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U.S. Bank Opens Foreign Exchange Center in Chicago Available 24/6 for World Market Coverage

CHICAGO--(BUSINESS WIRE)--Sept. 25, 2007--U.S. Bank announced today that it will relocate its wholesale foreign exchange trading desk to Chicago from its current Minneapolis location on October 1, 2007 and will be available for customers 24 hours a day, 6 days a week when the world markets are open by calling 866-447-3166.

"When the markets are open around the world, we will be here around the clock to assist our customers with their foreign exchange needs," said Peter J. Thompson, senior vice president of U.S. Bank's Foreign Exchange Department. He added that U.S. Bank recruited locally from the broad base of talented financial professionals to hire additional staff for its new Chicago center, which will be located at 550 West Washington Boulevard, not far from U.S. Bank's regional headquarters in the Rookery Building at 209 S. LaSalle.

Daniel H. Reisner, U.S. Bank Chicago region president, added, "Relocating our global foreign exchange activities to Chicago is emblematic of both U.S. Bank's growth worldwide and to our ongoing commitment to the vibrance of the Chicagoland region."

U.S. Bank currently operates eight foreign exchange centers in Chicago, Minneapolis, Milwaukee, St. Louis, Cincinnati, Seattle, Portland and Los Angeles.

U.S. Bank has 50 full-service branches in the Chicago area and each offers a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Minneapolis-based U.S. Bancorp (NYSE:USB), with $223 billion in assets, is the parent company of U.S. Bank, the sixth largest commercial bank in the United States. The company operates 2,499 banking offices and 4,867 ATMs throughout America. Visit U.S. Bancorp on the web at www.usbank.com.

Lisa Clark, 608-877-7517


"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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