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MURRAY FRANK LLP Announces Investigation Of Pacific Capital Bancorp

MURRAY FRANK LLP is investigating possible breaches of fiduciary duties by members of the board of directors of Pacific Capital Bancorp (NASDAQ: PCBC) (“PCBancorp” or the “Company”) in relation to the proposed sale of the Company to UnionBanCal Corporation (“UNBC”), in a transaction valued at approximately $1.5 billion.

The investigation focuses on whether certain members of PCBancorp’s board of directors breached their fiduciary duties in connection with their efforts to sell PCBancorp to UNBC at an inadequate price through an unfair process which significantly undervalues the Company. For more information regarding our investigation, please contact Murray Frank LLP (Bridget V. Hamill) toll free at (800) 497-8076 or by email at investigations@murrayfrank.com.

On March 12, 2012, UNBC and its primary subsidiary, Union Bank, N.A., announced that UNBC had entered into a definitive merger agreement to acquire PCBancorp in an all-cash transaction by which PCBancorp stockholders will receive $46.00 in cash in exchange for each share of PCBancorp common stock owned. The acquisition is expected to close in the fourth quarter of 2012.

If you are a current investor in PCBancorp, who purchased PCBC shares before March 12, 2012, and you wish to discuss this investigation or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Bridget V. Hamill at (800) 497-8076 or (212) 682-1818, or by email at investigations@murrayfrank.com.

Copyright Business Wire 2010

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