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U.S. Bank to Accept State of California Registered Warrants

MINNEAPOLIS--(BUSINESS WIRE)--Jul. 2, 2009-- U.S. Bank, N.A., will accept from current customers registered warrants issued by the State of California for a limited time starting on July 2, 2009 and ending no later than July 10, 2009. The warrants will only be accepted for deposit into a U.S. Bank account. U.S. Bank has 559 offices throughout California.

“These are unprecedented times that require extraordinary support for our customers. As a result of these circumstances, we will accept these registered warrants for a limited time with the expectation that the state’s budget issues are resolved in the near future,” said Joseph Otting, vice chairman of commercial banking at U.S. Bancorp who is based in Los Angeles.

This accommodation for clients will not include correspondent banks, money service businesses or any client engaged in purchasing or consolidating registered warrants for deposit.

U.S. Bank is the 6th largest bank in California by deposits, and 4th largest by branches.

U.S. Bancorp (NYSE: USB), with $264 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,847 banking offices and 5,183 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, 612-303-0784
or
Teri Charest, 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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