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U.S. Bank Expands Nation's Third-Largest In-Store Bank Network to San Diego

ESCONDIDO, Calif., Jul 28, 2003 (BUSINESS WIRE) -- U.S. Bank, home of the third-largest in-store branch banking network in the United States, will expand into San Diego County when it opens a new branch inside Albertsons located at 1509 East Valley Parkway in Escondido today (July 28).

The opening is the first U.S. Bank in-store location in San Diego and expands the number of U.S. Bank offices in San Diego County to 26. Another U.S. Bank in-store location is scheduled to open in Oceanside in August. U.S. Bank also recently opened a branch in a Ralphs store in Murrieta, which led this wave of southern California in-store openings.

"There are natural synergies between a grocery store and a bank. Our partnership with Albertsons is a great way to reach out to busy people who like the convenience of one-stop shopping," said Kathryn Busch, vice president and district manager of U.S. Bank In-Store Banking in California and Arizona. "Research shows that consumers bank 2.4 times per week and shop 2.6 times per week, making shopping and banking in one trip more convenient."

U.S. Bank has 275 in-store locations in 19 states throughout the Midwest and West. More than 200 of those locations are at Albertsons, Giant Eagle, Kroger, Meijer or Winn Dixie.

The new location offers a full range of services and is open seven-days-a-week. In addition to opening checking accounts, customers can conveniently transact business on savings, CDs, IRAs and other investment opportunities, or get a loan for a car, boat, home improvement or debt consolidation. ATM services and night drop are also available.

Customers can also take comfort in knowing that U.S. Bank is home of the exclusive Five Star Service Guarantee, meaning business will be efficient and accurate or the bank will pay them and make it right.

U.S. Bancorp, with assets of $195 billion, is the 8th largest financial services holding company in the United States. The company operates 2,199 banking offices and 4,575 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.


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

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"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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