1 INDEPENDENT AUDITORS' CONSENT We consent to the incorporation by reference in this Registration Statement of Union Pacific Corporation and subsidiary companies ("Union Pacific") on Form S-3 of our reports dated January 21, 1993, appearing in and incorporated by reference in the Annual Report on Form 10-K of Union Pacific for the year ended December 31, 1992 and to the reference to us under the heading "Experts" in the Prospectus, which is part of this Registration Statement. /s/ Deloitte & Touche DELOITTE & TOUCHE New York, New York March 11, 1994