FRA Certification Helpline: (216) 694-0240

(Union Pacific distributed the following news release on March 27.)

OMAHA, Neb. — In conjunction with Union Pacific Corporation’s First Quarter 2003 Earnings Release, you are invited to listen to its presentation that will be broadcast live over the Internet or via teleconference on Thursday, April 24, at 8:45 a.m. Eastern Time.

What: Union Pacific Corporation’s First Quarter 2003 Earnings Release
When: Thursday, April 24, 2003, 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 888-560-1989 International 973-582-2824
Contact: Jennifer Hamann, Assistant Vice President – Investor Relations at 402-271-4227

Union Pacific Corporation is 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 the six major gateways to Mexico, Union Pacific has the premier rail franchise in North America. The Corporation’s trucking operations include Overnite Corporation, which owns less-than-truckload carriers, Overnite Transportation and Motor Cargo.