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U.S. Bank Promotes Two Commercial Bankers in Portland

PORTLAND, Ore.--(BUSINESS WIRE)--Oct. 6, 2004--U.S. Bancorp (NYSE:USB)

U.S. Bank has promoted Steven Isaak to the position of senior vice president in commercial banking for U.S. Bank in Oregon. The company has also promoted Michelle Weisenbach to the position of vice president and manager in commercial banking. Both will lead divisions of commercial banking, reporting to the newly-named head of Oregon commercial banking, Malia Wasson.

Isaak has been with U.S. Bank for 14 years and manages a regional team of commercial lenders focused on lending to businesses in the Portland/Vancouver metropolitan market. He has worked for U.S. Bank in a number of positions in the commercial banking group.

A graduate of the University of Oregon, Isaak earned a bachelor's degree in finance and marketing, and is a certified cash manager. Isaak is active in the community and coaches youth sports.

Weisenbach manages a regional team of commercial lenders focused on lending to businesses in the Portland/Vancouver metropolitan market. Weisenbach has been with U.S. Bank since 2002, coming to the company from GMAC-RFC Health Capital where she was an executive vice president of marketing. Prior to GMAC-RFC Health Capital, Weisenbach worked in commercial banking in Portland for thirteen years.

A graduate of the University of Oregon, Weisenbach holds a bachelor's degree in finance and management, and is a graduate of the Pacific Coast Banking School.

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 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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