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U.S. Bank Signs Two California Real Estate Companies

Business & Real Estate Editors

SANTA MONICA, Calif.--(BUSINESS WIRE)--Sept. 6, 2002--U.S. Bancorp (NYSE:USB)

U.S. Bank has recently added two prominent California real estate companies to its list of distinguished commercial banking customers. The companies are R.W. Selby and Company, Inc. in Los Angeles and Kennedy-Wilson International in Beverly Hills.

R.W. Selby and Company, Inc., which specializes in southern California multifamily investment, repositioning and property management, will receive cash management services on its deposit accounts and a corporate line of credit from U.S. Bank.

Kennedy-Wilson International, an integrated real estate company that specializes in property acquisition, property management, leasing, brokerage and auctions, will utilize U.S. Bank's cash management and credit services.

We're honored to serve these companies and others in the real estate industry in California, said Dave Rainer, president of U.S. Bank in California. Our ability to call these companies clients really punctuates our commitment to growing in southern California and contributing to the economic success of this region.

Gary Kasper, senior vice president of commercial banking and a recent addition to the U.S. Bank team, is the banking manager of these relationships. For more information about the commercial banking services provided by U.S. Bank or to reach Kasper call (310) 315-3388.

Minneapolis-based U.S. Bancorp (NYSE:USB), with assets in excess of $173 billion, is the 8th largest financial services holding company in the United States. The company operates 2,131 banking offices and 4,818 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 U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com.

--30--jsw/cl*

CONTACT: U.S. Bank Media Relations

Teri Charest, 612/303-0732

KEYWORD: MINNESOTA CALIFORNIA

INDUSTRY KEYWORD: BANKING REAL ESTATE BUILDING/CONSTRUCTION

SOURCE: U.S. Bank

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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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