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Parenting is Now Even More Rewarding with Launch of Gymboree Visa Platinum Card

U.S. Bank, The Gymboree Corporation Partner to Offer Cardholders Gymboree Retail Savings, Exclusive Events, Promotions

MINNEAPOLIS and BURLINGAME, Calif., Apr 26, 2004 (BUSINESS WIRE) -- U.S. Bank and The Gymboree Corporation have partnered to create the Gymboree(R) Visa(R) Platinum Card, the first co-branded credit card offered by a children's apparel retailer. Cardholders will benefit from Gymboree retail discounts and will gain access to exclusive events and promotions. Card applications are available beginning April 27 via the Internet, at all Gymboree retail stores nationwide and select U.S. Bank branches.

The new card enables customers to receive a five percent discount on merchandise purchased at domestic Gymboree retail locations and online at www.gymboree.com. The Gymboree Visa card will also provide cardholders with exclusive access to Gymboree events throughout the year, such as double discount days, sneak previews of new lines, and special promotions. In a unique twist on photo credit cards, cardholders will have the option to add a photograph of their child, a fun way of personalizing their card.

"With the launch of the Gymboree Visa Platinum Card, we will be able to provide our loyal customers with tailored events and promotions, and offer compelling incentives to attract new customers," said Lisa Harper, The Gymboree Corporation's chairman and chief executive officer.

In addition to the five percent discount, cardholders will also receive a $10 enrollment bonus for use at a Gymboree retail store or online. In addition, one percent of all card purchases made outside of a Gymboree store will be paid back annually in the form of a Gymboree gift card each November.

"We've learned from our long history in the co-branded card arena that consumers want choices and they are increasingly savvy in choosing cards that offer rewards to fit their lifestyle," said Patricia Wesner, executive vice president of retail payment solutions at U.S. Bank. "That's why we are particularly pleased to partner with Gymboree and offer a whole new category of reward options. We're very proud of our new relationship with Gymboree and look forward to serving their very loyal customer base nationwide."

Those interested in applying for the Gymboree Visa Platinum Card may do so starting April 27 at any Gymboree retail location in the United States, at select U.S. Bank branches, on the Internet at www.gymboreevisa.com/gvp12, or by phone at 1-888-444-9999 extension 2015.

The Gymboree Corporation's (Nasdaq:GYMB) specialty retail brands offer unique, high-quality products delivered with personalized customer service. As of April 3, 2004, the Company operated a total of 626 stores: 590 Gymboree(R) retail stores (539 in the United States, 28 in Canada, and 23 in Europe), 35 Janie and Jack(R) retail shops and 1 Janeville(TM) store in the United States. The company also operates online stores at www.gymboree.com and www.janieandjack.com, and offers directed parent-child developmental play programs at 532 franchised and company-operated centers in the United States and 25 other countries. The Gymboree Corporation is headquartered in Burlingame, Calif.

U.S. Bancorp (NYSE:USB), with assets of $192 billion, is the 7th largest financial services holding company in the United States. The company operates 2,275 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.

MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=4625656

SOURCE: U.S. Bancorp

CONTACT:          U.S. Bank Media Relations
                  Teri Charest, 612-303-0732
                  The Gymboree Corporation
                  Jennifer Bonzagni, 650-373-7637

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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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