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U.S. Bancorp Names Ken Nelson Corporate Treasurer

MINNEAPOLIS--(BUSINESS WIRE)--March 25, 2008--U.S. Bancorp (NYSE: USB) has named Kenneth D. Nelson to the position of executive vice president and corporate treasurer, effective immediately. He has been serving as interim treasurer since late December 2007.

"Ken's experience and knowledge make him the best choice for the treasurer position," said Andrew Cecere, chief financial officer at U.S. Bancorp. "This promotion is well deserved, and I look forward to working with him in this important corporate leadership role."

Nelson, 55, was selected following a national search and evaluation of both external and internal candidates. He has been with U.S. Bancorp since 1984, most recently as senior vice president of the money center and the funding and derivatives group within the treasury department.

Nelson earned his bachelor's degree in business administration and economics from Mankato State University and his MBA from the University of St. Thomas. He resides in Minneapolis.

U.S. Bancorp, with $238 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,518 banking offices and 4,867 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
Teri Charest (Media), 612-303-0732
Steve Dale (Media), 612-303-0784
Judith 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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