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NOVA to Expand International Presence Through euroConex Purchase
NOVA to Buy Remaining euroConex Shares from Bank of Ireland euroConex to Become Wholly-Owned Subsidiary

ATLANTA & DUBLIN, Ireland--(BUSINESS WIRE)--April 28, 2004--NOVA Information Systems (NOVA), a subsidiary of U.S. Bancorp (NYSE:USB - News), today announced that a European-owned affiliate of NOVA has entered into a definitive agreement for the purchase of the remaining 50 percent shareholding position of euroConex Technologies Ltd (euroConex) from Bank of Ireland. EuroConex will become a wholly-owned subsidiary of the NOVA affiliate.

EuroConex provides debit and credit card processing services to merchants, directly and through alliances with banking partners in the European market. In addition, euroConex provides a range of multi-currency solutions including Dynamic Currency Conversion (DCC), delivering a scalable and flexible model for cross-border acquiring. Over the last three years, euroConex has achieved strong growth in Ireland and the UK and has established a significant presence in selected European markets.

The alliance between euroConex and Bank of Ireland has been a successful example of the efficient outsourcing of a merchant card payment acceptance services. Bank of Ireland will maintain their card scheme sponsorship of euroConex for merchant acquiring for the continued growth and development of their merchant base.

"The euroConex model of forming alliances with financial institutions and European payment processors has proven to be beneficial for all parties," said Billy Saunderson, Chief Executive Officer, euroConex. "As a result, we are able to better deliver solutions and services tailored to address domestic, intra-regional and international market needs."

"This transaction is a significant milestone in NOVA's strategy to become a major pan-European payment processor, through our euroConex affiliate," said Edward Grzedzinski, CEO, NOVA Information Systems and Chairman, euroConex. "EuroConex's growth objectives are strategically aligned with NOVA's proven model of expansion in the US; this investment reflects the confidence and commitment of both companies to our ongoing success."

About euroConex

euroConex Technologies, Ltd, is a joint venture of U.S. Bancorp (NYSE:USB - News) and Bank of Ireland. euroConex is headquartered in Ireland with two locations, at the IDA Business Park, Arklow, Co. Wicklow and Cherrywood, in south Dublin. The company provides an integrated payments processing service to financial institutions and merchants in Ireland, the UK and in selected European markets using a multi-currency platform. In addition to POS, IPOS and eCommerce solutions, euroConex also provides a range of specialist multi-currency products including Dynamic Currency Conversion (DCC). For more information visit www.euroconex.com.

About NOVA

NOVA Information Systems, a leader in the payment processing industry, is a wholly owned subsidiary of U.S. Bancorp (NYSE:USB - News). NOVA partners with financial institutions, independent sales organizations, associations, government agencies and community banks to offer integrated payment processing services to their merchants and retailers. NOVA's products include credit and debit card processing services, software applications, electronic check conversion, gift card solutions and other value-added services to more than 650,000 merchant locations in the United States and Europe. For more information visit www.novainfo.com.

     NOVA Information Systems
     Michelle Graff, 678-731-5964
     Willie Byrne, + 353 1 2390 208

Source: NOVA Information Systems
"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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