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Union Pacific Corporation Declares Quarterly Dividend of 27 Cents Per Share

Omaha, Neb., November 19, 2009 – The Board of Directors of Union Pacific Corporation (NYSE: UNP) has declared a quarterly dividend of 27 cents per share on its common stock, payable January 4, 2010 to stockholders of record November 30, 2009.

Union Pacific has paid dividends on its common stock for 110 consecutive years.

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. Union Pacific serves many of the fastest-growing U.S. population centers and provides Americans with a fuel-efficient, environmentally responsible and safe mode of freight transportation. Union Pacific's diversified business mix includes Agricultural Products, Automotive, Chemicals, Energy, Industrial Products and Intermodal. The railroad emphasizes excellent customer service and offers competitive 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.

Contact for investors is Jennifer Hamann at (402) 544-4227.

Contact for media is Donna M. Kush at (402) 544-3753.

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 Such information by its nature may become outdated, and investors should not assume that the statements and information contained in Union Pacific's news releases remain current after the date issued.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