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U.S. Bank Selected to Provide Purchasing Cards to U.S. Department of Transportation

WASHINGTON & MINNEAPOLIS--(BUSINESS WIRE)--Dec. 12, 2007--The U.S. Department of Transportation has selected U.S. Bank, lead bank of U.S. Bancorp (NYSE:USB), to provide purchasing cards under the new General Services Administration (GSA) SmartPay 2 contract. U.S. Bank is the first issuer to be awarded a tailored task order from a federal agency under GSA SmartPay 2, which was issued in June and takes effect November 30, 2008.

The Department of Transportation has been a U.S. Bank client for the past four years under the current GSA SmartPay contract. "We are delighted to keep this important agency as a client," said Doug Ichiuji, senior vice president and head of government services for U.S. Bank Corporate Payment Systems. "Our partnership has been strong and innovative. We hope that this is the first of many federal government agencies to choose U.S. Bank."

Under the GSA SmartPay 2 contract, each government agency issues a task order to solicit proposals from the four card issuers who qualified for a contract under GSA SmartPay 2. U.S. Bank has served federal agencies since the inception of the purchase card program in 1986, making it the single most experienced payment provider to the federal government. 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 current GSA SmartPay program, which ends in 2008.

U.S. Bank offers 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.

U.S. Bancorp, with $228 billion in assets, is the parent company of U.S. Bank, 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. Visit U.S. Bancorp on the web at www.usbank.com.

Teri Charest, Media Relations, 612-303-0732


"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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