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Union Pacific Provides Third Quarter 2013 Update

OMAHA, NEB., OCTOBER 03, 2013 Union Pacific Corporation (NYSE: UNP) today provided details on its earnings expectations for the third quarter of 2013. The Company expects to report best-ever quarterly earnings in the range of $2.45 to $2.48 per diluted share, a double-digit increase compared to last year. Overall volumes were flat in the quarter compared to last year. Mild summer weather combined with disruptions from flooding in Colorado impacted coal volumes, and, to a lesser extent, other commodity shipments. In addition, an uncertain economic environment continues to impact intermodal volumes. Third Quarter 2013 expectations include: Operating revenue growth of 4 to 4.5 percent. Solid core pricing of about 3.5 percent, somewhat negatively impacted by lower coal volumes. Positive top-line business mix, although less favorable than traffic mix in the second quarter 2013. Operating ratio improvement of about 1.5 points from third quarter 2012 performance of 66.6 percent. Lost revenue and increased costs from the flooding in Colorado, expected to negatively impact operating income by roughly $10 million. "Our strong third quarter expectations reflect continued core pricing gains, ongoing productivity initiatives, and strong returns to our shareholders," said Rob Knight, Union Pacific chief financial officer. "In the fourth quarter, we expect these positive trends to continue, and we're hopeful that the economy cooperates and this year's grain harvest meets current projections, enabling year-over-year volume growth." The Company will report its third quarter 2013 earnings on Thursday, October 17, 2013, at approximately 8:00 a.m. Eastern Time, followed by a conference call that will be broadcast live over the Internet and via teleconference at 8:45 a.m. Eastern Time. Where: Union Pacific's website at How: Live over the Internet by logging on to the Web at the address above OR Dial-in telephone access Domestic 877/407-8293 International 201/689-8349 If you are unable to participate during the live teleconference, presentation materials and the call will be archived on Union Pacific's website at An MP3 downloadable audio file will also be available at the same location. About Union Pacific Union Pacific Railroad is the principal operating company of Union Pacific Corporation (NYSE: UNP). One of America's most recognized companies, Union Pacific Railroad links 23 states in the western two-thirds of the country by rail, providing a critical link in the global supply chain. From 2007-2012, Union Pacific invested $18 billion in its network and operations to support America's transportation infrastructure, including a record $3.7 billion in 2012. The railroad's diversified business mix includes Agricultural Products, Automotive, Chemicals, Coal, Industrial Products and Intermodal. Union Pacific serves many of the fastest-growing U.S. population centers, operates from all major West Coast and Gulf Coast ports to eastern gateways, connects with Canada's rail systems and is the only railroad serving all six major Mexico gateways. Union Pacific provides value to its roughly 10,000 customers by delivering products in a safe, reliable, fuel-efficient and environmentally responsible manner. Investor contact is Michelle Gerhardt, (402) 544-4227. Media contact is Tom Lange, (402) 544-3560.

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