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U.S. Bank and AviancaTaca Launch New LifeMiles Credit Cards as Part of Renewed Loyalty Program


U.S. Bank, the fifth-largest bank in the United States, has partnered with Avianca and TACA Airlines to offer a new suite of LifeMiles Visa credit cards as part of a renewed and integrated loyalty program. LifeMiles Visa Signature(R), LifeMilesVisa(R) and LifeMilesVisa(R) Securedcardmembers can earn valuable LifeMiles with every credit card purchase and redeem them for reward travel on Avianca, TACA and their airline partners. The program provides LifeMiles members, including the several hundred thousand in the United States, an opportunity to dramatically accelerate the rate in which they earn credit.

"With the integration of Avianca and TACA Airlines, the combined credit card and loyalty program offer their customers a wide network to earn LifeMiles faster with more valuable redemption options. We welcome Avianca into the U.S. Bank family and look forward to enhancing our relationship with TACA Airlines through the LifeMiles program," said Cliff Cook, chief marketing officer of U.S. Bank Retail Payment Solutions.

The LifeMiles Visa Credit Card program has a card for all types of Avianca and TACA passengers, from the affluent to those looking to establish credit in the United States. LifeMiles Visa Signature customers earn a 20,000 LifeMiles first use bonus, double LifeMiles on Avianca and TACA Airlines tickets purchases and 6,000 renewal bonus LifeMiles. The LifeMiles Visa Card offers a 15,000 first use bonus and a 3,000 LifeMile renewal bonus. For passengers needing to build credit in the U.S., the LifeMiles Visa Secured is the perfect solution with the opportunity to earn LifeMiles towards reward travel. All three cards offer one (1) LifeMile for every dollar spent in purchases on the card with no fee for the first year.

"These new credit cards reflect the positive impacts of the AviancaTaca merger for our customers. The integration of AviancaPlus and DISTANCIA into one, new and improved frequent flyer program (LifeMiles) facilitates that, together with U.S. Bank, we can offer just one credit card to all of AviancaTaca's customers living in the United States, bringing them miles closer to their next visit to family and friends in Latin America with each dollar they spend," said Matthew Vincett, vice president, LifeMiles loyalty program. "The LifeMiles Visa is the only credit card available to U.S. residents that awards LifeMiles."

DISTANCIA Visa credit cards will continue to be valid until the expiration date or when cards are replaced with a new LifeMiles Visa card. All accumulated DISTANCIA mileage will be transferred to the unified and improved LifeMiles loyalty program.

U.S. Bank has partnered with the airline industry with more than 30 years issuing, processing and acquiring of consumer, business and corporate cards for more than 40 airlines.

About Avianca and TACA Airlines

Avianca and TACA airlines fly to nine major metropolitan areas in the United States: New York, Miami, Washington, D.C., Los Angeles, San Francisco, Chicago, Dallas, and Houston and Orlando. Combined, Avianca, based in Colombia and TACA Airlines, based in El Salvador, fly to more than 100 destinations in the Americas, the Caribbean and Europe, including daily flights to eight of the largest cities in the United States and Toronto, Canada, with hubs in Colombia, El Salvador, Peru and Costa Rica. To learn more, visit avianca.com and taca.com.

About U.S. Bank

Minneapolis-based U.S. Bancorp (NYSE: USB), with $311 billion in assets as of March 31, 2011, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,082 banking offices in 25 states and 5,238 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.

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U.S. Bank Media Relations
Teri Charest, 612-303-0732
Claudia Arenas, +502-2279-5700 (Guatemala)
"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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