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U.S. Bank Opens Branch Locations Inside Vons Stores in California

LOS ANGELES, Apr 8, 2004 (BUSINESS WIRE) -- U.S. Bank has opened three more branches at Vons stores in southern California this week as part of its on-going expansion into a total of 163 Safeway, Vons and Pavilions locations in California, Arizona and Nevada by the end of 2005.

    The three new locations that opened on April 5 are the:

    --  El Cajon Blvd. Vons at 6155 El Cajon Blvd. in San Diego;

    --  East Manchester Blvd. Vons at 500 E. Manchester Blvd. in
        Inglewood and

    --  West Imperial Hwy Vons at 2101 West Imperial Hwy. in La Habra.

U.S. Bank and Safeway announced plans in September 2003 to open a total of 163 new in-store branches in Safeway and Vons stores in Arizona, California and Nevada. This is the largest in-store expansion and partnership venture in U.S. Bank history. U.S. Bank has the third-largest in-store branch-banking network in the United States and will have a total of 456 in-store branches in 19 states once the expansion is completed.

Safeway Inc. (NYSE:SWY) is a Fortune 50 company and one of the largest food and drug retailers in North America based on sales. The company operates 1,817 stores in the United States and Canada and had annual sales from continuing operations of $35.6 billion in 2003.

U.S. Bancorp (NYSE:USB), with assets of $189 billion, is the 7th largest financial services holding company in the United States. The company operates 2,282 banking offices and 4,472 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

CONTACT:          U.S. Bank 
                  Teri Charest, 612-303-0732
                  teri.charest@usbank.com

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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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