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Stipe Named to U.S. Bank Advisory Board of Directors

LAS VEGAS, Aug 26, 2003 (BUSINESS WIRE) -- U.S. Bank today announced that A. Allan Stipe, president and chief executive officer of Sunrise Hospital & Medical Center, has been named to the U.S. Bank advisory board of directors in Nevada. Kenneth G. Ladd, president of U.S. Bank in Nevada, made the announcement earlier this month.

"We're excited and honored to have Allan join the team," said Ladd. "Allan's unique breadth of experience and his well-earned reputation as a humanitarian make him the perfect new addition to our advisory board."

"I have been particularly impressed with the dedication to customer service shown by Ken and his team," said Stipe. "I look forward to helping U.S. Bank reach its full potential."

A 25-year veteran in hospital management, Stipe returned to his previous role as president and chief executive officer of Sunrise Hospitals & Medical Center and Sunrise Children's Hospital in July 1999. He first held the position beginning in 1991 through 1995. Prior to returning to Sunrise, he was president of sunrise Health System/Las Vegas. Mr. Stipe first joined Sunrise Healthcare System/Las Vegas in 1987.

Stipe has previously served as chairman of the board for the Nevada Hospital Association and as a member of the Judicial Selection Committee for Nevada. In 1994, he was named Humanitarian of the Year by the Arthritis Foundation. Stipe also has received the Nurses' Choice Award from the March of Dimes and Columbia/HCA's Presidents' Award.

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

SOURCE: U.S. Bank

CONTACT:          U.S. Bank
                  Karen Greenwood, 612/303-0731

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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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