FRA Certification Helpline: (216) 694-0240

(Union Pacific issued the following news release on June 22.)

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 8:45a.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 logon to the Web at the address above
OR
Dial-in telephone access
Domestic 877/407-8293
International 201/689-8349

Union Pacific Corporation owns one of America’s leading transportation companies. Its principal operating company, Union Pacific Railroad, is the largest railroad in North America, covering 23 states across the western two-thirds of the United States. A strong focus on quality and a strategically advantageous route structure enable the company to serve customers in critical and fast growing markets. It is a leading carrier of low-sulfur coal used in electrical power generation and has broad coverage of the large chemical-producing areas along the Gulf Coast. With competitive long-haul routes between all major West Coast ports and eastern gateways, and as the only railroad to serve all six major gateways to Mexico, Union Pacific has the premier rail franchise in North America.

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.