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Employees Throughout U.S. Bancorp Piper Jaffray to Teach Financial ABCs On National Teach Children to Save Day

MINNEAPOLIS, April 9 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper Jaffray (Piper Jaffray), a client-focused securities firm, has developed a fun, interactive financial education program for children in fourth and fifth grades, which it will launch Thurs., April 10, in collaboration with National Teach Children to Save Day. The program illustrates the power of saving and investing -- and the importance of starting at a young age.

Piper Jaffray financial advisors will visit over 80 classrooms across America on National Teach Children to Save Day, which was initiated by the American Bankers Association Education Foundation in 1997.

"Piper Jaffray is committed to the communities in which we live and work," said Paul Grangaard, head of the Private Advisory Services division, U.S. Bancorp Piper Jaffray. "With the National Teach Children to Save Day program we hope to foster financial knowledge for children to take home to their parents to open up discussions on saving, sharing and investing."

Financial Advisors Teach School

On National Teach Children to Save Day, U.S. Bancorp Piper Jaffray financial advisors will attempt to make saving and investing money even more fun than spending it. Fourth and fifth graders will be introduced to a savings brain-teaser the firm developed called, "Let's Make a Deal." Children are to assume that their parents are planning to give them an allowance to do a daily chore, such as walking the dog or cleaning their room. They are asked to give their parents a choice between paying them $25 a month or paying them a penny the first day, two pennies the second day, four pennies the third day and so on, doubling the pennies each day. Which should the parents choose?

While children typically will say $25, most adults know there's a hitch. And they're right. Within two weeks the pennies add up to $163.83. After one month the pennies add up to $10,737,418.23! Following this brain-teaser, financial advisors will teach students how to make money grow through a savings account or CD and will introduce them to the concept of stocks through a stock game. Finally, they will give each student a Moonjar moneybox. Moonjars encourage children to envision their dreams and creatively bring them to life. The Moonjar is made up of three moneyboxes; saving, sharing and spending. The Moonjars act as teaching tools that connect wish-upon-a-star hopes with conscientious decision-making and financial objectives. Moonjar moneyboxes also inspire positive family communication, responsibility and commitment to the larger community.

Parents have a role in helping children to save

Parents have an important role in reinforcing savings lessons children will learn in school April 10. Here are some savings tips for parents to use with children at home:

    1. Give them an allowance with the understanding that part of it goes
       into their own savings -- a first step toward learning to budget.
    2. To make their savings visible and real, have them build up savings in
       a piggy bank.  Then help them open their own bank savings account, and
       have them make deposits each month.
    3. Use their monthly statements, or the record in their savings
       passbooks, to show them how their money is growing.
    4. For every dollar children earn, encourage them to spend 25 cents on
       what they want or need now, put 25 cents away for a bigger-item
       purchase later and save or invest the rest. (That's a 50 percent
       savings rate!)
    5. Make savings and investing fun.  Give children play money to "invest"
       in stocks they can track in local newspapers.  If the stocks go up,
       pay them in more play money; if the stocks decline, they pay you.
    6. Best of all, show children how to save by example.  Adults can save by
       having a portion of their paycheck directly deposited into a savings
       account, IRA, 401(k) account or other savings options.

    (Source: American Bankers Association)

    College savings plans can help parents save for their children

In addition to helping children to save their own money, parents can also help children get a good start in life by saving for their children's college education early. The returns from an investment in college beat just about any other investment:

    -- College graduates can expect to make an average of $1 million more
       over their professional lives than can their high school-graduate
       counterparts.  (Source: U.S. Census Bureau)
    -- Personal bankruptcy filings are at record highs in America.
       1.5 million individuals filed for bankruptcy in 2002, which is about
       one filing per 69 households.  (Source: The American Bankruptcy
       Institute)

The lifetime rewards of college require a substantial capital outlay, however. The cost of a public college education today averages $4,081 a year, while the cost of private college today is about $18,273 a year, according to The College Board. Typical room and board expenses run about $5,582 at a public college and $6,779 at a private college. And the cost of college is outpacing inflation. The College Board estimates that public college for a child born this year will likely cost more than $124,00 over four years, and private college will total $270,000 over four years.

Education Savings Plans Help Foot the Bill

College savings plans, including the 529 college savings plan and Coverdell Education Savings Account, allow parents or grandparents to set aside money each year for college tuition tax deferred. When a child is ready for college, he or she can also make federally tax-exempt withdrawals to pay for qualified expenses such as tuition, as a result of new tax laws.

These plans are only two of several options for college saving. Parents should learn about all the options before deciding on a plan that's right for them. A good overview is provided on the Web at www.piperjaffray.com .

The lesson for both parents and children is that putting away even a little money consistently can help children achieve their dreams in life. And a little help from a financial advisor to determine savings and investing plan will help families prepare for a bright future.

U.S. Bancorp Piper Jaffray, a subsidiary of Minneapolis-based U.S. Bancorp 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. Securities products and services offered through U.S. Bancorp Piper Jaffray, Inc., member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp. For more information on U.S. Bancorp Piper Jaffray, visit www.piperjaffray.com . Non- deposit 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.

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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