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U.S. Bank Opens 31 of 163 Branches Inside Safeway and Vons; Opens First Seven in Las Vegas and Henderson Vons Stores on Nov. 10

LAS VEGAS, Nov 10, 2003 (BUSINESS WIRE) -- U.S. Bank will open the first round of the 163 branches planned for Safeway and Vons stores in Nevada, California and Arizona with seven opening in Vons stores on Nov. 10 in Las Vegas and Henderson.

The Safeway/Vons expansion is the largest ever for U.S. Bank in-stores, which ranks as the third-largest in-store banking network in the country. The expansion is a source of great excitement for both U.S. Bank and Safeway, Inc.

"U.S. Bank has a long history in Nevada and has recently targeted the region for even greater growth, namely through our partnership with Safeway, Inc.," said Henry Hall, district manager for U.S. Bank in-stores in Nevada. "Our in-store branches are one of the crown jewels for U.S. Bank and we're proud to offer customers full-service banking that they would receive at any traditional branch location, along with convenient hours, convenient locations and Five Star guaranteed service."

The other 21 locations opening in this first round are located in northern and southern California and Phoenix. The total 163 locations will open gradually over the next two years. U.S. Bank will have a total of 446 in-store branches in 19 states once the Safeway/Vons expansion is completed.

    The seven Nevada locations opening are:

    --  Stephanie Street Vons, 625 Stephanie Street, Henderson;

    --  Anthem Village Drive Vons, 2511 Anthem Village Drive,
        Henderson;

    --  South Rampart Vons, 820 South Rampart Boulevard, Las Vegas;

    --  West Desert Inn Road Vons, 8450 West Desert Inn Road, Las
        Vegas;

    --  East Twain Avenue Vons, 1155 East Twain, Las Vegas;

    --  Buffalo & Centennial Vons, 6450 Sky Pointe Drive, Las Vegas;
        and

    --  West Cheyenne Vons, 6000 West Cheyenne, Las Vegas.

Safeway Inc. (NYSE:SWY) is a Fortune 50 company and one of the largest food and drug retailers in North America based on sales. The company operates 1,702 stores in the United States and Canada and had annual sales from continuing operations of $32.4 billion in 2002.

U.S. Bancorp (NYSE:USB), with $189 billion in assets, is the 8th largest financial services holding company in the United States. The company operates 2,201 banking offices and 4,506 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 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
                  Steve Dale, 612-303-0784
                  or
                  Safeway/Vons
                  Brian Dowling, 925-467-3787

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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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