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U.S. Bancorp Foundation Awards Twin Cities Area Arts & Cultural Organizations $600,000+

MINNEAPOLIS--(BUSINESS WIRE)--June 26, 2002--Twenty-six arts and cultural non-profit organizations in the Twin Cities are receiving more than $600,000 in contributions from the U.S. Bancorp Foundation.

Arts and cultural organizations make a major contribution to our community and quality of life, said John Murphy, Minnesota State Chairman, U.S. Bank. U.S. Bank values the work of these fine organizations and is proud to support them.

The U.S. Bancorp Foundation is contributing a total of $647,500 in grants to the following nonprofits:

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American Composers Forum           Children's Theatre Company
COMPAS, Inc.                       The Dale Warland Singers
Guthrie Theater and Foundation     Illusion Theater
Jungle Theater                     The Loft Literary Center
MacPhail Center for the Arts       Minneapolis Institute of Arts
Minnesota Children's Museum        Minnesota News Council
Minnesota Opera Company            Minnesota Orchestral Association
Minnesota Public Radio             Minnesota Zoo Foundation
Northern Clay Center               Saint Paul Chamber Orchestra
Schubert Club                      Science Museum of Minnesota
Stepping Stone Theatre for         Ten Thousand Things Theater Company
  Youth Development                Theatre De La Jeune Lune

Twin Cities Public Television      Walker Art Center
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U.S. Bancorp (NYSE:USB), 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--cmm/cl*

CONTACT: U.S. Bancorp

Amy Frantti, 612/973-2431

amy.frantti@usbank.com

KEYWORD: MINNESOTA

INDUSTRY KEYWORD: BANKING MUSIC ENTERTAINMENT TELEVISION/RADIO

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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