Union Bank of California signs to GlobeTax’s market reference data service

New York - 5 September 2007

San Francisco based custodian Union Bank of California, N.A. is the latest financial firm to sign up to e-TaxData Online, GlobeTax’s searchable, on-line tax rate reference data base.

Mike Daly, Vice President of Compliance and Risk Management, of Union Bank said, “As a custodian with global reach we need to have the best tax information available. Our policy is to corroborate data from multiple sources to ensure high quality because this is the basis for helping our clients optimize their tax positions on foreign investments. We currently use our global agent bank network. However, we wanted to add a very flexible way to validate data centrally across many investment markets for our entire range of investor types. e-TaxData Online gives us precisely that flexibility.” Len Lipton, VP Marketing for GlobeTax said, “Union Bank is one of a number of custodians and fund managers who have subscribed to e-TaxData Online and we expect several more in the coming months.”

e-TaxData Online is an online searchable tax reference database. Searches can be made based a selection of variables including country of residence of investor, country of investment, year of income receipt and type of investor. Results of searches include statutory tax rates, treaty rates, statutes of limitation on claims, market average recovery times and market tax notes. The product also includes on-line tools for assessing the tax effects on investment income directly.

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