BTMU liquidates Union "Bank of California" International

Mitsubishi UFJ Financial Group, Inc. (MUFG) has announced that The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), a subsidiary of MUFG, has decided to liquidate "Union Bank of California" International. Union Bank of California International is a subsidiary of BTMU’s subsidiary,
UnionBanCal Corporation (UNBC).
A. Outline of Union Bank of California International
- Address: New York, NY, USA
-Director: David A. Anderson
-Capital: US dollars 2,000 thousand
- Business: Trade and foreign exchange operations
B. Reason for liquidation
Union Bank of California International had conducted UNBC's correspondent banking business.
Due to sale of UNBC Group's international correspondent banking business,
it has been decided to liquidate Union Bank of California International.
C. Timing of Liquidation
Liquidation is expected to be completed by the end of March 2007.
D. Impact on MUFG’s business forecast
This event is not expected to have any material effect on MUFG’s previously announced business forecast for the current fiscal year.