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U.S. Bank and Korean Air Celebrate Five Years of SKYPASS Visa(R)

LOS ANGELES--(BUSINESS WIRE)--May 23, 2007--U.S. Bank and Korean Air are celebrating the fifth anniversary of the introduction of SKYPASS Visa(R) with a special sweepstakes that runs through Sept. 30, 2007.

The sweepstakes offers a chance to win one of four first prizes of 50,000 SKYPASS miles or the grand prize of two round-trip business class tickets from the United States to a Korean Air destination and a $10,000 U.S. Bank Gift Card. Current SKYPASS Visa cardmembers will be automatically entered once for every $1 they spend on the card in net purchases. No purchase is necessary. For details, see the official rules available at www.skypassvisa.com/goodfortune.

U.S. Bank and Korean Air will also offer new cardmembers bonus miles when they make their first purchase using their SKYPASS Visa. Available SKYPASS Visa cards include: SKYPASS Visa Signature, SKYPASS Visa No Annual Fee, SKYPASS Visa Classic and SKYPASS Visa Secured for personal needs; and SKYPASS Visa Business and SKYPASS Visa Company cards for business needs.

The SKYPASS Visa allows customers to earn miles for net purchases charged with no cap on the miles earned and their miles never expire. The accumulated SKYPASS miles are combined with their Korean Air flight miles and can be redeemed for free travel rewards on Korean Air and SkyTeam partners or for free upgrades on Korean Air flights. For more information on SKYPASS Visa visit www.skypassvisa.com.

The SKYPASS Visa partner, Korean Air, has a fleet of 122 aircraft and is one of the world's top 20 airlines, operating almost 400 flights per day to 112 cities in 36 countries. Korean Air is a founding member of SkyTeam, the global alliance partnering: AEROFLOT, AeroMexico, Air France, Alitalia, Continental Airlines, CSA Czech Airlines, Delta Air Lines, KLM Royal Dutch Airlines and Northwest Airlines. Korean Air has won the coveted "Phoenix Award" from Air Transport World (ATW) for successfully overcoming challenges faced by major growing airlines in the global airline industry. Korean Air flies the world's largest commercial airline cargo operation. Visit Korean Air on the web at www.koreanair.com.

U.S. Bancorp (NYSE:USB), with $221 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,498 banking offices and 4,837 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.


    CONTACT: U.S. Bank
             Teri Charest, 612-303-0732

    SOURCE: U.S. Bank
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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