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U.S. Bancorp Piper Jaffray Software Analyst Tad W. Piper to Host Business Intelligence and Analytics Symposium

- Symposium to Take Place November 18, 2003 -

NEW YORK, Nov. 14 /PRNewswire-FirstCall/ -- As executives continue to face constant pressure to perform, grow the business and become more profitable, business intelligence and analytical applications continue to bubble to the top of the mire as a means of diagnosing business performance and making better decisions. Several forces are driving management teams toward implementing business intelligence applications. To discuss these drivers as well as key questions facing the industry today, U.S. Bancorp Piper Jaffray Senior Software Applications Analyst Tad W. Piper, Chartered Financial Analyst (CFA), will host the Business Intelligence and Analytics Symposium on November 18, 2003 at the Waldorf Astoria Hotel in New York.

The one-day event will feature four panel discussions with representatives from the leading business intelligence and analytical applications vendors in the fastest-growing segment of the enterprise software industry today. This includes industry experts and executives from Actuate Corp. (ACTU, not rated, $3.39), Alphablox Corp., Ascential Software Corp (ASCL, not rated, $24.89), Cognos (COGN, Outperform, $35.58, #>) Informatica Corporation (INFA, not rated, $11.57, #>), Information Builders, Hyperion Solutions Corporation (HYSL, Strong Buy, $33.91, #>=+), ProClarity Corporation, Siebel Systems (SEBL, Market Perform, $13.77, #) and SPSS Inc. (SPSS, not rated, $19.19).

    Panel topics include:
    1.  Enterprise Reporting -- Commodity or Competitive Differentiator?
    2.  The Enterprise Resource Planning (ERP) Vendor Threat -- The Beginning
        of the End or the End of the Beginning?
    3.  Infrastructure Providers' Foray into Business Intelligence -- How High
        Up the Stack Will They Go?
    4.  Business Intelligence Tools, versus Analytical Applications: Will
        Verticalization Be the Next Phase?

Members of the media interested in attending the Piper Jaffray Business Intelligence and Analytics Symposium should contact Dana Wade at dwade@pjc.com or 415-277-1556. Piper Jaffray clients should contact their account executive to register for the event.

About U.S. Bancorp Piper Jaffray:

U.S. Bancorp Piper Jaffray, a subsidiary of the consolidated group of U.S. Bancorp (NYSE: USB), is a focused securities firm comprised of two revenue- generating segments: Capital Markets and Private Client Services. Clients of both segments are supported by Investment Research. The firm provides a full range of investment products and services to individuals, institutions and businesses. The firm has over 126 offices in 25 states across the country. U.S. Bancorp offers a comprehensive range of financial solutions through U.S. Bank, U.S. Bancorp Asset Management, U.S. Bancorp Investments and U.S. Bancorp Piper Jaffray. For more information on U.S. Bancorp Piper Jaffray, visit www.piperjaffray.com .

The following disclosures apply to stocks mentioned in this report if and as indicated: (#) U.S. Bancorp Piper Jaffray (USBPJ) was making a market in the Company's securities at the time this research report was published. USBPJ may buy and sell the Company's securities on a principal basis. (^) A USBPJ analyst who follows this Company or a member of the analyst's household has a financial interest (a long equity position) in the Company's securities. (@) Within the past 12 months, USBPJ was a managing underwriter of an offering of, or dealer manager of a tender offer for, the Company's securities or the securities of an affiliate. (>) USBPJ has either received compensation for investment banking services from the Company within the past 12 months or expects to receive or intends to seek compensation within the next three months for investment banking services. (~) A USBPJ analyst who follows this Company, a member of the analyst's household, a USBPJ officer, director, or other USBPJ employee is a director and/or officer of the Company. (+) USBPJ and its affiliates, in aggregate, beneficially own 1% or more of a class of common equity securities of the subject Company. (=) One or more affiliates of U.S. Bancorp, the ultimate parent company of USBPJ, provided commercial banking services (including, without limitation, loans) to the Company at the time this research report was published. (*) A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. ** These companies have conducted initial public offerings of their securities and are currently in the "Quiet Period." As a result, there is no research available on these companies. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities of these companies. Additional information is available upon request.

    Rating Definitions
      Investment Opinion: Investment opinions are based on each stock's return
                          potential relative to the overall market*, not on an
                          absolute return.
      Strong Buy: Expected to outperform the relevant broader market index
                  over the next 6 to 12 months.  An identifiable catalyst is
                  present to drive appreciation.
      Outperform: Expected to outperform the relevant broader market index
                  over the next 12 to 18 months.
      Market Perform: Expected to perform in line with the relevant broader
                      market index over the next 6 to 12 months.
      Underperform: Expected to underperform the relevant broader market index
                    over the next 6 to 12 months.

     * Broader market indices = Russell 2000 and S&P 500

      Volatility Rating: Our focus on growth companies implies that the stocks
                         we recommend are typically more volatile than the
                         overall stock market.  We are not recommending the
                         "suitability" of a particular stock for an individual
                         investor.  Rather, it identifies the volatility of a
                         particular stock.
      Low: The stock price has moved up or down by more than 10% in a month in
           fewer than 8 of the past 24 months.
      Medium: The stock price has moved up or down by more than 20% in a month
              in fewer than 8 of the past 24 months.
      High: The stock price has moved up or down by more than 20% in a month
            in at least 8 of the past 24 months.  All IPO stocks automatically
            get this volatility rating for the first 12 months of trading.

    Disclaimer

Nondeposit investment products are not insured by the FDIC, are not deposits or other obligations of or guaranteed by U.S. Bank National Association or its affiliates, and involve investment risks, including possible loss of the principal amount invested.

USBPJ research analysts receive compensation that is, in part, based on revenues of USBPJ Equity Capital Markets which include overall investment banking revenues. USBPJ research analysts who follow this Company report to the Head of Investment Research who, in turn, reports directly to the Chief Executive Officer of U.S. Bancorp Piper Jaffray.

This material is based on data obtained from sources we deem to be reliable; it is not guaranteed as to accuracy and does not purport to be complete. This information is not intended to be used as the primary basis of investment decisions. Because of individual client requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. It is not a representation by us or an offer or the solicitation of an offer to sell or buy any security. Further, a security described in this release may not be eligible for solicitation in the states in which the client resides. Affiliates of U.S. Bancorp Piper Jaffray, including U.S. Bancorp and their respective officers or employees, or members of their families, may have a beneficial interest in the Company's securities and may purchase or sell such positions in the open market or otherwise.

Notice to customers in the United Kingdom: This report is a communication made in the United Kingdom by U.S. Bancorp Piper Jaffray to market counterparties or intermediate customers and is exclusively directed at such persons; it is not directed at private customers and any investment or services to which the communication may relate will not be available to private customers. In the United Kingdom, no persons other than a market counterparty or an intermediate customer should read or rely on any of the information in this communication.

Securities products and services offered through U.S. Bancorp Piper Jaffray, member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp. Additional information is available upon request.

SOURCE U.S. Bancorp Piper Jaffray

"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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