of California to Collect, Process Tolls for Seven Area Bridges; $5.35 Million Per Week Processed Under Two-Year Contract.

SAN FRANCISCO -- The Metropolitan Transportation Commission (MTC) which, in its role as the Bay Area Toll Authority (BATA), administers and allocates revenues from seven state-owned bridges in the Bay Area, has awarded a two-year contract to Union Bank of California to manage the collection and processing of bridge tolls, serve as BATA's bank of deposit, and provide currency and coin to each bridge.

The seven bridges overseen by MTC/BATA include the San Francisco-Oakland Bay, Carquinez, Dumbarton, Richmond-San Rafael, Antioch, Benicia-Martinez and San Mateo-Hayward Bridges. As a result of Regional Measure 2, a comprehensive program of transit and highway improvements approved by Bay Area voters in March 2004, tolls on the seven state-owned bridges increased by $1 on July 1, with the toll for cars and other single-axle vehicles rising to $3. On a weekly basis, these bridges receive approximately $5.35 million.

"With the recent toll increase, BATA's growing responsibility for the Bay Area transportation system just got bigger," said Randy Rentschler, manager of legislation and public affairs for MTC/BATA. "One of our responsibilities is to make sure toll payers get the biggest bang for that extra buck. We're pleased to have an experienced banking partner that is familiar with the day-to-day demands and challenges of cash processing and accounting."

To improve the efficiency of bridge operations, BATA is taking a number of steps to increase electronic toll collection via FasTrak(TM) transponders. More lanes at the bridge toll plazas are being designated for the exclusive use of FasTrak(TM)-equipped vehicles, and BATA is offering a $1 discount through Oct. 31 on tolls for FasTrak(TM) users driving cars or light trucks. Transponders are free of charge, and FasTrak(TM) accounts carry no servicing charges. Motorists can open an account online at www.511.org or by calling 888-725-TRAK (8725) toll free.

In addition to the transportation improvements specified in Regional Measure 2, BATA is funding a program of bridge and bridge access improvements through Regional Measure 1, which was approved by Bay Area voters in 1988 and established a base $1 toll on all seven of the region's state-owned toll bridges. The state Legislature raised tolls to $2 in 1998, with the additional dollar used to finance a seismic retrofit program for the seven bridges.

"It is important that commuters know their money is being handled effectively," said Donna Hodgson, senior vice president in charge of Union Bank's government services division. "We're very pleased to support BATA with our cash management expertise, thereby allowing them to focus on the important task of allocating funds for regional transportation initiatives."

In the early 1990s, Union Bank of California formed a dedicated government services division to work with federal, state and local governments. Today, the bank's government and not-for-profit markets division provides a full range of treasury management, investment, lending and trust services to government entities and not-for-profit organizations.

Union Bank of California is a market share leader in serving public agency accounts throughout California, with more than 625 government clients, including local water districts, the State of California, the U.S. Postal Service and Native American Indian tribal governments.

Based in San Francisco, UnionBanCal Corporation (NYSE:UB) is a bank holding company with assets of $46.3 billion at June 30, 2004. Its primary subsidiary, Union Bank of California, N.A., has 297 banking offices in California, 4 banking offices in Oregon and Washington and 21 international facilities, at June 30, 2004. The company Web site is located at www.uboc.com.