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Thirteen Arizona Nonprofits Receive Grants From U.S. Bancorp Foundation

PHOENIX--(BUSINESS WIRE)--July 28, 2004--Thirteen nonprofit organizations in Arizona were recently awarded more than $56,000 in grants by the U.S. Bancorp Foundation. Hope Levin, regional president for U.S. Bank in Arizona, announced the grants for affordable housing, arts and cultural enrichment, education and financial literacy efforts.

"These organizations are a vital part of the Arizona community and U.S. Bank is honored to support them," said Levin. "All Arizonians are better off when these programs flourish."

    U.S. Bank awarded grants to the following nonprofits:

    --  Arizona Council on Economic Education - to help support
        financial literacy programs in K-12 schools;

    --  Arizona Foundation for Women - to assist with its Arizona
        Bullying Prevention Initiative;

    --  Ballet Arizona - to provide assistance with general operating
        expenses for performances of "The Nutcracker";

    --  Boys Hope Girls Hope of Arizona - for its education,
        mentoring, self-sufficiency, and counseling of at-risk teens,
        which focuses on preparing teens for post-secondary education;

    --  Consumer Credit Counseling Services - to support Get Checking
        and financial education programs;

    --  Habitat for Humanity, Valley of the Sun - to support its
        mission of providing home ownership opportunities to
        low-income families;

    --  HomeBase Youth Services, Inc. - to assist with its
        Transitional Living Program, a 25-bed transitional housing
        program for homeless youth;

    --  Homeward Bound - to help fund its mission of providing housing
        and economic independence for low income families, especially
        those effected by domestic violence;

    --  Junior Achievement of Arizona, Inc. - to help fund the
        Exchange City program that will help 420 fifth and sixth grade
        students to participate in the program and learn first hand
        the skills they will need to be successful in the workforce;

    --  KAET Channel 8 - to support its public television programs;

    --  Neighborhood Housing Services of Phoenix - to help provide
        funding for its home ownership opportunities for low- to
        moderate-income families;

    --  NewTown Community Development Corporation - to support an
        Individual Development Accounts program for homeownership
        where low and moderate-income first time homebuyers earn
        matching funds on the money they save toward a down payment on
        a home; and

    --  The Phoenix Symphony - to support all symphony programs.

U.S. Bancorp (NYSE:USB), with assets of $190 billion, is the 6th largest financial services holding company in the United States. The company operates 2,315 banking offices and 4,565 ATMs, 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. Bancorp
             Amy Frantti, 612-303-0733

    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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