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U.S. Bank Repeats as California's Leading SBA Lender in FY 2004

LOS ANGELES--(BUSINESS WIRE)--Nov. 9, 2004--U.S. Bank, one of America's leading Small Business Administration (SBA) lenders, is again California's leading SBA lender based on loan dollar volume for fiscal year 2004. It is the third consecutive year that U.S. Bank has led SBA lenders in California. U.S. Bank is also the top lender in the Los Angeles and Santa Ana SBA districts.

Through its SBA Division, U.S. Bank provided overall SBA loans of $176,913,300 to 400 small businesses statewide, based on information provided by the SBA. U.S. Bank outpaced Bank of America ($126,529,000) and Wells Fargo Bank ($114,412,500) in SBA guaranteed loans made through the SBA's six California district offices. According to the SBA, 12,248 California small businesses received $2,647,141,853 in SBA loans from 196 lenders during FY 2004, which ended Sept. 30.

Based on dollar volume, U.S. Bank is the leading SBA lender in two California SBA Districts: Los Angeles District ($96,316,000), and Santa Ana District ($32,778,600). U.S. Bank is third in San Francisco District ($30,671,500).

"We are especially pleased to be the leading SBA lender in California again as we had to overcome both a five week SBA shutdown as well as a restrictive loan cap during 2004," said David Bartram, president of U.S. Bank's SBA Division. "Our number one status is largely due to a growing business referral network within our bank and we expect these internal relationships to expand and mature in 2005 as well," Bartram added.

Nationwide, U.S. Bank broke a record with overall SBA guaranteed loans of $445,227,400 to 2,188 small businesses in FY 2004, a 3.2 percent increase over FY 2003. U.S. Bank ranks fourth among SBA bank lenders and fifth among both bank and non-bank SBA lenders, according to SBA information.

U.S. Bank ranks in the top five by loan dollar volume in 15 of 26 SBA Districts where it operates. It ranks first in Minnesota and St. Louis, second in Kansas City, Portland and Seattle, third in San Francisco, fourth in Kentucky, Nevada, Spokane and Tennessee and fifth in Arizona, Colorado and San Diego. U.S. Bank also ranked in the top five in number of loans in 15 of the 26 SBA Districts where it operates. It ranked first in St. Louis, second in Kansas City, Minnesota, Portland and Seattle, third in Colorado Kentucky, Nevada, Tennessee and Wisconsin, fourth in Boise, Cleveland, Illinois and Spokane and fifth in Columbus/Cincinnati and Utah.

Through SBA Division, U.S. Bank operates six specially designated SBA Business Centers in California and 25 nationwide. U.S. Bank is part of U.S. Bancorp (NYSE:USB). With $193 billion in assets, U.S. Bancorp is the 6th largest financial services holding company in the United States. The company operates 2,346 banking offices and 4,621 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. Visit U.S. Bancorp on the web at www.usbank.com.

    CONTACT: U.S. Bank
             Teri Charest, 612-303-0732
             U.S. Bank SBA
             Brian Butler, 858-536-4545 x204

    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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