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U.S. Bank Becomes a Preferred Lender for FreedomRoads, L.L.C.

MINNEAPOLIS & CHICAGO--(BUSINESS WIRE)--July 19, 2004--U.S. Bank Recreation Finance has signed an agreement with FreedomRoads L.L.C. to be one of its preferred lenders. FreedomRoads, formerly Holiday Holdings, is the largest RV retailer in the United States, operating 44 locations in 18 states.

Customers of FreedomRoads dealers will have access to wide variety of financing plans through U.S. Bank because of its preferred lender status. The financing is also backed with the exclusive U.S. Bank Five Star Service Guarantee, which means that U.S. Bank will pay the customer if it fails to deliver on certain guaranteed service promises.

"Service is a priority at U.S. Bank, so much so that we back it with a guarantee if we fail to deliver," said Sean Torrence, vice president and regional sales manger of U.S. Bank Recreation Finance. "Our goal is to bring customers the highest level of service that they expect from a financial institution and we are excited to bring that service attitude to FreedomRoads dealers and their customers. We are constantly looking for ways to assist our clients with their retail financing needs. Both our standard and custom plans will provide value and satisfaction to FreedomRoads as they offer programs to their customers."

"Competitive lending programs are integral to the success of the RV dealership in today's competitive marketplace. We have chosen to align our company with the people at U.S. Bank because of their leadership in the RV industry and dedication to customer service. This partnership enables FreedomRoads to provide our customers with a competitively priced, quality finance experience," said Marcus Lemonis, chairman and chief executive officer of FreedomRoads, L.L.C.

FreedomRoads is a national network of RV dealerships that have united to benefit customers, associates, suppliers and the RV industry. FreedomRoads operates as a multi-store retail chain engaged in the retail sale, finance and service of recreational vehicles. FreedomRoads is the largest RV retailer in the United States, operating 44 locations in Ala., Calif., Colo., Fla., Ill., Ind., N.H., N.J., N.M., N.Y., N.C., Ohio, Pa., S.C., Tenn., Texas, Utah and Wash. FreedomRoads stocks more than $250 million in new and used inventory representing more than 18 brands. Each of its 44 locations provide a comprehensive service and parts departments for their customers' convenience during family travels. Visit FreedomRoads on the web at www.freedomroads.com.

U.S. Bank is a part of U.S. Bancorp (NYSE: USB). With assets of $192 billion, U.S. Bancorp is the 6th 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
             Teri Charest, 612-303-0732

    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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