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The U.S. Bank Back to Schools Program to Invest Nearly $500,000 in Minnesota Schools

MINNEAPOLIS, Jun 9, 2003 (BUSINESS WIRE) -- U.S. Bank today announced it will invest nearly $500,000 in a new program called "Back to Schools" that is designed to support teachers, high schools and students across Minnesota. This program follows a long and strong tradition of U.S. Bank supporting Minnesota high school students. In the past ten years, the bank has contributed more than $3.5 million dollars in programs benefiting Minnesota high school students. This new program represents an even greater level of annual support for area high schools and enhances U.S. Bank's commitment to education.

Richard Davis, vice chairman of commercial and consumer banking for U.S. Bancorp, commented, "There is no greater investment in the future of Minnesota than investing in our young people. It is important that we recognize students across the communities U.S. Bank serves for their positive achievements and accomplishments. We also want to help those who do the most to help our students--the teachers. As a result we have developed the Back to Schools program that will help create or enhance partnerships with the schools in the communities where U.S. Bank has branch offices."

Robert Schmidt, executive director, Minnesota Association of Secondary School Principals, noted, "We support this move by U.S. Bank to place a larger emphasis on education in Minnesota. At a time when resources for education are being tested, this program will provide a positive impact that will help schools and students across the state succeed."

The Back to Schools program will help teachers and students in the classroom and students participating in extra curricular activities. Three new aspects of the Back to Schools program will include:

The U.S. Bank Teacher's Edition -- This is a program that will award $500-$1,000 to teachers in U.S. Bank markets in Minnesota to fund projects designed to enhance learning in the classroom. Teacher's Edition will fund between 50-75 programs submitted by teachers that might otherwise not have been possible because of budget restraints.

Five Star Student Honor Roll -- This is a statewide program to recognize students who excel in the academics, arts, community service, student leadership and those who overcome challenges. Local school faculty, staff and students will nominate individuals for this award, which will be announced three times during the school year. As a result approximately 150 Minnesota students will be recognized annually for what they do for their community and school. This will include a monetary award of $250, certificates and special recognition in their community. Also, two of the award winners during the year will be selected to each receive a $10,000 scholarship from U.S. Bank.

Prep Athletes of the Week -- U.S. Bank will sponsor KARE-11 TV's "Athletes of the Week" segment, which airs each Monday night during the 10 p.m. news program for 40 weeks during the school year. Each Monday night during the school year a male and female student athlete will be recognized for their accomplishments. This program will include students from the KARE-11 TV viewing area, which is composed of Minnesota and a portion of Northwestern Wisconsin.

U.S. Bank will also provide a grant of $250 to the high school of each weekly winner, to help fund student services and activities.

As part of the Back to Schools program, an end of the year banquet will be sponsored and hosted by U.S. Bank to recognize winners in the Five Star Student Honor Roll, the U.S. Bank Prep Athletes of the Week and the U.S. Bank Teacher's Edition programs.

U.S. Bank has more than 130 branch office locations in Minnesota and it is the goal of the Back to Schools program to positively impact local schools across the state during the upcoming school year. In addition, the Back to Schools program includes other U.S. Bank ventures such as sponsorship of the KMSP-TV televised Minnesota high school tournaments, U.S. Bank employees serving as mentors for students at various schools, and other programs that support and promote education in the state.

U.S. Bancorp (NYSE:USB), 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. Bank

CONTACT:          U.S. Bank
                  Steve Dale, 612/303-0784
                  or
                  Teri Charest, 612/303-0732

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SOURCE: U.S. Bank

"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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