MINNEAPOLIS--(BUSINESS WIRE)--Sept. 7, 2004--A one-of-a-kind phenomenon will roll into the Twin Cities on Sept. 7 bringing homeownership opportunities and financial services to residents in a way that no other bank has approached the metropolitan area. The Five Star Service Express, sponsored by U.S. Bank Home Mortgage, Freddie Mac and the Community College Foundation, will launch its tour with a celebration on Peavey Plaza in downtown Minneapolis Tuesday, Sept. 7 at noon.

The Five Star Service Express is the size of a city bus and has been converted into an Internet-ready, financial service center that will travel to Minneapolis and St. Paul neighborhoods for approximately five to six weeks in September and October.

A team of bankers, mortgage professionals and small business specialists will partner with representatives from neighborhood non-profit organizations to promote financial education and homeownership in an informal and relaxed atmosphere, welcoming conversations and questions about any financial dream or goal. There will be bilingual representatives who can communicate in the predominant language spoken in each neighborhood. U.S. Bank Human Resource professionals will also be available to discuss job opportunities.

"We hope to hear from individuals who want to own their first home, start or expand their family business or maybe even get their credit history back on track," said Ed Shanks, executive vice president of U.S. Bank Home Mortgage and project coordinator. "We will advise them, help them plan and can even take an online application or open a checking or savings account if they're ready to take that step."

The bus will stop at several events including the: kickoff at Peavey Plaza in Minneapolis on Sept. 7; Minneapolis Farmers Market on Sept. 11; Mexican Independence Day Celebration on Lake Street in Minneapolis on Sept. 12; Payne Avenue International Harvest Festival in St. Paul on Sept. 18-19 and Third Annual Hmong Resource Fair in St. Paul on Sept. 25.

The Community College Foundation developed the eBus concept as a way to bridge the growing digital divide across the country. Recognizing its potential for providing bilingual access to financial services, credit education, and affordable mortgages, Freddie Mac is launching these Internet-ready buses with select lenders, including U.S. Bank Home Mortgage. U.S. Bank Home Mortgage is the first sponsor the bus in the Minneapolis, St. Paul area.

"Misconceptions and misinformation about mortgages and home buying keep too many families from achieving the American Dream in Minnesota and the Midwest," said David Stevens, senior vice president of single family lending at Freddie Mac. "The Five Star Service Express is unique because it brings bilingual homeownership information, banking and mortgage services to people where they live, work, pray or play. Freddie Mac is proud to join with U.S. Bank and the Community College Foundation to put more families on the road to successful homeownership."

"The Community College Foundation currently operates eBuses across the country--providing education and community development through technology and Internet access. Most of us take for granted the use of computers in our day-to-day lives. But for many people caught in the digital divide, the economic, educational and social benefits of the digital world are not a reality. We are thrilled that our latest eBus will be used to assist with the dream of home ownership for families in the Twin Cities area and excited to be partners in this tremendous initiative with Freddie Mac and U.S. Bank," said David Springett, president of the Community College Foundation.

The Five Star Service Express will continue from the Twin Cities into the Milwaukee area in October, followed by tours of St. Louis and Kansas City.

About Freddie Mac

Freddie Mac is a stockholder-owned corporation chartered by Congress in 1970 to create a continuous flow of funds to mortgage lenders. By supplying lenders with the money to make mortgages and packaging the mortgages into marketable securities, Freddie Mac sustains a stable mortgage credit system and reduces the mortgage rates paid by homebuyers. Over the years, Freddie Mac has made home possible for one in six homebuyers in America and two million renters. More information on Freddie Mac can be found on the company's website located at www.freddiemac.com.

About the Community College Foundation

Since 1983 The Community College Foundation, a program-based 501(c)3 based in Sacramento, California, has been dedicated to providing enhanced social, economic and education community opportunities. With a staff of more than 300 employees and programs across the United States, the foundation fosters creative relationships between business, education and government. The far-reaching scope of the foundation is evident through its widely diverse programs, which include technology training, life skills education for at-risk youth, employment development, foster youth and family services, environmental education and student internships. Learn more about the eBus and The Community College Foundation at www.communitycollege.org or by calling (916) 418-5100.

About U.S. Bank

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 2,344 banking offices and 4,578 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
             Teri Charest, 612-303-0732
             teri.charest@usbank.com

    SOURCE: U.S. Bank