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Five Star Parking Chooses U.S. Bank, Home of the Five Star Service Guarantee

SAN DIEGO, Jan 13, 2003 (BUSINESS WIRE) -- Five Star Parking, an operator of parking lots nationwide, has chosen U.S. Bank, home of the exclusive Five Star Service Guarantee, to provide deposit and treasury management services to its San Diego operation.

Five Star Parking is the fifth-largest parking company in America and the second largest in San Diego. Founded in Los Angeles in 1981, the company began operations in San Diego in 1992 and has grown at a record pace locally to include 57 locations, 500 employees and more than $11 million in annual revenues. Major locations include the Las Americas Factory Outlet, Park Shuttle & Fly, Parking Place, City Front Terrace and Columbia Garage.

Five Star Parking provides five key business services: parking management, hotel and residential valet, land acquisition, development consulting and parking garage development. Notable locations nationally include LAX, LaGuardia and JFK airports, the Academy Awards, Music Center, Disney Center and more.

"Making the move to U.S. Bank has been a smooth transition for us," said Paul Chacon, general partner, Five Star Parking. "For the past ten years we banked at another institution in downtown San Diego and never realized there was so much more that we could expect from our banker. At U.S. Bank, we've been welcomed enthusiastically and treated like we're the biggest parking operator in the region."

"We're pleased to have among our clients those who share our commitment to providing customers with 'five star service' be it in parking facilities or the financial services industry," said Josephine Bennett, vice president of commercial banking at U.S. Bank. "We look forward to providing them with the same high-quality service, backed by our exclusive Five Star Service Guarantee, as they provide to their clients."

U.S. Bancorp (NYSE:USB), with assets in excess of $174 billion, is the 8th largest financial services holding company in the United States. The company operates 2,133 banking offices and 4,680 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 usbank.com.

CONTACT:          U.S. Bank Media Relations
                  Teri Charest, 612/303-0732

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SOURCE: U.S. Bank

"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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