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U.S. Bank Issues City of Malibu Visa Card

MALIBU, Calif., Aug 28, 2003 (BUSINESS WIRE) -- U.S. Bancorp (NYSE:USB)

U.S. Bank and the City of Malibu have partnered to issue the City of Malibu Visa(R) card that reflects the pride of Malibu and supports local youth programs.

The card carries the Visa flag, ensuring that it can be used anywhere Visa is accepted. It also enables cardholders to give back to their community every time they make a purchase with the card, because a percentage of every purchase is donated to the City of Malibu for to help fund future youth programs.

"The City of Malibu strives to provide our young community members with programs to keep them involved in wholesome activities," said Peter Lippman, City of Malibu Treasurer. "This card is a perfect way to support that mission because whenever the card is used for everyday purchases, a percentage of that money goes right back into the community."

Available in the classic and platinum versions, the City of Malibu Visa offers cardholders a low introductory rate on purchases and balance transfers for the first six months. Other benefits to the classic card include:

    --  fast access to cash at more than 805,000 ATMs worldwide;

    --  purchasing power at more than 28.5 million locations

    --  car rental discounts at Alamo, Avis, Hertz or National;

    --  24-hour card member service at 1-800-285-8585 and

    --  fraud protection from unauthorized charges if the card is lost
        or stolen.

Platinum card holders receive all of the benefits of the classic card, plus:

    --  up to $500,000 in travel insurance when tickets are purchased
        with the card;

    --  extended warranty coverage, double the manufacturer's warranty
        up to one year;

    --  free collision/damage insurance when using the card to rent a
        car and

    --  travel assistance to replace lost tickets and obtain legal and
        medical referrals.

"We're proud to partner with the City of Malibu to make this card available to residents and those who believe in the city's mission," said Pamela Sellars, district manager for U.S. Bank in Los Angeles County. "Plus it demonstrates our commitment to providing sophisticated services in a way that best supports the cities where we do business and where our customers live and work."

Applications are available at the Malibu City Hall reception desk or senior center, the U.S. Bank office in Malibu, by calling 1-800-853-5576, ext 8314 or on the Web at http://usbank.com/usbaffinity/applynow.cfm?LOC=9411. For more information see the city's Web site at www.ci.malibu.ca.us or call 310-456-2489.

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 www.usbank.com.


CONTACT:          U.S. Bank
                  Teri Charest, 612-303-0732
                  City of Malibu
                  Peter Lippman, 310-456-2489 x301

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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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