FRA Certification Helpline: (216) 694-0240

(Union Pacific issued the following on February 28.)

OMAHA, Neb. — The Board of Directors of Union Pacific Corporation (NYSE: UNP) has declared a quarterly dividend of 44 cents per share on its common stock, payable April 1, 2008 to stockholders of record March 12, 2008.

Union Pacific has paid dividends on its common stock for 109 consecutive years.