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MoneyGram Now Available in 372 U.S. Bank Locations

MINNEAPOLIS--(BUSINESS WIRE)--Nov. 18, 2004--U.S. Bank has extended the availability of its MoneyGram money transfer services by offering it in Seattle and the Twin Cities (Minneapolis and St. Paul, Minn.) in addition to Chicago, Milwaukee, Madison, Los Angeles and San Diego. MoneyGram is now available in 372 locations and is on track to be available in all 2,346 U.S. Bank offices by mid-2005.

U.S. Bank is MoneyGram's largest bank affiliate in the United States. The two Minnesota-based companies announced an agreement in June to provide international money transfer services through U.S. Bank branch offices to make the popular service more convenient.

"We've seen transfers sent to 63 countries in just the first few months that MoneyGram has been available at U.S. Bank, which demonstrates the importance of the remittance business throughout the world. Additionally, 45 percent of outbound transactions have been sent within the United States and 30 percent of all transactions have served consumers receiving funds inside U.S. Bank branches, solidifying our goal to serve a variety of customers' needs," Steve SaLoutos, senior vice president of emerging markets for U.S. Bank.

The price to send a MoneyGram transfer through U.S. Bank varies based on the dollar amount being transferred and the destination. For example, a $300 transfer from Minneapolis to Mexico is $9.49. MoneyGram also offers an excellent exchange rate, which directly benefits the customer. MoneyGram has more than 70,000 outlets in 160 countries, including more than 6,000 outlets in Mexico alone.

The addition of the MoneyGram network opens additional outlets in Mexico and access to 160 other countries, including some of the most reputable financial and retail locations in the world. MoneyGram complements existing money transfer capabilities at U.S. Bank and provides greater flexibility for current and prospective customers who wish to send money safely and quickly to friends, family or associates in all parts of the world.

In 2003, U.S. Bank launched two low-cost money transfer solutions targeted to metropolitan and rural areas of Mexico. The card-based Secure Money Transfer product and relationship with Mexico's L@Red de la Gente provide consumers with low cost options to send funds to more than 20,000 ATMs generally in larger Mexican cities or 750 L@Red de la Gente locations primarily in rural Mexico. L@Red de la Gente is part of the MoneyGram network.

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.

    CONTACT: U.S. Bank
             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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