Union Pacific Corporation Invites You to Join Its Fourth Quarter Earnings Release Broadcast

Omaha, Neb., January 15, 2009 – In conjunction with Union Pacific Corporation's  (NYSE: UNP) Fourth Quarter 2008 Earnings Release, you are invited to listen to its presentation that will be broadcast live over the Internet or via teleconference on Thursday, January 22, 2009 at 8:45 a.m. Eastern Time.

 What:      Union Pacific Corporation's Fourth Quarter 2008 Earnings Release

 When:     Thursday, January 22, 2009 at 8:45 a.m. ET

 Where:     www.up.com (under Investors)

 How:        Live over the Internet - - Simply log on to the Web at the address above
 OR           Dial-in telephone access  
                    Domestic          877/407-8293
                    International     201/689-8349

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

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.  An MP3 downloadable audio file also will be available at the same location.

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.

Additional information is available at Union Pacific's Web site: www.up.com.  The contact for investors is Jennifer Hamann at (402) 544-4227.

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 Such information by its nature may become outdated, and investors should not assume that the statements and information contained in Union Pacific's news releases remain current after the date issued.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.