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U.S. Bank and Korean Air Announce Enhanced Benefits for SKYPASS Visa Credit Cards

LOS ANGELES, Nov 12, 2004 (BUSINESS WIRE) -- U.S. Bancorp (NYSE:USB)

The best just got better for customers of U.S. Bank and Korean Air who earn SKYPASS miles with the SKYPASS Visa Credit Card. New benefits have been added to enhance the only Visa cards issued in the United States that earn SKYPASS miles. The enhancements include a bilingual automated, 24-hour account access line with English and Korean capabilities that is the first of its kind nationally. U.S. Bank and Korean Air celebrated these enhancements at a customer recognition ceremony Wednesday, Nov. 10 in Los Angeles.

The added benefits reward cardmembers and enrich their traveling experience on Korean Air. In addition to the bilingual phone line, benefits include no cap on miles, a lower annual fee and bonus miles at renewal. Plus, each year SKYPASS Visa Platinum card members receive double miles on Korean Air ticket purchases, two Korean Air VIP lounge coupons and a $100 discount on a Korean Air ticket purchase.

Launched in February 2002, the SKYPASS Visa allows customers to earn miles for the dollars they charge while enjoying worldwide acceptance, cash access at more than 805,000 ATMs and the superior benefits of Korean Air. The accumulated SKYPASS miles never expire and can be redeemed for free travel rewards on Korean Air and SkyTeam partners. The SKYPASS Visa cards include Platinum, Classic, Secured and SkyBlue with no annual fee for personal use or Business Platinum for business needs.

Credit cards that earn airline miles can be a great resource for the consumer. "Customers can earn rewards every day when they use the SKYPASS Visa cards," said Rob Morris, senior vice president of U.S. Bank Retail Payment Solutions. "It's really a convenient way for customers to earn the miles they need to meet their travel goals while making purchases that they would traditionally make with a regular credit card."

As part of February 2004 launch of the SkyBlue SKYPASS Visa card with no annual fee, U.S. Bank and Korean Air sponsored the SKYPASS Visa Sweepstakes. The winner, announced at the Nov. 10 event in Los Angeles, received two, round-trip, Korean Air business class tickets from the United States to any of the locations worldwide serviced by Korean Air, and $10,000 in spending money.

Customers can pick up a SKYPASS Visa application at any U.S. Bank branch, Korean Air ticket office or airport locations. They can also apply by phone at 1-866-SKYPASS (1-866-759-7277), ext. 3120 or go to www.skypassvisa.com/NM129.

Korean Air, with a fleet of 117 aircraft, is one of the world's top 20 airlines and operates almost 400 flights per day to 85 cities in 29 countries. Korean Air is a founding member of SkyTeam, the global alliance partnering AeroMexico, Air France, Alitalia, CSA Czech Airlines, Delta and as of September 2004, Northwest, Continental and KLM. For more information on Korean Air visit www.koreanair.com.

U.S. Bancorp (NYSE:USB), with $193 billion in assets, 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. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com.

SOURCE: U.S. Bank

U.S. Bank
Teri Charest, 612-303-0732
Amy Frantti, 612-303-0733
"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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