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U.S. Bank Selected as Indenture Trustee for TALF Eligible Nissan Auto Receivables 2009-A Owner Trust

MINNEAPOLIS--(BUSINESS WIRE)--Apr. 2, 2009-- U.S. Bank today announced that Nissan Motor Acceptance Corporation selected the bank as indenture trustee for its asset-backed note financing, supported primarily by a pool of motor vehicle retail installment contracts. In its role as indenture trustee for the $1.369 billion Nissan Auto Receivables 2009-A Owner Trust, U.S. Bank will be responsible for compliance oversight, noteholder communication and distributing interest and principal payments to investors.

The servicer, Nissan Motor Acceptance Corporation, headquartered in Nashville, Tenn., is an indirect wholly-owned subsidiary of Nissan Motor Co., Ltd. They primarily provide indirect automotive consumer loan and lease financing and direct dealer financing through, and to, Nissan and Infiniti dealers in the United States. Headquartered in Tokyo, Japan, Nissan Motor Co., Ltd. is involved in the manufacturing, sales and related business of automotive products, industrial machinery and marine equipment.

Nissan is one of the first issuers to apply for eligibility under the Treasury’s Term Asset Backed Securities Loan Facility (TALF) and the first to issue debt under the program. The TALF program was designed to encourage the issuance of asset backed securities thereby increasing the availability of funds available for consumer lending. Bryan Calder, president of U.S. Bank Corporate Trust Services, said, “We believe other issuers will begin to take advantage of TALF and feel that U.S. Bank is well positioned to deliver the high quality services this type of financing demands.”

U.S. Bank Corporate Trust Services is one of the nation’s largest providers of corporate trust services, administering a diverse portfolio of more than 667,000 bondholders and more than 121,000 client issues representing more than $2.1 trillion in outstanding municipal, corporate, asset-backed and international securities.

U.S. Bancorp (NYSE:USB), with $266 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. 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.

Source: U.S. Bank

U.S. Bank
Steve Dale, Media Relations, 612-303-0784

"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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