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U.S. Bancorp Piper Jaffray Internet Analyst Safa Rashtchy to Hold Key Internet Search Symposium

- Symposium to Take Place March 18, 2003 in New York -

NEW YORK, March 11 /PRNewswire/ -- With search prominently taking center stage in the Internet industry, U.S. Bancorp Piper Jaffray Principal and Senior Internet Analyst Safa Rashtchy is holding a key search seminar, Piper Search Symposium: 2003 and Beyond, at the New York Palace Hotel Tues., March 18, 2003. This full-day event will feature senior management from nearly all major search companies, including Yahoo! Inc. (YHOO, $19.19, #=), Google, Overture Services Inc. (OVER, $16.45, #>), Lycos, Inc., AltaVista Company (CMGI, $0.75, #>=), Inktomi Corporation (INKT, $1.63), Fast Search & Transfer(TM) (FASRF, $0.86), LookSmart, Ltd. (LOOK, $1.97, #>), Ask Jeeves, Inc. (ASKJ, $5.84, #>), FindWhat.com (FWHT, $8.77), and eSpotting.com.

The focus of the symposium is to provide a crash-course in the status of search today and, more importantly, where search is going and how this landscape is shaping. The symposium will have four intensive panel discussions around the key search segments:

     1) search destinations,
     2) databases and search technologies,
     3) monetization technologies, and
     4) an advertiser's forum.

There will also be extensive discussions around the hottest topics in search, such as: how do different search technologies stack up; what drives increased relevancy; how will monetization impact search results; how big can search marketing get; who are the likely winners and why? Below is the current agenda for the symposium.

     8:30 a.m. - Introduction
     8:45 a.m. - Search Destinations
     10:30 a.m. - Search Monetization
     12:15 p.m. - Advertiser Forum- Lunch
     1:30 p.m. - Algorithmic and Database Technologies
     3 p.m. - Wrap-Up and Q & A
     3:30 p.m. - Open Forum and Search Networking

Safa Rashtchy is a principal of U.S. Bancorp Piper Jaffray and a senior research analyst focused on the Internet media and marketing sector. He joined the Equity Research Department of U.S. Bancorp Piper Jaffray as a research analyst in 1997 and has published several technical papers and presented at various industry conferences. Rashtchy has developed his research coverage with a focus on online advertising, search and e-commerce and related Internet services. In addition, Rashtchy was recently named to the Wall Street Journal's "2002 Best on the Street" analyst survey and was also a winner in Institutional Investor Magazine's "Home Run Hitters of 2001" top stock pickers list. Rashtchy also consistently enjoys the top ranking for his earnings accuracy, as compiled by Starmine.

Members of the media who are interested in attending the Piper Search Symposium: 2003 and Beyond, please feel free to contact Dana Wade at dwade@pjc.com or 415-277-1556. Clients should contact their U.S. Bancorp Piper Jaffray account executive to sign up for this symposium. For more information about the symposium go to www.gotoanalyst.com/ss .

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 .

Rating Definitions

Investment Opinion: Investment opinions are based on each stock's return potential relative to the overall market*, not on an absolute return.

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Strong Buy: Expected to outperform the relevant broader market index over the next 6 to 12 months. An identifiable catalyst is present to drive appreciation.

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Outperform: Expected to outperform the relevant broader market index over the next 12 to 18 months.

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Market Perform: Expected to perform in line with the relevant broader market index over the next 6 to 12 months.

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Underperform: Expected to underperform the relevant broader market index over the next 6 to 12 months.

* Broader market indices = Russell 2000 and S&P 500

Volatility Rating: Our focus on growth companies implies that the stocks we recommend are typically more volatile than the overall stock market. We are not recommending the "suitability" of a particular stock for an individual investor. Rather, it identifies the volatility of a particular stock.

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Low: The stock price has moved up or down by more than 10% in a month in fewer than 8 of the past 24 months.

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Medium: The stock price has moved up or down by more than 20% in a month in fewer than 8 of the past 24 months.

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High: The stock price has moved up or down by more than 20% in a month in at least 8 of the past 24 months. All IPO stocks automatically get this volatility rating for the first 12 months of trading.

The following disclosures apply to stocks mentioned in this report if and as indicated: (#) U.S. Bancorp Piper Jaffray (USBPJ) was making a market in the Company's securities at the time this research report was published. USBPJ may buy and sell the Company's securities on a principal basis. (^) A USBPJ analyst who follows this Company or a member of the analyst's household has a financial interest (a long equity position) in the Company's securities. (@) Within the past 12 months, USBPJ was a managing underwriter of an offering of, or dealer manager of a tender offer for, the Company's securities or the securities of an affiliate. (>) USBPJ has either received compensation for investment banking services from the Company within the past 12 months or expects to receive or intends to seek compensation within the next three months for investment banking services. (~) A USBPJ analyst who follows this Company, a member of the analyst's household, a USBPJ officer, director, or other USBPJ employee is a director and/or officer of the Company. (+) USBPJ and its affiliates, in aggregate, beneficially own 1% or more of a class of common equity securities of the subject Company. (=) One or more affiliates of U.S. Bancorp, the ultimate parent company of USBPJ, provided commercial banking services (including, without limitation, loans) to the Company at the time this research report was published.

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.

USBPJ research analysts receive compensation that is, in part, based on revenues of USBPJ Equity Capital Markets, which include investment banking revenues. USBPJ research analysts who follow this Company report to the Head of Equity Research who, in turn, reports only to the Head of Equity Capital Markets.

This material is based on data obtained from sources we deem to be reliable; it is not guaranteed as to accuracy and does not purport to be complete. This information is not intended to be used as the primary basis of investment decisions. Because of individual client requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. It is not a representation by us or an offer or the solicitation of an offer to sell or buy any security. Further, a security described in this release may not be eligible for solicitation in the states in which the client resides. U.S. Bancorp and its affiliated companies, and their respective officers or employees, or members of their families, may have a beneficial interest in the Company's securities and may purchase or sell such positions in the open market or otherwise. This report is a communication made in the United Kingdom by U.S. Bancorp Piper Jaffray to market counterparties or intermediate customers and is exclusively directed at such persons; it is not directed at private customers and any investment or services to which the communication may relate will not be available to private customers. In the United Kingdom, no persons other than a market counterparty or an intermediate customer should read or rely on any of the information in this communication. Securities products and services offered through U.S. Bancorp Piper Jaffray, member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp.

Gotoanalysts.com

Additional information is available upon request.

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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