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U.S. Bank Provides Free ATM Access to Electronic Benefit Transfer Recipients in California

LOS ANGELES, Mar 2, 2004 (BUSINESS WIRE) -- U.S. Bank is helping California residents stretch their California welfare benefits by waiving the non-account holder access fee at all U.S. Bank ATMs in the state.

The Electronic Benefit Transfer (EBT) is the automation of cash welfare payments. EBT is an alternative to a paper-based, manual benefit issuance and provides for the transfer and use of welfare benefits through point-of-sale devices and ATMs. This system is now in place in most California counties.

"Waiving the ATM access fee helps Californians keep more of their payments at a time when every dollar counts," said Greg Seibly, market president for U.S. Bank in California. "We're grateful to have worked with such outstanding partners to bring this positive change to fruition."

U.S. Bank has been working on this project with the California Reinvestment Committee (CRC), a San Francisco-based economic development organization. CRC Executive Director Alan Fisher said, "We are pleased to see U.S. Bank take this important step in reaching out to low-income California residents."

More than 3,000 people have taken advantage of the free U.S. Bank ATM usage since the enhancement went into effect in mid-January. U.S. Bank has a growing presence in California with 234 branch offices and 284 ATMs throughout the state from Crescent City to Chula Vista.

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 2,243 banking offices and 4,425 ATMs in 24 states 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. Bank Media

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

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Copyright (C) 2004 Business Wire.  All rights reserved.

SOURCE: U.S. Bank Media

"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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