Union Pacific Corporation Second Quarter Earnings Release Teleconference & Webcast

In conjunction with Union Pacific Corporation's (NYSE: UNP) Second Quarter 2004 earnings release, you are invited to listen to its presentation that will be broadcast live via Internet webcast or via teleconference call on Thursday, July 22, 2004 at 8:45 a.m. Eastern Time.

Dial-in telephone access - Domestic 888/560-1989 - International 973/582-2824.

If you are unable to participate during the live teleconference call, the call will be webcast and archived on Union Pacific's Web site . To access the replay, click on Investors.