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U.S. Bancorp Piper Jaffray Joins Effort to End Hunger in Montana

BOZEMAN, Mont., Sept. 30 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper
Jaffray (Piper Jaffray) is proud to be a corporate sponsor of this year's Montana Food Bank Network's Fourth Annual Drive to End Hunger.  Consistent with the firm's Guiding Principles, this is the most recent example of Piper Jaffray's commitment to contributing to the communities, in which its employees and clients live and work.

The Network was started in 1983 to address the problem of hunger in Montana and to distribute food to hungry Montanans in the most efficient way possible.  The Network is the statewide nonprofit, which procures large scale donations from national and regional sources then distributes food in more manageable allotments in proportion to the needs of 133 hunger agencies across the entire state -- in all 56 counties and all 7 reservations.  The Network shipped 2.5 million pounds of food to agencies last year.

Piper Jaffray takes an active role in supporting The Network, based on the organization's impressive efforts to end hunger in Montana and make a difference in the lives of many individuals and families, said Joe Manfredi, Piper Jaffray district manager.  To further support the drive, our employees will be volunteering their time in local malls during the holidays to sell raffle tickets.  Tickets will also be available in every Piper Jaffray office in the state.

According to the most recent Montana census:

-- 135,691 (16 percent) of all Montanans live below the national poverty

level;

-- 49,055 (21 percent) of all Montana children live below the poverty

level;

-- 50 percent of all female-headed families with children under the age of

18 live below the poverty level;

-- 67 percent of female-headed families with children under 5 live below

the poverty level;

-- 85 percent of poor families with children have at least one member

working.

The Network is able to take advantage of economies of scale, thereby leveraging its food purchase dollars, as well as those of the local agencies it serves.  The Network, because of the way it can acquire food, can often convert a $10 donation to as much as $100 worth of food.  The Network does not compete with community-based hunger agencies.  Its mandate is to supplement these agencies with nutritious foods not always available through local donations.

For more information on the Montana Food Bank Network contact Mark Brennan at (406) 721-3825 or www.montanafoodbanknetwork.org .

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/11690X89648814

SOURCE  U.S. Bancorp Piper Jaffray

    -0-                             09/30/2002

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

/Web site:  http://www.montanafoodbanknetwork.org  /

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

(USB)

CO:  U.S. Bancorp Piper Jaffray; Montana Food Bank Network
ST:  Montana, Minnesota
IN:  FIN FOD
SU:  NPT

JA-CK
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2628 09/30/2002 11:29 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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