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U.S. Bank in Western Idaho Named ``SBA 504 Lender of the Year;'' Recognized by Capital Matrix As Largest Bank Partner for 2003

BOISE, Idaho, Oct 28, 2003 (BUSINESS WIRE) -- U.S. Bank in Western Idaho has been named the Small Business Administration (SBA) 504 Lender of the Year by Capital Matrix, the regional certified development company serving southwestern Idaho and eastern Oregon. The award singles out the group of professional bankers who are consistently among the top SBA 504 producers in the Boise market from Sept. 1, 2002 through Aug. 31, 2003.

"This is quite an honor for U.S. Bank and speaks volumes about our commitment to bringing more businesses into the community," said Ridgley Denning, vice president and senior relationship manager at U.S. Bank. "We're very proud to have been recognized by Capital Matrix as a leader in the small business administration loan market."

Established by the U.S. Small Business Administration, the SBA 504 loan program offers small businesses long-term financing at affordable fixed interest rates. Small business owners can use the 504 loan option to purchase land, buildings or equipment as well as make building improvements. Under the program, a bank or financial institution will lend up to 50 percent of the project cost, Capital Matrix will lend up to 40 percent and the business owner provides a minimum of 10 percent toward the project's cost.

U.S Bank was recognized by Capital Matrix for financing ten projects through the SBA 504 program valued at more than $9.5 million. The bank was also nominated for their outstanding customer service in recognizing how the SBA 504 benefits customers and when the loan can make a difference in financing commercial real estate projects.

U.S. Bank is a subsidiary of U.S. Bancorp (NYSE:USB). With assets of $195 billion, U.S. Bancorp 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. 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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Copyright (C) 2003 Business Wire.  All rights reserved.

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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