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U.S. Bank to Break Ground for Coeur d'Alene Service Center; School Kids Asked to Turn the First Shovels Honoring the Future of Coeur d'Alene

COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Aug. 5, 2004--U.S. Bank and leaders from state and local government will join members of the community in a celebration to break ground at the site of what will soon be a new U.S. Bank service center in Coeur d'Alene, Idaho.

The groundbreaking is scheduled for Tuesday, Aug. 10 at 10:30 a.m. PT at the site, 3886 West Seltice Way in Coeur d'Alene. Special guests from state and local government agencies, the community and leaders from U.S. Bank will offer congratulations and well wishes as construction begins.

Unlike traditional groundbreaking ceremonies, U.S. Bank will honor the future of Coeur d'Alene by asking a group of school children to move the first dirt with mini-shovels and youth-filled enthusiasm.

"We thought it would be appropriate to recognize the role that this service center plays in the future of Coeur d'Alene. What better way to do that than by featuring kids at the groundbreaking, in hopes that 50 years from now they can tell their grandchildren about the day they helped create this thriving center," said Rick Barton, president of U.S. Bank in North Idaho.

Following a national site selection search, U.S. Bank announced in May plans to build a new service center in the Coeur d'Alene area that 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.

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

U.S. Bancorp (NYSE:USB), with $190 billion in assets, is the 6th largest financial services holding company in the United States. The company operates 2,315 banking offices and 4,565 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 in which the company pays customers if certain key banking benefits and services are not met. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com.

    CONTACT: U.S. Bank Media Relations
             Teri Charest, 612-303-0732

    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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