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U.S. Bancorp Equipment Finance Selects Don Kenworthy as a Regional Vice President of Its Capital Equipment Group

PORTLAND, Ore., Apr 12, 2004 (BUSINESS WIRE) -- U.S. Bancorp Equipment Finance, Inc., the unit of U.S. Bancorp that finances and leases business equipment acquisitions, has selected Don Kenworthy for its capital equipment group as a regional vice president.

Kenworthy has been with U.S. Bancorp since 1988, most recently serving as a regional vice president of the company's machine tool finance group.

In his new role, he will manage a sales staff of 15 area managers whose territories cover the Western states of Washington, Oregon, California, Idaho, Utah and Arizona. The capital equipment group operates as a general equipment lessor in the middle and upper middle markets in most industry sectors nationwide.

"Don has had 16 very successful years of growing assets for U.S. Bancorp Equipment Finance, Inc., first, during his 12 years as a sales representative in the Seattle market with our capital equipment group, and then while a regional manager for four years with our machine tool finance group," said Greg Mamula, executive vice president of the U.S. Bancorp Equipment Finance Capital Equipment Group. "We're very pleased to have Don back in the Capital Equipment Group as a member of our management team."

Kenworthy earned a bachelor's degree from Southern Oregon University in Ashland, Ore. He and his wife, Debi, live in West Linn, Ore.

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. Bancorp

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

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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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