• Umpqua Holdings Corporation
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  • Umpqua Bank to Open Seven New Bank Stores in 2004
    Company Release - 09/04/2003 09:00
                  New Stores to Follow Model of Flagship Pearl Store

    ROSEBURG, Ore., Sept. 4 /PRNewswire-FirstCall/ -- Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (Nasdaq: UMPQ), announced today it plans to open seven bank stores in 2004 that will include additional locations in Portland, Salem and Medford as well as a launch into the Bend market. This announcement follows the success of Umpqua's Pearl Store, the bank's next generation flagship store located in the heart of Portland's Pearl District.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20030827/UMPQLOGO )

    "Umpqua is creating a banking experience that makes traditional banking feel grossly outdated," said Ray Davis, president and CEO of Umpqua Bank. "Our de novo plans for 2004 will sustain Umpqua Bank's historically high internal growth rate of 15% or better. Umpqua's new stores will allow us to enhance our reach in several of our current markets as well as introduce a higher level of competition to the Bend area."

    Like all Umpqua Bank stores, the new locations will provide services for business and individual customers. Strand Atkinson Williams and York, Umpqua's retail brokerage subsidiary, will also expand with the new stores, providing a broad range of investment services to customers.

    About the Pearl Store

    Umpqua's flagship Pearl Store breaks the traditional banking mold with a focus on retail and customer service. The store is outfitted with wireless Internet laptop computers, a large flat screen television, the bank's signature coffee blend and a renewed commitment to Umpqua's emphasis on exceptional customer service. The new store design features items such as business books recommended by Portland, Ore.-based Powell's Books, Visa Gift Cards and a complimentary Umpqua chocolate presented on a tray with each transaction. To ensure exceptional customer service, every associate takes part in not only internal Umpqua training programs, but also the highly-regarded Ritz-Carlton customer service program.

    About Umpqua Bank

    Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation and has 64 locations between Ashland, Ore. and Vancouver, Wash., and along the Oregon Coast. Umpqua Holdings also owns retail brokerage subsidiary Strand, Atkinson, Williams & York, which has nine locations throughout Oregon and Southwest Washington and offers brokerage services within Umpqua Bank stores. Additionally, Umpqua Holdings' Private Client Services Division provides tailored financial services and products to individual customers. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit www.umpquabank.com.

    This press release includes forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements that expressly or implicitly predict future results, performance or events are forward-looking statements. The words "plans to," "anticipate," "believe," "expect," "estimate," "intend" and words or phrases of similar meaning are intended to identify forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated. Factors that could cause or contribute to those differences include, but are not limited to, the following: general economic conditions, either nationally or regionally that could result in increased loan losses, interest rate fluctuations, pricing pressure and other competitive factors, potential delays or problems with locating or developing suitable store sites, and changes in legal or regulatory requirements. Readers are encouraged to review the risk factors stated in the Company's 10-K and other reports filed with the SEC and are cautioned not to place undue reliance on forward-looking statements. The Company does not intend to update these forward-looking statements. All written and oral forward-looking statements attributable to the Company and/or persons acting on its behalf are expressly qualified by this disclosure.

    SOURCE  Umpqua Holdings Corporation
        -0-                             09/04/2003
        /CONTACT:  Lani Hayward of Umpqua Bank, +1-503-228-2117, or
    lanihayward@umpquabank.com; or Kelly Rasmussen of Lane Marketing,
    +1-503-221-0480, or kelly@lanemarketing.com, for Umpqua Bank/
        /Photo:  http://www.newscom.com/cgi-bin/prnh/20030827/UMPQLOGO
                 AP Archive:  http://photoarchive.ap.org
                 PRN Photo Desk, 888-776-6555 or 212-782-2840/
        /Web site:  http://www.umpquabank.com /
        /Web site:  http://www.umpquaholdingscorp.com /
    CO:  Umpqua Holdings Corporation; Umpqua Bank
    ST:  California
    IN:  FIN
    -- SFTH025 --
    6954 09/04/200309:00 EDThttp://www.prnewswire.com