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U.S. Bancorp Declares Series E Preferred Stock Dividend

MINNEAPOLIS--(BUSINESS WIRE)--Jan. 27, 2009--The board of directors of U.S. Bancorp (NYSE: USB) has declared a cash dividend of $12.63888889 per share on its Series E Fixed-Rate Cumulative Perpetual Preferred Stock. This preferred dividend is payable on February 17, 2009, to the shareholder of record as of January 31, 2009. This is the first quarterly dividend payment to the U.S. Department of the Treasury, the shareholder of record, on the preferred stock issued to it by U.S. Bancorp under the Capital Purchase Program of the government's Troubled Asset Relief Program (TARP).

U.S. Bancorp, with $266 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States as of September 30, 2008. The company operates 2,791 banking offices and 5,164 ATMs in 24 states, 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 usbank.com.

CONTACT: U.S. Bancorp
Steve Dale (Media), 612-303-0784
Judith T. 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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