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Prominent Southern California Dealership Chooses U.S. Bank; Covina-Based Bozzani Motors Taps U.S. Bank to Steer Its Financial Future

COVINA, Calif., Mar 27, 2003 (BUSINESS WIRE) -- U.S. Bancorp (NYSE:USB)

Bozzani Motors, a prominent Volkswagen and Volvo dealership in southern California, has chosen U.S. Bank to provide a number of financial services. A specialist in commercial dealer relationships, U.S. Bank will handle the dealership's deposit accounts and a credit line. The bank will also provide merchant and treasury management services that will make the company's financial operation more efficient and cost effective.

"We were looking for a financial services partner that could provide a wide range of services to both our clients and ourselves," said Greg Bozzani, general manager Bozzani Motors. "The people at U.S. Bank demonstrated that they can deliver a full service banking relationship, with a strong reputation, which was key in our decision to bring our business to U.S. Bank."

"Our new business involvement with this marquee name in the industry demonstrates our commitment to Covina and to building long term relationships with Covina businesses," said Terry Owens, Vice President of Dealer Commercial Services at U.S. Bank in Orange County.

Founded in 1962, Bozzani Motors has more than 85 years in the automobile industry. With sales in excess of $50 million, Bozzani Motors is the operator of two automobile dealerships - Bozzani Volkswagen and Bozzani Volvo. In addition to automobiles, Bozzani Motors provides a state-of-the-art service department providing professional trained mechanics and quality customer service.

U.S. Bank is part of U.S. Bancorp (NYSE:USB). With assets in excess of $180 billion, U.S. Bancorp 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. Visit U.S. Bancorp on the web at www.usbank.com.

CONTACT:          U.S. Bank Media Relations
                  Karen Greenwood, 612/303-0731

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"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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