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Mark Schoenebaum Joins U.S. Bancorp Piper Jaffray as Senior Research Analyst Covering Biotechnology

NEW YORK, Feb. 3 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper Jaffray (Piper Jaffray) is pleased to announce that Mark Schoenebaum, M.D., has joined the firm's Equity Capital Markets division as a senior research analyst covering biotechnology. Schoenebaum joins the firm from CIBC World Markets in New York, where he was an executive director in biotechnology equity research. He will be located in Piper Jaffray's New York office.

"We are very excited to have Mark join our health care team," said Robert Peterson, head of Equity Research at U.S. Bancorp Piper Jaffray. "He will be a tremendous addition to our current biotechnology coverage. Mark's industry experience and deep medical background will be a welcomed addition to the firm and our investing clients."

Schoenebaum holds a bachelor's of arts degree in history and music, summa cum laude and Phi Beta Kappa, from Indiana University in Bloomington, Ind., and has a M.D., from John Hopkins University School of Medicine in Baltimore, Md.

"I'm extremely excited for this opportunity and am looking forward to working with this industry-leading health care team," said Schoenebaum. "Piper Jaffray is a firm with deep roots and expertise in health care and I hope to help expand that expertise in my coverage of the biotechnology industry."

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 24 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. For more information on U.S. Bancorp Piper Jaffray, visit www.piperjaffray.com .

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)

SOURCE U.S. Bancorp Piper Jaffray

"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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