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U.S. Bank Internet Banking Rated #1 by Speer and Associates; Follows Similar High Marks by Change Sciences for Customer Usability and Convenience

MINNEAPOLIS, Mar 1, 2004 (BUSINESS WIRE) -- U.S. Bancorp received the number one rating by Speer and Associates for U.S. Bank Internet Banking at usbank.com. U.S. Bancorp tops a list of 79 financial institutions in North America and Latin America surveyed by Speer and Associates in December 2003, the results of which were released in February 2004.

Speer and Associates, which examines the business development and transactional capabilities of retail Internet offerings, said in its report, "Key components elevating U.S. Bancorp include opt-in messaging, enhanced online support, and comprehensive product descriptions/transactional capabilities for a complete range of products including insurance."

U.S. Bank and those in the "Multi Regional" segment, "continue to introduce innovative technology and build competitive differentiation, focusing on improved convenience to customers through an Internet offering," Speer and Associates noted. "U.S. Bancorp, the new top ranked site, has made numerous enhancements enabling improved convenience to its users via frequently asked questions for major product lines ranging from trust to insurance. New features include adding certificates of deposits to online access, the ability to apply online and the ability to track account openings. The wide breadth of applications makes this site both useful and informative."

The first place ranking by Speer and Associates comes on the heels of the Change Sciences First Quarter 2004 report, Inside Online Banking, that ranked U.S. Bank fourth out of 10 Internet banking sites in the United States. They evaluated each online application's ease of use, including customer tasks such as logging in, checking recent transactions, adding a payee, making a one-time payment, making a recurring payment, checking the status of a payment and logging out.

"Our goal is to deliver the financial management functions that our customers want in a way that is easy and intuitive. For example, our customers told us that making Internet Bill Pay available free of charge was important to them, and it's for that exact reason that we rolled out free Internet Bill Pay in December. We strive for the best user experience, which is true for all banking channels whether through the branch, the ATM, the telephone or Internet Banking," said Linda Garner, senior vice president of information delivery systems at U.S. Bank.

U.S. Bank has seen a significant increase in the number of customers using Internet Bill Pay since it began offering it free of charge in December. U.S. Bank will introduce a new round of enhancements to Internet Banking in May.

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


CONTACT:          U.S. Bank 
                  Teri Charest, 612-303-0732

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"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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