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U.S. Bancorp Piper Jaffray Promotes Tad W. Piper to Senior Software Applications Research Analyst

MENLO PARK, Calif., July 24 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper Jaffray (Piper Jaffray) is pleased to announce that Tad W. Piper has been promoted to vice president and senior research analyst, covering the software applications sector. He has been with U.S. Bancorp Piper Jaffray for three and a half years, most recently as a research analyst covering infrastructure software companies. He is based in the firm's Menlo Park, Calif., office.

"We are delighted to promote Tad to the senior research analyst role," said Robert W. Peterson, head of Equity Capital Markets Research Department. "Tad's sharp understanding of the software applications sector, coupled with his broad experience within the financial services industry, make him highly suited for the position. I have no doubt that he will continue to produce insightful and prescient research for our clients going forward."

Prior to joining Piper Jaffray in 1999, Piper was an investment manager and proprietary trader for Cargill Financial Services Asia in Singapore. From 1994 to 1997, he was an investment manager for Edinburgh Fund Managers in Edinburgh, Scotland. Piper holds a bachelor of arts degree in political-economy from Williams College in Williamstown, Mass. In addition, he holds the Chartered Financial Analyst designation.

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 businesses, institutions and individuals. The company's investment banking business has grown significantly in the last several years by focusing on the needs of growth companies in the health care, technology, financial institutions, consumer and communications growth sectors. U.S. Bancorp Piper Jaffray has a national reputation for its expertise in fundamental research and equity and debt financing. 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.

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)
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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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