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Verizon Communications Chooses U.S. Bank Voyager Fleet Systems to Provide Fleet Fuel Credit Card Purchasing

MINNEAPOLIS--(BUSINESS WIRE)--May 23, 2002--Verizon Communications (NYSE:VZ) has selected Voyager Fleet Systems to provide the corporation with a state-of-the-art fleet fuel credit card purchasing system. The program, which will be rolled out by the end of the year, calls for Voyager Fleet Systems Inc., a wholly owned subsidiary of U.S. Bank, to provide the fleet card issuance, billing, payment processing, customer relations and detailed transaction reporting services. U.S. Bank is a subsidiary of U.S. Bancorp (NYSE:USB).

Providing Verizon with an unmatched level of reporting and security capabilities, Voyager Fleet Systems will capture all of the pertinent details at each transaction including: date, time, location, product type, grade, quantity and costs. The detail is compiled and provided so that the transaction reports can be used to aid in Verizon's fleet management, and to negotiate discounts where appropriate.

The Voyager card is accepted at more than 165,000 retail locations in all 50 states and provides comprehensive fleet management information services to commercial businesses and government agencies. Voyager offers comprehensive data reporting and card tracking features that allow fleet executives to better manage their fleets. Additional information can be found at Voyager's website at voyagerfleet.com.

Minneapolis-based U.S. Bancorp, with assets in excess of
$165 billion, is the 8th largest financial services holding company in the United States. The company operates 2,147 banking offices and 4,929 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 is home of the Five Star Service Guarantee which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience. U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank. Visit U.S. Bancorp on the web at usbank.com and Firstar Bank at firstar.com.

--30--kmr/clv*

CONTACT: U.S. Bancorp

Teri Charest, Media Relations, 612/973-4594

Dan Endy, Corporate Payment Systems, 612/973-6901

KEYWORD: MINNESOTA

INDUSTRY KEYWORD: BANKING TELECOMMUNICATIONS RETAIL

SOURCE: U.S. Bancorp

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"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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