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News from U.S. Bancorp: Financial Careers Institute Spring Term Begins January 13

MINNEAPOLIS, Jan 6, 2004 (BUSINESS WIRE) -- U.S. Bancorp (NYSE:USB)

The Financial Careers Institute Project, which includes a new two-year associate degree program at Minneapolis Community and Technical College, officially launches its first class "Principles of Banking and Finance" for U.S. Bancorp employees on Tuesday, Jan. 13. This new banking and finance concentration within the business management degree includes coursework to reflect the skills needed to be successful in multi-ethnic banking and finance settings.

The course will take place Tuesday evenings; the spring term ends in May.

"Principles of Banking and Finance will provide students with an overview of the financial services industry," said Kurt Treu, senior vice president and regional manager for U.S. Bank. "Basic banking principles including the evolution of banking, banking legislation, bank compliance issues, monetary policy, deposit operations, lending functions, and electronic financial services will be covered. Students will also learn the fundamentals of finance as it relates to banking by exploring funds management, bank investments, and calculating and measuring financial performance."

The degree program for multilingual banking and finance employees will help students serve as liaisons within their own communities, working with individual immigrants and other targeted audiences to provide an understanding of banking and personal investment strategies. The project aims to serve immigrants, persons of color, as well as the economically challenged who live and work in the metro area. The Financial Careers Institute offers an opportunity for targeted populations who are interested in banking and finance to reach their goals, and to serve the needs of the community.

The degree program was made possible through a partnership between U.S. Bancorp and Minneapolis Community and Technical College. The Financial Careers Institute received $600,000 in grant funds from the Minnesota Job Skills Partnership (MJSP), a program within the Minnesota Department of Employment and Economic Development (DEED). U.S. Bancorp matched the grant with $600,000 in on-site training and educational resources. The college is working closely with a multi-ethnic taskforce and selected U.S. Bancorp leaders to develop a series of training programs and continuing development of the new degree program. Other newly developed courses will be offered in the fall of 2004.

The program will create a clear educational ladder that allows individuals to move from short-term training for entry level positions into the new degree program offered by the college, which may then transfer into a bachelor's or master's degree program at Metropolitan State University.

Recognizing some of the challenges students who pursue this degree may face, such as finding good child care, efficient transportation, financial support and encouragement, Project for Pride in Living and Goodwill/Easter Seals will work closely with learners to provide a community support system and long-term job retention services.

Minnesota Governor Tim Pawlenty, along with U.S. Bancorp Vice Chairman, Richard Davis and Minneapolis Community and Technical College President, Phillip Davis, announced this initiative earlier in May of 2003.

About Minneapolis Community and Technical College

Minneapolis Community and Technical College provides a comprehensive offering of transfer and occupational programs as well as continuing education opportunities. The college is committed to meeting the educational needs of students by serving a diverse, multicultural community and preparing students to live and work in a democratic society within a changing global community. The college enrolls over 11,000 students annually.

About MJSP

Minnesota Job Skills Partnership offers technical, financial and job training assistance to thousands of businesses, communities, educational institutions and workers. The Job Skills Partnership Board brings businesses with specific education needs together with educational institutions to design training programs to meet those needs.

About U.S. Bancorp

U.S. Bancorp is the parent company of U.S. Bank. 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. Visit U.S. Bancorp on the web at www.usbank.com.

SOURCE: U.S. Bancorp

CONTACT:          Amy Frantti, U.S. Bancorp, 612-303-0733
                  Steve Dale, U.S. Bancorp, 612-303-0784
                  Jill Gebhardt, MCTC, 612-659-6221
                  Carol Walsh, DEED, 651-296-4236

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Copyright (C) 2004 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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