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U.S. Bank Selected as Indenture Trustee for Caterpillar Financial Asset Trust 2003-A

MINNEAPOLIS, Jul 10, 2003 (BUSINESS WIRE) -- U.S. Bank today announced that Caterpillar Financial Services Corporation has selected the bank as indenture trustee and custodian for their asset-backed note financing, supported primarily by new and used construction equipment lease and loan contracts. In its role as indenture trustee and custodian for the $671 million Caterpillar Financial Asset Trust 2003-A, U.S. Bank will be responsible for compliance oversight, file maintenance, noteholder communication and processing of interest and principal payments.

The servicer, Caterpillar Financial Services Corporation, headquartered in Nashville, Tenn., is a wholly owned finance subsidiary of Caterpillar Inc. It primarily provides financing for Caterpillar equipment sold through Caterpillar dealers. Headquartered in Peoria, Ill., Caterpillar Inc. is the world's largest manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines.

"We chose U.S. Bank Corporate Trust Services as our business partner for corporate trust services because of their experience and flexibility," said Greg Simons, securitization funding manager, Caterpillar Financial Services Corporation. "U.S. Bank has demonstrated a strong commitment to the corporate trust business and is a proven market leader."

U.S. Bank Corporate Trust Services is one of the nation's largest providers of corporate trust services, administering a diverse portfolio of more than 50,000 bond issues representing more than $1.35 trillion in outstanding municipal, corporate, asset-backed and international securities.

U.S. Bancorp (NYSE:USB) is the parent company of U.S. Bank with assets in excess of $182 billion and 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. Visit U.S. Bancorp on the web at usbank.com.

SOURCE: U.S. Bank

CONTACT:          U.S. Bank
                  Amy Frantti, 612/303-0733
                  amy.frantti@usbank.com

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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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