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In-Store Banking Veteran Joins U.S. Bank; Will Oversee Many of the New Safeway/Vons Locations Opening Over Next Two Years

LOS ANGELES, Sep 25, 2003 (BUSINESS WIRE) -- Robert A. (Rob) Brown has joined U.S. Bank as regional manager for U.S. Bank in-stores in California. He will oversee a total of 118 U.S. Bank in-store locations, which includes more than 100 of the new U.S. Bank in-store locations that are opening in Safeway and Vons grocery stores in the next two years.

Brown comes to U.S. Bank with a background of more than 25 years in banking and investments, including a wealth of experience opening new in-store locations. He is a general securities sales manager and principal, and has served as branch manager, district manager and region manager with companies such as Charles Schwab, The Vanguard Group, Bank of America and Wells Fargo. In the mid-90s while with Bank of America, Brown led an initiative to open hundreds of in-stores in California.

"We couldn't have found a more perfect fit for this position," said Chuck Stroup, senior vice president of U.S. Bank In-Store Banking. "Rob has lived in the Los Angeles area all of his adult life and brings to our team not only great knowledge and experience in banking but an understanding of the markets in California which he will lead."

On Sept. 2, U.S. Bank and Safeway Inc. announced a definitive agreement to open 163 new full-service U.S. Bank in-store branch locations during the next two years in California, Arizona and Nevada stores. More than 100 of those locations are in California. This in-store expansion and partnership venture is the largest in U.S. Bancorp's 140-year history. U.S. Bank, the third-largest in-store branch-banking network in the United States, will have a total of 446 in-store branches in 19 states once the Safeway/Vons expansion is completed. (Vons is a division of Safeway Inc.)

A resident of the Los Angeles neighborhood of Westwood, Calif., Brown is based in the newly-named U.S. Bank Tower in downtown Los Angeles. He will have six district managers reporting to him, five of which will be hired over the next few quarters.

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.

SOURCE: U.S. Bank

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

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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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