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U.S. Bancorp Foundation Awards Grants to Washington Organizations

SEATTLE, May 19, 2003 (BUSINESS WIRE) -- U.S. Bank through the U.S. Bancorp Foundation, awarded grants to 40 Washington organizations totaling $260,875. The grants were made in the Economic Opportunity funding category. Economic opportunity grants are given to organizations that provide affordable housing, encourage self-sufficiency and assist economic development.

    Some of the grant recipients include:

    --  Cascadia Revolving Fund for technical assistance to small
        business owners;

    --  HomeSight for homebuyer education and counseling services
        targeted to low- and moderate-income homebuyers;

    --  Low Income Housing Institute for the Meadowbrook View
        affordable housing project;

    --  Pierce County Community Development Corporation for the Paint
        Tacoma Beautiful project, which paints the homes of
        lower-income residents in the community;

    --  Tacoma-Pierce County Habitat for Humanity for construction of
        affordable homes for low-income families and

    --  Washington CASH for its microenterprise loan program.

"U.S. Bank is honored to give back to Washington communities in a way that bolsters the economic vitality of the region," said Ken Kirkpatrick, president of U.S. Bank in Washington. "We look forward to the positive returns that invariably result from supporting such outstanding organizations."

U.S. Bancorp, with assets in excess of $182 billion, is the 8th largest financial services holding company in the United States. The company operates 2,200 banking offices and 4,582 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 usbank.com.

SOURCE: U.S. Bancorp

CONTACT:          U.S. Bancorp
                  Teri Charest, 612/303-0732

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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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