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U.S. Bank and Safeway ``Go for the Grand''; Safeway Customers Can Register to Win $10,000 at Select Safeway Stores in Phoenix Area

PHOENIX--(BUSINESS WIRE)--June 4, 2004--U.S. Bank is ready to give away up to $500,000 to celebrate the openings of five new U.S. Bank branches at Safeway (NYSE:SWY) stores in the Phoenix area on Monday, June 7.

"The team at U.S. Bank is very excited about these new branch openings, and presenting an opportunity for area residents to win $10,000 is a great way to share our enthusiasm with the community," said Hope Levin, regional president of U.S. Bank in Arizona.

People can register to win at U.S. Bank branches in participating Safeway locations June 7 through Saturday, July 24. Each branch location will randomly select ten finalists on Monday, July 26. In August, the ten lucky people whose names are drawn will attend a special event at the store where they registered. At the event, U.S. Bank and Safeway will provide each of the ten contestants with a list of seven items sold at Safeway. Contestants will need to arrange the items on the list so they match a confidential, pre-determined "official" Safeway shopping list. If a contestant's list matches the official Safeway shopping list, the contestant will be awarded $10,000. All ten finalists at each location will receive a $100 Safeway Gift Card. See entry form for contest rules and regulations.

People can register to win at any of the following U.S. Bank branches that will open inside Safeway stores on June 7:

    --  3185 West Apache Trail, Apache Junction;

    --  5137 East Baseline Road, Gilbert;

    --  1960 West Main Street, Mesa;

    --  3622 East Southern Ave., Mesa; and

    --  2740 East University, Mesa.

These new locations will make a total of 35 U.S. Bank in-store and traditional branches in the Phoenix area. They will be open seven days a week like all U.S. Bank traditional and in-store branches in Arizona. Hours of operation are Monday through Saturday from 10 a.m. until 7 p.m., and from noon until 5 p.m. Sundays.

In September 2003, U.S. Bank and Safeway announced plans to open a total of 163 new in-store branches in Safeway and Vons stores in Arizona, California and Nevada through fourth quarter 2005. This is the largest in-store expansion and partnership venture in U.S. Bancorp 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 Safeway/Vons expansion is completed.

Safeway Inc. is a Fortune 50 company and one of the largest food and drug retailers in North America based on sales. The company operates 1,808 stores in the United States and Canada and had annual sales from continuing operations of $35.6 billion in 2003.

U.S. Bank operates 25 in-store branches, five traditional branches and 25 ATMs in Arizona. 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.


    CONTACT: U.S. Bank
             Amy Frantti, 612-303-0733

    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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