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U.S. Bancorp Foundation Awards More Than $500,000 in Grants to Twin Cities Community Groups

MINNEAPOLIS, Feb 5, 2004 (BUSINESS WIRE) -- Ten non-profit organizations in the Minneapolis and Saint Paul area are receiving a total of more than $500,000 in contributions from the U.S. Bancorp (NYSE:USB) Foundation. "These organizations have an important role in the Twin Cities community," said Teresa Bonner, director of the U.S. Bancorp Foundation. "By supporting them, U.S. Bank is doing its part to help make the Twin Cities community a great place to live and work."

The U.S. Bancorp Foundation is awarding grants to the following Twin Cities community groups:

    --  Accessible Space, Inc. - for general operating support, which
        will help this community group provide accessible, affordable,
        independent and supportive living opportunities for persons
        with physical disabilities and brain injuries, as well as
        seniors;

    --  Artspace Projects, Inc. - to assist with general operating
        support expenses which will assist Artspace Projects with
        creating, fostering and preserving affordable space for
        artists and arts organizations;

    --  Community Reinvestment Fund (CRF) - for general operating
        support which will help CRF provide capital to lenders,
        service loans made by community development lenders, and
        provide technical assistance and training to lending
        organizations;

    --  East Side Neighborhood Development Company, Inc. - to help
        provide general operating funds that will assist this group of
        diverse people and businesses committed to creating a
        prosperous multi-racial neighborhood on St. Paul's East Side;

    --  Family Housing Fund of Minneapolis and Saint Paul - for
        general operating support; the grant will assist this
        nonprofit whose mission is to preserve and expand quality
        affordable housing for families with low and moderate incomes
        in the seven county metropolitan area of Minneapolis and Saint
        Paul;

    --  HOPE Community, Inc. - for general operating support; HOPE
        Community's local connection helps provide affordable housing
        in one of the most diverse and economically challenged areas
        in Minneapolis;

    --  Local Initiatives Support Corporation - Twin Cities - for
        general operating support. This nonprofit intermediary
        channels financial and technical support to community
        development corporations throughout the country. The Twin
        Cities local office has worked for over a decade to revitalize
        struggling communities in and around Minneapolis and Saint
        Paul;

    --  MacPhail Center for Music - for capital support for its new
        building to be located in Minneapolis;

    --  Minnesota FoodShare - for general operating support which
        helps the organization fight hunger in Minnesota; and

    --  Project for Pride in Living, Inc. - for capital support for
        its service center and headquarters.

U.S. Bancorp, with assets of $189 billion, is the 8th largest financial services holding company in the United States. The company operates 2,243 banking offices and 4,425 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
                  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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