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U.S. Bank Announces Plans to Build New Call Center and Create 500 Jobs in Coeur d'Alene

COEUR D'ALENE, Idaho, May 4, 2004 (BUSINESS WIRE) -- U.S. Bancorp (NYSE:USB)

Following a national site selection search, U.S. Bank announced today plans to build a new service and call center facility in the Coeur d'Alene area, which will create up to 500 new jobs over the next five years. The new 60,000 square foot facility will support U.S. Bank's growing retail payment solutions division, which includes debit, small business and consumer credit card accounts.

Rick Barton, region president of U.S. Bank in North Idaho/Palouse, commented, "This is a great example of how teamwork can make something positive happen for both U.S. Bank and the Coeur d'Alene community. The combined support and involvement of Idaho Governor Dirk Kempthorne, Coeur d'Alene Mayor Sandi Bloem and members of the city council, Commerce and Labor Director Roger Madsen, Steve Griffitts, president of Jobs Plus, Inc. and Tom Johnson and Cliff Mort, owners of Neighborhood Inc., which is developing the Mill River community are why we decided to increase our investment in this region with our new facility."

Construction on the more than $15 million project is slated to start this summer with an anticipated completion date of early 2005. U.S. Bank's retail payment solutions will now have two major call centers to help customers, one in Coeur d'Alene and one in Fargo, North Dakota. The new jobs and call center will add to the current U.S. Bank presence of 90 full service branches and 900 employees in Idaho.

"We are very excited that U.S. Bank is growing in Coeur d'Alene," noted Governor Kempthorne. "I want to be the first to welcome these new jobs to our state and say that we are proud that U.S. Bank identified Idaho as the best place in the country to establish their new facility."

Griffitts remarked, "Today's announcement by U.S. Bank is the culmination of a coordinated effort which included officials from the City of Coeur d'Alene, the State of Idaho, business leaders in the private sector and the board and staff of Jobs Plus."

The call center will be located on the northeast corner of the Mill River development, which lies between Seltice Way and the Spokane River. Tom Johnson and Cliff Mort, owners of this development worked closely with the Lake City Development Corporation led by Tony Berns.

Roger Madsen, the Director of Commerce and Labor added, "The State of Idaho is focused on investing in its greatest resource, its people. Idaho's Work Force Development Training Fund is set up to ensure that companies and employees are rewarded for expansion and advancement."

Barton added, "The pro-business environment in Coeur d'Alene combined with a skilled and available labor force, access to workforce training and higher education, and U.S. Bank's existing presence in the market were key factors in our decision to build the call center here."

U.S. Bancorp is the parent company of U.S. Bank. 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. Visit U.S. Bancorp on the web at www.usbank.com.


CONTACT:          U.S. Bank
                  Steve Dale, 612-303-0784

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"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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