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U.S. Bancorp Piper Jaffray Selected by Martin-Harris Construction to Provide

401(k) Plan Administrative Services

LAS VEGAS, June 10 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper Jaffray is pleased to announce that it has been selected by Las Vegas-based Martin-Harris Construction to provide its 401(k) retirement plan administrative services.

Financial Advisors, Fred Bellero, Adam Ezrilov, and Michael Isola in the San Francisco brokerage office and Johnnie Isola in the Las Vegas brokerage office of U.S. Bancorp Piper Jaffray will be working with Martin-Harris Construction to administer their company 401(k) plan.  The team of Bellero, Ezrilov, Isola and Isola focus primarily on corporate retirement plans and private financial services.  As advisors to businesses and affluent individuals, they provide investment planning and asset management services that ultimately help clients achieve their financial goals.

All told, approximately 1,060 U.S. Bancorp Piper Jaffray financial advisors provide guidance to clients through more than 120 retail sales offices in 19 Midwest, Mountain, Southwest and Pacific states.

The Piper Jaffray team far surpassed our expectations.  The administrative-conversion process was expeditious and the online management of our funds is very user friendly, said Frank Martin, president and founder of Martin-Harris Construction.  The financial advisory team presented the program in such a way that our enrollment is up for the first time in four years!  We are very grateful for all they have done.

We are committed to serving the needs of corporate clients in Las Vegas and across the country, said Doug Heske, San Francisco Bay Area Regional Director.  Martin-Harris Construction is one of the most recent examples of many qualified retirement plans that we manage.

U.S. Bancorp Piper Jaffray, a subsidiary of Minneapolis-based

U.S. Bancorp (NYSE: USB), provides a full range of investment products and services to individuals, institutions and businesses.  Approximately 1,060 financial advisors provide investment guidance to clients through more than 120 offices in 19 Midwest, Mountain, Southwest and Pacific states.  The company also has a national reputation for its expertise in debt and equity financing for growth companies.  U.S. Bancorp offers a comprehensive range of financial solutions through U.S. Bank, U.S. Bancorp Asset Management, U.S. Bancorp Investments and U.S. Bancorp Piper Jaffray.  For more information, visit the Web site at http://www.piperjaffray.com  .

Martin-Harris Construction, a premiere general contractor, takes pride in building many of the outstanding commercial projects in the greater Las Vegas valley.  The company has been in business since 1976.  Martin-Harris was recently recognized as the number one general contractor in Nevada by Southwest Magazine, In Business Las Vegas and National Association of Industrial and Office Properties (NAIOP) and is listed in the Top 400 General Contractors by Engineering News-Review.  For more information about Martin-Harris Construction, visit http://www.martinharris.com  .

Nondeposit investment products are not insured by the FDIC, are not deposits or other obligations of or guaranteed by U.S. Bank National Association or its affiliates, and involve investment risks, including possible loss of the principal amount invested. Securities products and services are offered through U.S. Bancorp Piper Jaffray Inc., member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp.   (5/99-0679)



SOURCE  U.S. Bancorp Piper Jaffray

    -0-                             06/10/2002

/CONTACT:  Erin Freeman, Director, Public Relations of U.S. Bancorp Piper Jaffray, +1-415-277-1595/

/Web site:  http://www.martinharris.com  /

/Web site:  http://www.piperjaffray.com  /


CO:  U.S. Bancorp Piper Jaffray; Martin-Harris Construction
ST:  Nevada, Minnesota

-- MNM007 --
4758 06/10/2002 13:35 EDT http://www.prnewswire.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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