Union Pacific Corporation to Host Analyst Conference and Web Cast

Omaha, Neb., September 18, 2006 – Union Pacific Corporation (NYSE: UNP) will host a live Web cast of a meeting for financial analysts and investors in Dallas, TX. The conference will begin at 1:00 p.m. Central Time, Tuesday, October 3, and conclude at approximately 5:30 p.m.

What: Union Pacific Corporation's 2006 Analyst Conference

When: Tuesday, October 3, 2006 – 1:00 p.m. CT

Where: www.up.com (under Investors)

How: Live over the Internet - Simply logon to the Web at the address above

Contact: Jennifer Hamann, Assistant Vice President - Investor Relations at 402/544-4227

For those who cannot listen to the live Web cast, a replay will be available on Union Pacific’s Web site at www.up.com about two hours after the conclusion of the meeting. To access the replay, click on "Investors."

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.

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

The statements and information contained in the news releases provided by Union Pacific speak only as of the date issued. Such information by its nature may become outdated, and investors should not assume that the statements and information contained in Union Pacific's news releases remain current after the date issued. Union Pacific makes no commitment, and disclaims any duty, to update any of this information.