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U.S. Bancorp Recognizes Contributions of Thousands of Employees with Week Dedicated to Honoring Their Years of Service

MINNEAPOLIS, Apr 04, 2005 (BUSINESS WIRE) -- U.S. Bancorp is recognizing nearly 24,000 employees who have been with the company for five years or longer with Years of Service Recognition Week, April 4-8. Years of Service Recognition Week will include special events across the country for all 51,000 employees. The week will include the introduction and presentation of the Years of Service gemstone lapel pins, which represent the number of years that an employee has been with the company.

The lapel pin has been an important part of the U.S. Bancorp culture for more than 10 years, primarily because it represents the commitment of every employee to provide best-in-class service to customers every day. The addition of a Years of Service gemstone to enhance the pin demonstrates the value that the company places on employee longevity and loyalty.

"Recognizing and honoring employees for their years of service is a key component to our Five Star Service Guaranteed philosophy because loyal and experienced employees provide best-in-class service, which in turn creates loyal customers and attracts new customers to our great company," said Jerry Grundhofer, chairman and chief executive officer of U.S. Bancorp, who this year celebrates 12 years with U.S. Bancorp.

Each day of the week will celebrate each major milestone or group of employees. Employees who have been with the company for 25 years or more will receive special recognition on Monday, April 4 and receive their diamond pins. On Tuesday, April 5, the company will celebrate employees who are at the 20-year mark and they will receive their garnet pins. Employees with five, ten and 15 years of service will be recognized on Wednesday, April 6 and receive their amethyst (five years), sapphire (ten years) and emerald (15 years) pins. On Thursday, April 7, all employees will be honored and on Friday, April 8, five employees will be randomly selected to win the Five Star Employee Trip to a resort in their region.

Seven employees who have been with the company for more than 50 years will receive special honors for their lifelong commitment to providing great service to their customers and colleagues. They will receive a special gift and recognition from Grundhofer and Richard Davis, president and chief operating officer of U.S. Bancorp.

The seven include: Mary West and Carol Goodwin in Milwaukee; John Jerry in St. Paul, Minn.; Evelyn Purdy in Falmouth, Ky.; Esther Williams in Richmond, Ind., Gwyn Holland in Decherd, Tenn. and Colleen Watson in St. Joseph, Mo.

"Our company is very proud to recognize more than 1,800 employees who will be celebrating at least 25 years of service to our customers," said Davis, who this year celebrates 12 years with U.S. Bancorp. "I am even more delighted that nearly half of our employees have hit their first milestone of five years. Collectively, they represent our fundamental belief that loyalty and longevity are valuable characteristics that are essential to achieving success at U.S. Bancorp."

The week of activities will include celebrations as pins are distributed, special recognition in employee periodicals, trivia and contests for all employees including a chance to win a trip for their immediate family. All employees will receive a letter from Grundhofer and Davis and will be recognized on an on-going basis with a quarterly publication of those who are celebrating milestone anniversaries.

The Years of Service Recognition Week complements other service programs at U.S. Bancorp including the Five Star Service Guarantee, which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience. Another example of U.S. Bancorp's service focus is the Circle of Service Excellence, in which customers and employees nominate individuals for an award granted quarterly recognizing 20 people for outstanding service.

U.S. Bancorp will announce other service programs in 2005, including a community service award for employee volunteerism in which a monetary contribution is made to the organization that they support with their personal time and talents.

U.S. Bancorp (NYSE:USB), with assets of $195 billion, is the 6th largest financial holding company in the United States. The company operates 2,370 banking offices and 4,620 ATMs, 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 the parent company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com.

SOURCE: U.S. Bancorp

U.S. Bancorp
Teri Charest

Steve Dale

"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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