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U.S. Bank Selected as Indenture Trustee for John Deere Owner Trust 2007

MINNEAPOLIS--(BUSINESS WIRE)--June 28, 2007--U.S. Bank today announced that Deere & Company has selected the bank as indenture trustee for its asset-backed note financing supported primarily by agricultural and construction retail installment sale and loan contracts secured by new and used agricultural, construction and forestry equipment. In its role as indenture trustee for the $1,000,800,000 John Deere Owner Trust 2007, U.S. Bank will be responsible for compliance oversight, noteholder communication and processing of interest and principal payments.

The Servicer, John Deere Capital Corporation, is a wholly owned finance subsidiary of John Deere. It primarily provides financing for John Deere equipment sold through John Deere dealers. Headquartered in Moline, Ill., Deere & Company is the world's leading provider of advanced products and services for agriculture and forestry and a major provider of advanced products and services for construction, lawn and turf care, landscaping and irrigation.

"U.S. Bank is pleased to be chosen as indenture trustee for John Deere and to expand our relationship with a successful market leader," said Bryan Calder, president of U.S. Bank Corporate Trust Services. "We are well-suited to meet the detailed trust needs this transaction requires and to provide the excellent customer service that a quality organization such as John Deere expects."

U.S. Bank Corporate Trust Services is one of the nation's largest providers of corporate trust services, administering a diverse portfolio of more than 81,000 bond issues representing more than $2.5 trillion in outstanding municipal, corporate, asset-backed and international securities.

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. Bancorp
             Amy Frantti, Media Relations, 612-303-0733

    SOURCE: U.S. Bancorp
"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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