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U.S. Bank to Relocate Regional Headquarters to the Rookery; U.S. Bank Branch Also Slated for 209 South LaSalle Street

CHICAGO, Jun 27, 2003 (BUSINESS WIRE) -- U.S. Bank (NYSE:USB) will move its regional headquarters to the historic Rookery Building in center of Chicago's financial community. U.S. Bank plans to consolidate various business lines currently in several locations throughout Chicago, while continuing to keep its downtown operations open at 30 North Michigan and the Wrigley Building.

By the first quarter of 2004, U.S. Bank will occupy space on the 2nd, 3rd and 4th floor of the Rookery at 209 South LaSalle Street, with a future U.S. Bank retail location on the Street level of the Rookery.

Michael J. Clawson, U.S. Bank Chicago market president, said, "This is a grand statement to our customers, prospects and associates. Our future Chicago regional headquarters, just a short walk from the Board of Trade, truly projects the status and quality of U.S. Bank and our employees. This move not only makes economical sense, but also illustrates how important the Chicago market is to us and the growth we have attained thus far. Also, the synergy of bringing our business lines under one roof will go a long way in showcasing the strength of our organization."

U.S. Bank has currently has 47 retail locations throughout the Chicago area, including seven branches located inside Meijer stores in the western Chicago suburbs.

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. Bank

CONTACT:          U.S. Bank
                  Lisa Clark, 608/877-7517
                  888/437-8620 (pager)

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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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