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Arizona Community Groups Receive Grants from U.S. Bancorp Foundation

PHOENIX, Jan 6, 2004 (BUSINESS WIRE) -- Five non-profit organizations in Arizona were recently awarded more than $27,000 in grants by the U.S. Bancorp (NYSE:USB) Foundation. Amy Hurd, regional manager for in-store banking at U.S. Bank in Arizona, announced the economic opportunity, education and artistic and cultural enrichment grants.

"These community groups provide much needed services and programs for many people in our community," said Hurd. "The people of U.S. Bank in Arizona are glad to support these organizations."

    Grants were awarded to the following groups:

    --  Arizona Council on Economic Education - to assist with
        financial literacy programs in K-12 schools;

    --  Consumer Credit Counseling - for its Get Checking program
        designed to help consumers without a primary banking
        relationship gain access to basic financial services, namely
        deposit accounts;

    --  NewTown Community Development Corporation - to support an
        Individual Development Account program for homeownership,
        which helps low- and moderate-income first time home buyers
        earn matching funds on the money they save toward a down
        payment on a home;

    --  Phoenix Boys Choir - to provide support for The Latino
        Outreach and Recruitment program, a multi-year initiative
        which will include development of Latino parent mentoring,
        bilingual translation of choir resources, Latino choirboy
        scholarship and more; and

    --  West Valley Fine Arts Council - to help fund a Native American
        arts festival, which is important for community outreach and
        the promotion of their heritage of Native American artists.

U.S. Bancorp, 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 www.usbank.com.

SOURCE: U.S. Bancorp

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

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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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