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U.S. Bank Among Few Selected for Federal Government Payment Program

WASHINGTON--(BUSINESS WIRE)--June 7, 2007--U.S. Bank Government Services announced today that it is one of four issuers selected to participate in the General Services Administration (GSA) SmartPay(R) 2 program for commercial charge cards and related payment services.

U.S. Bank will offer travel, purchasing, fleet, and integrated payment products, as well as technologies such as the industry leading Access Online program management tool and PowerTrack, an electronic invoice payment and presentment tool used by the Department of Defense and other government agencies.

"We are pleased to be one of the few issuers selected to participate," said Robert T. Abele, president of U.S. Bank Corporate Payment Systems, the division in charge of payment programs. "This will be the beginning of our third decade providing payment solutions to government. We are committed to excelling in this market."

U.S. Bank is the single most experienced payment provider to federal government. It has served federal agencies since the inception of the purchase card program in 1986. It was the sole provider of purchase cards during the International Merchant Purchase Authorization Card (I.M.P.A.C.) program from 1988 to 1998, and is one of several providers participating in the first GSA SmartPay program, which ends in 2008.

"This long history of partnership has been very beneficial to both parties. It is a great honor to be trusted by our nation's government. We take the responsibility seriously and will continue to provide high quality products and services with the integrity and efficiency that the government has come to expect from us," said Abele.

After that date, each individual government agency will entertain proposals from the four selected issuers, choosing the issuer that best meets their needs. The exact date of the kickoff conference has not been scheduled. It will be held sometime in July.

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 Media Relations
             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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