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Greg Seibly Joins U.S. Bank as Head of Commercial Banking in California

LOS ANGELES, Jan 15, 2004 (BUSINESS WIRE) -- J. Gregory (Greg) Seibly has joined U.S. Bank as executive vice president and will be responsible for the organization's commercial banking division in California. U.S. Bank's commercial banking division in California includes operations in Greater Los Angeles, San Diego, Northern California and Orange County, all of which will report to Seibly. David I. Rainer, executive vice president of U.S. Bank's commercial banking-west region made this announcement recently.

Rainer noted, "We are very pleased to be able to attract someone of Greg's talent and caliber to join our team of outstanding bankers here in Los Angeles and to head up our commercial banking operations in a very important and growing state in our franchise. A long time resident of Southern California, Greg also brings his knowledge of the local banking market to our organization and shares U.S. Bank's commitment to quality customer service."

Seibly, age 40, previously was executive vice president and division manager of Wells Fargo Bank, N.A.'s Greater Los Angeles/Nevada division of commercial banking. Before that he was with Bank of America, N.A. in Los Angeles, where he served as managing director and head of healthcare credit products in Los Angeles. Seibly's banking career also includes positions with ABN Amro Bank in Pennsylvania and PNC Bank in California, Pennsylvania and Texas.

A graduate of Indiana University in Bloomington, Indiana, Seibly is very active in the Los Angles community. He is a member of the board of directors of The Weingart Center, Special Olympics of Southern California, Los Angeles Economic Development Corporation, the Kayne-Eras Center and is a member of the executive committee of the Central City Association.

Seibly will have offices in the newly named U.S. Bank Tower (formerly Library Tower) located in the central business district in Los Angeles. U.S. Bank has 217 full-service banking offices in California.

Seibly resides in La Canada Flintridge with his wife Claire and their three children.

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 usbank.com.

MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=4550866

SOURCE: U.S. Bank

CONTACT:          U.S. Bank
                  Steve Dale, 612-303-0784
                  Karen Greenwood, 612-303-0731

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Copyright (C) 2004 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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