• Umpqua Holdings Corporation
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  • Umpqua Holdings Announces Expansion of Stock Repurchase Program
    Company Release - 06/08/2005 08:00

    PORTLAND, Ore., June 8 /PRNewswire-FirstCall/ -- Umpqua Holdings Corporation (Nasdaq: UMPQ), parent company of Umpqua Bank and Strand, Atkinson, Williams & York, Inc., today announced that its Board of Directors has approved an amendment to its current stock repurchase program. The amendment increases the number of common shares that may be repurchased under the program from 1.5 million to 2.5 million shares. Under the amendment, the repurchase authorization is now set to expire June 30, 2007. The amendment does not specify the timing of purchases or the prices to be paid.

    Prior to May 31, 2005, the Company repurchased a total of 414,482 shares of common stock under the existing share repurchase program. Therefore, the Company may repurchase an additional 2,085,518 shares of common stock under the plan, as amended.

    About Umpqua Holdings Corporation

    Umpqua Holdings Corporation is the parent company of Umpqua Bank, an Oregon based community bank recognized for its entrepreneurial approach, innovative use of technology, and distinctive banking solutions. Umpqua Bank has 93 locations between Sacramento, Calif. and Bellevue, Wash., along the Oregon and Northern California Coast and in Central Oregon. In 2004, Umpqua Bank launched the Connect Volunteer Network, an innovative, paid volunteer program focused on youth and education. Bank associates volunteered at more than 100 organizations in the program's first year. Umpqua Holdings also owns retail brokerage subsidiary Strand, Atkinson, Williams & York, Inc., which has locations in Umpqua Bank stores and in dedicated offices throughout Oregon and Southwest Washington. Umpqua Bank's Private Client Services Division provides tailored financial services and products to individual customers. Umpqua Holdings Corporation is headquartered in Portland, Oregon. For more information, visit www.umpquaholdingscorp.com.

    This press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to shareholders. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to certain risk factors, including those set forth from time to time in the company's filings with the SEC. You should not place undue reliance on forward-looking statements and we undertake no obligation to update any such statements. Specific risks in this press release include the fact that there can be no assurance that the company will repurchase any shares nor is there any assurance as to the timing, amount or cost of any repurchases.

    SOURCE  Umpqua Holdings Corporation
        -0-                             06/08/2005
        /CONTACT:  Ray Davis, President & CEO, +1-503-727-4101, or
    raydavis@umpquabank.com, or Dan Sullivan, EVP & CFO, +1-503-727-4103, or
    dansullivan@umpquabank.com, both of Umpqua Holdings Corporation/
        /Photo:  http://www.newscom.com/cgi-bin/prnh/20030917/SFW078LOGO
                  AP Archive:  http://photoarchive.ap.org
                  PRN Photo Desk photodesk@prnewswire.com/
        /Web site:  http://www.umpquaholdingscorp.com/
    CO:  Umpqua Holdings Corporation
    ST:  Oregon
    IN:  FIN
    SU:  ACC
    -- SFW037 --
    9591 06/08/200508:00 EDThttp://www.prnewswire.com