Thomas F. McLarty Elected To Union Pacific Board Of Directors

Omaha, Neb., November 16, 2006 – Union Pacific Corporation (NYSE: UNP) today announced that Thomas (Mack) McLarty, 60, has been elected to the company’s board of directors. This will expand the size of the Union Pacific’s board to 11 members.

Mr. McLarty is president of Kissinger McLarty Associates, a partnership with Dr. Henry Kissinger that provides strategic advisory services to multinational companies.   Mr. McLarty is also Chairman of McLarty Companies, a fourth-generation family transportation business based in Little Rock, Arkansas. From 1992 to 1997, Mr. McLarty served in several senior positions in the Clinton White House, including Chief of Staff to the President, Counselor to the President, and Special Envoy for the Americas.  From 1983 to 1992, Mr. McLarty served as Chairman and Chief Executive Officer of Arkla, Inc., a Fortune 500 natural gas company.

"Mack has a distinguished record of business leadership and public service that will bring great insight and experience to our board," said Jim Young, Union Pacific’s president and chief executive officer.  "We are very pleased that he has agreed to serve as a director of our company."

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.

For more information, please contact James Barnes at (402) 544-3560.

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