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U.S. Bank to Provide Financial Services for Pacifica Mountainsmith, LLC

GOLDEN, Colo., Feb 11, 2003 (BUSINESS WIRE) -- Pacifica Mountainsmith, LLC, has selected U.S. Bank to be its financial services partner. U.S. Bank is providing value-added products and services that assist Pacifica Mountainsmith in achieving its financial and strategic objectives including a $2 million credit facility and a full suite of treasury management products.

"We are quite pleased with U.S. Bank. They have demonstrated creativity, flexibility and responsiveness in crafting a financing solution that puts us in a position to succeed," said Bob Hutmacher, chief financial officer for Pacifica Mountainsmith. "They treat us like a valued customer, and we feel confident that the line of credit and other services and products they are providing will help our company continue to grow."

"We are delighted that Pacifica Mountainsmith has chosen U.S. Bank to be its financial services partner," said Daniel Yohannes, vice chairman of U.S. Bancorp and market president for U.S. Bank in Denver. "This client has a long history of producing high quality outdoor gear for professional mountaineers and outdoor enthusiasts. We are confident that we will make a tangible contribution to Pacifica Mountainsmith's growth and profit generation."

Based in Golden, Colorado, Pacifica Mountainsmith, LLC designs, sources and markets outdoor and travel gear, luggage and luggage accessories under the brand names of Mountainsmith and 105 Meridian, and for private label accounts. The Mountainsmith and 105 Meridian brands were established in 1979 and 1991, respectively. Branded products are sold through specialty retailers and sporting goods stores nationwide. Private label products are sold through traditional and catalog retailers nationwide. Visit Pacifica Mountainsmith on the web at www.mountainsmith.com.

U.S. Bancorp (NYSE: USB), with assets in excess of $180 billion, is the 8th largest financial services holding company in the United States. The company operates 2,142 banking offices and 4,604 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.

CONTACT:          U.S. Bank
                  Amy Frantti, 612/303-0733
                  Pacifica Mountainsmith, LLC
                  Karen Wieser, 303/279-5930

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SOURCE: U.S. Bancorp

"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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