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U.S. Bancorp Lowers Prime Lending Rate

MINNEAPOLIS--(BUSINESS WIRE)--Oct. 31, 2007--U.S. Bancorp (NYSE:USB) announced it will lower its prime lending rate to 7.50 percent from 7.75 percent, effective after the close of business today, October 31, 2007, at all U.S. Bank locations.

U.S. Bancorp last announced a change in its prime lending rate on September 18, 2007, when it was decreased 50 basis points to 7.75 percent.

U.S. Bancorp, with assets of $228 billion, is the 6th largest commercial bank in the United States. The company operates 2,512 banking offices and 4,870 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com.

CONTACT: U.S. Bancorp
Steve Dale, Media, 612-303-0784
or
Judy Murphy, Analysts, 612-303-0783

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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