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U.S. Bancorp Investments, Inc., and U.S. Bancorp Insurance Services, LLC Names Bill Benjamin New Leader

MINNEAPOLIS--(BUSINESS WIRE)--July 14, 2008--William "Bill" Benjamin has been named chief executive officer of U.S. Bancorp Investments, Inc., and U.S. Bancorp Insurance Services, LLC. He reports directly to Mark Jordahl, president of the U.S. Bank Wealth Management Group.

"Bill brings 25 years of wealth management and sales experience to U.S. Bancorp," said Jordahl. "His experience will be instrumental in growing our brokerage and insurance businesses, and providing strategic direction and leadership across the 24-state footprint."

Benjamin has held senior wealth management positions at UBS Financial Services and Piper Jaffray. Prior to joining Piper Jaffray, Benjamin spent several years at IBM in client-facing positions. Most recently, he was co-head of the project office responsible for reorganizing UBS' wealth management business in the United States.

Benjamin is an active member of the community as president of the Edina Baseball Association's board of directors. He is also a youth baseball coach. He is also a past member of the Hobey Baker and Edina Soccer Club boards of directors.

Benjamin earned a bachelor's degree from St. Olaf College in Northfield, Minn., and an MBA from the University of Minnesota Carlson School of Management in Minneapolis. He works at U.S. Bancorp's corporate headquarters in downtown Minneapolis, and lives in the Twin Cities area with his wife and their three children.

Investment products and services are available through U.S. Bancorp Investments, Inc., member FINRA and SIPC, an investment advisor and a brokerage subsidiary of U.S. Bancorp and an affiliate of U.S. Bank.

Insurance products, including annuities, are available through U.S. Bancorp Insurance Services, LLC, U.S. Bancorp Investments, Inc., U.S. Bancorp Insurance Services of Montana, Inc., (in MT) and U.S. Bancorp Insurance & Investments, Inc. (in WY). All are licensed insurance agencies and subsidiaries of U.S. Bancorp and affiliates of U.S. Bank. U.S. Bank is not responsible for and does not guarantee the products, services or performance of U.S. Bancorp Insurance Services, LLC, U.S. Bancorp Investments, Inc., U.S. Bancorp Insurance Services of Montana, Inc., (in MT) and U.S. Bancorp Insurance & Investments, Inc. (in WY). Policies are underwritten by unaffiliated insurance companies and may not be available in all states.

U.S. Bancorp (NYSE: USB), with $242 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,522 banking offices and 4,844 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, and trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.

Not a Deposit  Not FDIC Insured Not Guaranteed by the Bank
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May Lose Value Not Insured by Any Federal Government Agency
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Note to editors: a digital photo of William "Bill" Benjamin is available; contact Amy Frantti.

CONTACT: U.S. Bancorp
Media Relations
Amy Frantti, 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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