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U.S. Bank Corporate Payment Systems' Customer Conference Receives Rave Reviews From Attendees

Business & Transportation Editors

MINNEAPOLIS--(BUSINESS WIRE)--July 3, 2002--U.S. Bancorp (NYSE:USB)

U.S. Bank Corporate Payment Systems concluded its Financial Supply Chain Conference last month to overwhelmingly positive feedback from the event's attendees. More than 1,000 customers and prospects -- from both the commercial card and PowerTrack® side of the business -- attended the three-day conference, which featured 50 different breakout sessions, new product introductions and demonstrations, and hands-on training labs built around the conference theme: Financial Supply Chain Management.

This event was simply spectacular, said Rob Abele, president of U.S. Bank Corporate Payment Systems. This was our first opportunity to present our vision of financial supply chain management to a large audience, and from the feedback I saw and heard, I think our customers were very, very impressed. The breadth and depth of the content that we presented was greater than anything we've ever done before, and I'm very happy with our direction.

In addition to the presentations from U.S. Bank personnel, conference attendees also had opportunities to view presentations from an impressive list of industry-leading experts from companies such as Commerce One, AMR Research, Accenture, Deloitte Consulting, Ernst & Young, Microsoft and more.

This was certainly a dynamic conference, full of diversity to fulfill the expectations of any client -- large or small, said Lisa Wilson, the manager of procurement card services for the U.S. and Canadian operations of Waste Management. I expected `world class' from U.S. Bank, and I got it!

The importance of this year's conference theme, Financial Supply Chain Management, and how it can save millions of dollars for companies large and small, necessitated combining the commercial card and PowerTrack customers together in a single event.

The U.S. Bank vision for the `financial supply chain' is right on target. The bank's decision to combine previously separate Corporate Payment Systems' financial settlement offerings into one conference indicates an evolution to support that vision, said Max Peterson, vice president, public sector, for Commerce One. Our presence, and that of other solution providers, in the source-to-pay value chain demonstrates that U.S. Bank has a plan to deliver business efficiencies for its clients through integrated physical and financial supply chain offerings. We're pleased to be a partner with U.S. Bank in order to make this vision a reality for our mutual customers.

One of the key features of past U.S. Bank customer conferences has been its tradition of incorporating customers into the information flow; this year's conference was no exception. Many U.S. Bank clients were asked to lead various presentations and to share their real-life applications and best practices with one another.

Any time you can come away from a session having learned something, it has been time well spent, and I learned a lot, said Robert Todd, Waste Management's Director of Procurement for Canada.

PowerTrack is a patented business-to-business payment product provided by the Corporate Payment Systems division of U.S. Bank. Harnessing the power of the Internet, PowerTrack serves as the central communications point between buyers and sellers synchronizing physical supply chain events and the corresponding financial processes that they trigger. PowerTrack's unique electronic management tools automate the traditional paper-based payment process, which can take two or more months. PowerTrack offers customers speedier payment -- in as little as 2-3 days -- increased information flow, complete integration with enterprise logistics and accounting systems, and overall cost savings. To learn more about PowerTrack, call (800) 417-1844 or visit us on the web at www.powertrack.com.

Minneapolis-based 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 www.usbank.com and Firstar Bank at www.firstar.com.

--30--jsw/cl*

CONTACT: U.S. Bank

Teri Charest, Media Relations, 612/973-4594

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

KEYWORD: MINNESOTA

INDUSTRY KEYWORD: BANKING TRANSPORTATION

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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