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Matthew Brady Joins the U.S. Bancorp Piper Jaffray Private Advisory Services

Division

SAN FRANCISCO, Sept. 19 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper Jaffray is pleased to announce the arrival of Matthew Brady, who has joined the firm as a managing director in the private wealth management group of the brokerage division.  Brady brings over 20 years of experience to Piper Jaffray.  Prior to joining the firm, Brady was head of the family office group at Robertson Stephens, Inc. in San Francisco.  Brady will be based in the firm's San Francisco brokerage office, reporting to Doug Heske, regional director for the Private Advisory Services division.

I am thrilled to have Matt join our firm as a managing director, said Heske.  The Bay Area is an extremely important growth area for us and in his new role Matt will provide integrated strategic financial services to our clients, along with a keen ability to understand and fulfill the unique needs of individuals within the Bay Area and the entire western region.

Brady will provide integrated financial planning and consulting services to high net worth investors.  High net worth clients typically seek objective advice on a number of issues, ranging from tax and estate planning matters to investment consulting, asset protection and strategic philanthropy, said Brady.  His group will also address planning for concentrated equity positions.

Brady was a partner in the law firm of Donovan Leisure Newton & Irvine in New York, and has also been a partner of Coopers & Lybrand LLP in San Francisco and a principal at Banc of America Securities in San Francisco.  He has a bachelor's degree in politics from Princeton University, in Princeton, N.J. and a J.D. from Stanford Law School in Stanford, Calif.  Brady resides in Lafayette, Calif., with his wife, Maureen, and their two children.

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

U.S. Bancorp (NYSE: USB) is a focused securities firm comprised of three divisions:  Equity Capital Markets, Fixed Income Capital Markets and Private Advisory Services.  The firm provides a full range of investment products and services to individuals, institutions and businesses.  The firm has over 120 offices in 23 states across the country.  The Equity Capital Markets Division focuses on the needs of growth companies in the health care, technology, financial institutions, consumer and communications growth sectors.  The firm has a national reputation for its expertise in fundamental research and equity and debt financing.  The Fixed Income Capital Markets business provides bond issuers, individual investors and institutional investors expertise in investment banking, underwriting, trading, sales and research.  The firm offers innovative solutions in corporate and government debt financings with particular expertise in corporate, health care/hospitals, real estate, higher education and government debt.  The Private Advisory Services division financial advisors provide guidance in retirement planning, education planning, estate planning and wealth accumulation.  Investors select from a wide array of products, including fee-based products, stocks, bonds, mutual funds, annuities, insurance and trust services.  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. Securities products and services offered through U.S. Bancorp Piper Jaffray, Inc., member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp.  For more information on U.S. Bancorp Piper Jaffray, visit www.piperjaffray.com . Non-deposit 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.

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http://tbutton.prnewswire.com/prn/11690X37659778

SOURCE  U.S. Bancorp Piper Jaffray

    -0-                             09/19/2002

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

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

(USB)

CO:  U.S. Bancorp Piper Jaffray
ST:  California, Minnesota
IN:  FIN
SU:  PER

JA-ES
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9123 09/19/2002 13:28 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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