Appoints Ric Carey to Executive Vice President
                   Retail Sales and Services and Gary Gray
              To Executive Vice President Retail Administration

PORTLAND, Ore., Dec. 4 /PRNewswire-FirstCall/ -- Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (Nasdaq: UMPQ), announced today it is restructuring its retail banking division with the promotion of Ric Carey to executive vice president of retail sales and services and the appointment of Gary Gray to the newly created position of executive vice president of retail administration.

(Logo: http://www.newscom.com/cgi-bin/prnh/20030917/SFW078LOGO )

"The appointments of Ric Carey and Gary Gray ensure that we are poised for continued growth while still delivering Umpqua's hallmark quality service," said Ray Davis, president and CEO of Umpqua Bank. "To enable us to remain a community bank, it is of the utmost importance to be responsive to our customers and enhance our sales and service culture. These changes support that goal."

Carey formerly served as senior vice president of client strategies. As executive vice president of retail sales and services, he will oversee the Umpqua Bank network of stores including retail personnel and senior programs. He will also continue to oversee client strategies.

Under Gray's appointment to the new position of executive vice president of retail administration, he will continue to oversee consumer and small business lending, retail operations, call center and facilities. The joint appointment of two executives in the retail division was prompted by Umpqua's continued growth and its focus on industry leading service standards.

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, Inc., 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.

SOURCE  Umpqua Bank
    -0-                             12/04/2003
    /CONTACT:  Lani Hayward of Umpqua Bank, +1-503-228-2117, or
lanihayward@umpquabank.com; or Charley Ciresi of Lane Marketing,
+1-503-221-0480, or charley@lanemarketing.com, for Umpqua Bank/
    /Photo:  http://www.newscom.com/cgi-bin/prnh/20030917/SFW078LOGO
              AP Archive:  http://photoarchive.ap.org
              PRN Photo Desk, 888-776-6555 or 212-782-2840/
    /Web site:  http://www.umpquaholdingscorp.com /
    (UMPQ)

CO:  Umpqua Bank; Umpqua Holdings Corporation
ST:  Oregon
IN:  FIN REA
SU:  PDT PER




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