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U.S. Bancorp Receives Minnesota Keystone Program's 2003 Super Star Award

MINNEAPOLIS, Dec 15, 2003 (BUSINESS WIRE) -- The 2003 Minnesota Keystone Program honored three companies, including U.S. Bancorp, at the annual Keystone Recognition Luncheon at the Minneapolis Marriott City Center recently. U.S. Bancorp received the Keystone Program's 2003 Super Star Award. The Minnesota Keystone Program, sponsored by the Minneapolis Regional Chamber of Commerce, has 232 corporate members who contribute at least two percent, as mandated by the program, of their pre-tax profits back to the community. Jerry Grundhofer, chairman, president and chief executive officer of U.S. Bancorp, accepted the award on behalf of the company.

The honored companies were selected based on employee size, number of years in the Keystone Program and quality of their giving programs. U.S. Bancorp's Super Star Award was designated for a company with more than 500 employees. The Minneapolis-based company was recognized for its corporate citizenship including grants from the U.S. Bancorp Foundation, employee volunteer programs and its Back 2 Schools program, a $500,000 investment for Minnesota high schools. Under this initiative, U.S. Bancorp will make up to 75 grants to teachers who have created programs that enhance student learning; award cash to students who demonstrate significant achievements in the arts, academics, community service, leadership, and personal success; and financially contribute to the schools of KARE 11's Athletes of the Week.

"U.S. Bancorp has been involved with the Keystone Program for over 20 years because we recognize that by virtue of this award, and by example, Keystone companies can influence others to join us," remarked Grundhofer. "We also are involved because giving back to the communities we serve is a core value of U. S. Bancorp, not only here in the Twin Cities and in Minnesota, but also in all of the communities we serve across our 24 state footprint. Every company honored as a Keystone winner in the past, every company large or small, owes its success in large part to the economic well-being of our community, to an educated and skilled workforce, to strong and healthy families and individuals, to the intellectual and cultural enrichment provided by our arts organizations, to the atmosphere of caring and support that surrounds all of our citizens, weak or strong, young or old. However skilled we are at business, however competitive our products and pricing, however accomplished our sales and marketing, none of us succeeds in a vacuum."

Other honorees recognized by the Minnesota Keystone Program are Little & Company, recipient of the Star Award for companies with less than 76 employees and Reell Precision Manufacturing Corporation, recipient of the Shining Star Award for a company with 76 to 500 employees.

U.S. Bancorp (NYSE:USB), with assets of $189 billion, 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 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. Bancorp

CONTACT:          U.S. Bancorp
                  Steve Dale, 612-303-0784
                  Amy Frantti, 612-303-0733

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Copyright (C) 2003 Business Wire.  All rights reserved.

SOURCE: U.S. Bancorp

"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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