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U.S. Bank and Kroger Help Shoppers Earn Free Groceries, Fuel Discounts and More with Rewards Cards

MINNEAPOLIS & CINCINNATI, Oct 25, 2010 (BUSINESS WIRE) --

U.S. Bank, lead bank of U.S. Bancorp (NYSE: USB) and The Kroger Co. (NYSE: KR) today announced that U.S. Bank will issue credit cards and reloadable prepaid debit cards with rewards to help Kroger customers save money on groceries and fuel.

Customers who shop at Kroger's family of stores - including Ralphs, Fred Meyer, Fry's, King Soopers, Dillons, QFC and City Market - will earn free groceries and fuel discounts with every purchase when they use their 1-2-3 REWARDS(R) MasterCard(R), Fred Meyer Rewards(R) MasterCard(R), Ralphs rewards plus MasterCard(R), or Visa(R) prepaid debit card with 1-2-3 REWARDS(R) from U.S. Bank. Offering this suite of Rewards cards is the next step in a long-standing strategic alliance between U.S. Bank and Kroger.

Beginning Nov. 8, existing cardholders' accounts will transfer to U.S. Bank, which gives Kroger customers access to new benefits like mobile banking and 24-hour customer service.

"This is an exciting milestone for U.S. Bank, and we're confident the card program will offer Kroger's loyal customers more value by rewarding them every time they shop - whether it's inside one of their nearly 2,500 supermarkets or for everyday purchases," said Cliff Cook, chief marketing officer for U.S. Bank Retail Payment Solutions.

Cardholders who make purchases using their rewards card automatically earn points toward reward certificates for free groceries. Every dollar spent earns rewards points, with double points earned for purchases made in Kroger's family of stores and triple points for buying store-brand products. Additionally, cardholders may earn an extra five-cents-per-gallon discount on fuel purchases at participating Kroger-operated fuel centers.

"Kroger is thrilled to partner with U.S. Bank to offer an exciting suite of rewards cards that help Kroger customers to earn free groceries and fuel discounts," said Kathy Kelly, president of Kroger Personal Finance. "U.S. Bank shares our commitment to listening to customers and offering the right financial products that reward them for their loyalty."

Visit www.krogerpersonalfinance.com for more details about the entire suite of cards.

U.S. Bank's extensive financial services relationship with Kroger, the nation's largest traditional grocery retailer, began in 1930. U.S. Bank currently provides a number of retail, corporate banking, trust, capital markets and credit services for Kroger. Kroger has nearly 2,500 locations operating under several brand names and U.S. Bank operates bank branches in 191 of those locations through an in-store banking relationship.

About Kroger Personal Finance

Kroger Personal Finance(R) (KPF) offers customers convenient, affordable personal finance products and services from preferred providers. These include credit cards, gift and prepaid cards, insurance, ID theft protection and in-store money services such as check cashing, Coinstar(R) and Western Union(R). Information on KPF products and services is available in the nearly 2,500 stores Kroger operates under two dozen local banner names including Kroger, Ralphs, Fred Meyer, Fry's, King Soopers, Smith's, Dillons, QFC and City Market. For more information about Kroger Personal Finance, visit www.krogerpersonalfinance.com.

About Kroger

Kroger, the nation's largest traditional grocery retailer, employs more than 334,000 associates who serve customers in 2,468 supermarkets and multi-department stores in 31 states under two dozen local banner names including Kroger, City Market, Dillons, Jay C, Food 4 Less, Fred Meyer, Fry's, King Soopers, QFC, Ralphs and Smith's. The company also operates 777 convenience stores, 374 fine jewelry stores, 893 supermarket fuel centers and 40 food processing plants in the United States. Kroger, headquartered in Cincinnati, focuses its charitable efforts on supporting hunger relief, health and wellness initiatives, and local organizations in the communities it serves. For more information about Kroger, please visit www.kroger.com.

About U.S. Bancorp

U.S. Bancorp, with $291 billion in assets as of Sept. 30, 2010, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,013 banking offices in 24 states and 5,323 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.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6481328&lang=en

SOURCE: U.S. Bank and The Kroger Co.

U.S. Bank
Teri Charest, Media Relations, 612-303-0732
teri.charest@usbank.com
or
Kroger
Denise Osterhues, Media Relations, 513-762-1304
denise.osterhues@kroger.com
"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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