FRA Certification Helpline: (216) 694-0240

(Union Pacific issued the following news release on July 18.)

OMAHA, Neb. — In conjunction with Union Pacific Corporation’s Second Quarter 2005 Earnings Release, you are invited to listen to its presentation that will be broadcast live over the Internet or via teleconference on Thursday, July 21, 2005 at 8:45 a.m. Eastern Time.

What: Union Pacific Corporation’s Second Quarter 2005 Earnings
Release
When: Thursday, July 21, 2005 at 8:45 a.m. ET
Where: www.up.com (under Investors)
How: Live over the Internet — Simply log on to the Web at the address above
OR
Dial-in telephone access
Domestic 877/407-8293
International 201/689-8349
Contact: Jennifer Hamann, Assistant Vice President – Investor Relations at 402/544-4227

Union Pacific Corporation owns one of America’s leading transportation companies. Its principal operating company, Union Pacific Railroad, links 23 states in the western two-thirds of the country and serves the fastest-growing U.S. population centers. Union Pacific’s diversified business mix includes Agricultural Products, Automotive, Chemicals, Energy, Industrial Products and Intermodal. The railroad offers competitive long-haul routes from all major West Coast and Gulf Coast ports to eastern gateways. Union Pacific connects with Canada’s rail systems and is the only railroad serving all six major gateways to Mexico, making it North America’s premier rail franchise.

If you are unable to participate during the live teleconference, the call will be archived on Union Pacific’s Web site at http://www.up.com. To access the replay, click on Investors.

(Minimum requirements to listen to broadcast: Windows Media Player software, downloadable free from http://www.microsoft.com/windows/windowsmedia/EN/default.asp, and at least a 28.8 Kbps connection to the Internet.)