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U.S. Bank Names Steve Erwin Nebraska President

LINCOLN, Neb. & OMAHA, Neb.--(BUSINESS WIRE)--Feb. 24, 2005--Steve Erwin has been named president of U.S. Bank in Nebraska and will be responsible for the bank's commercial banking operations across the state and Council Bluffs, Iowa. This announcement was made today by John Elmore, executive vice president of U.S. Bancorp, the parent company of U.S. Bank in Nebraska.

Elmore noted, "Having a leader who understands the needs of both retail and commercial customers throughout the state of Nebraska is a major plus for our organization. As an existing member of the U.S. Bank team in Nebraska, and a native of the state, Steve has been instrumental in helping us grow and has truly earned this new position through hard work. Now under Steve's leadership we will be able to take our organization to the next level and further U.S. Bank's commitment to offering unrivaled service to our customers."

Erwin, 52, has more than 28 years of experience in banking and financial services. He will now have offices in Omaha and Lincoln. As part of his promotion to president of U.S. Bank in Nebraska, Erwin will continue his current responsibilities of managing the community banking activities in the state, and will also assume management of the Council Bluffs and Omaha commercial banking groups. Erwin has 18 years of service with U.S. Bank and its predecessors in the Nebraska market.

A graduate of the University of Nebraska in Lincoln, Erwin is very involved in the community and civic organizations. He is a board member of Assurity Life Insurance Company and Bryan LGH Hospital, the past chairman of the board of directors of the Lincoln Chamber of Commerce, the current chairman of the board of directors of Economics America (Nebraska Council on Economic Education), and a member of the Nebraska Cattleman's Association, Nebraska Bankers Association and the Nebraska N Club.

Erwin and his wife Janice have two children, one is a graduate of the University of Nebraska in Lincoln, and the other is a student at Chadron State College.

U.S. Bank has more than 750 employees and nearly 60 locations throughout Nebraska.

U.S. Bancorp (NYSE:USB), with $195 billion in assets, is the 6th largest bank holding company in the United States. The company operates 2,370 banking offices and 4,620 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
Steve Dale
612-303-0784
Amy Frantti
612-303-0733

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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