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U.S. Bancorp Honors Outstanding Employee Volunteerism with Five Star Volunteer Awards

MINNEAPOLIS--(BUSINESS WIRE)--April 18, 2005--U.S. Bancorp, parent company of U.S. Bank, is expanding the support that it provides nonprofit organizations by encouraging and rewarding the extraordinary volunteer work of its 51,000 employees with a new program called the U.S. Bank Five Star Volunteer Award.

Each year, U.S. Bancorp will recognize up to 250 employees who provide exceptional volunteer service to a nonprofit organization in their community. In addition to company recognition, U.S. Bancorp will award the nonprofit $1,000 in honor of the employee.

"Our commitment to Five Star Service doesn't end with serving our customers. Service means connecting with our communities and making an investment in the future of the places we call home," said Jerry Grundhofer, U.S. Bancorp chairman and chief executive officer. "The U.S. Bank Five Star Volunteer Award formally recognizes and rewards the thousands of volunteer hours that our employees contribute to the community every year to ensure that our communities are healthy and prosperous for years to come."

U.S. Bancorp has a long-standing record of community leadership in the key areas of affordable housing, economic opportunity, arts and culture, education and community service. The company received the highest rating possible from the Office of the Comptroller of the Currency in 2004 for its commitment to the Community Reinvestment Act (CRA), meeting the credit needs of all segments of the communities that U.S. Bancorp serves.

U.S. Bank Five Star Volunteer Award nominations may be made by an employee or by a non-profit organization. To request a nomination form, email fivestarvolunteer@usbank.com. Selections will be made quarterly.

U.S. Bank is a subsidiary of U.S. Bancorp (NYSE:USB). With $195 billion in assets, U.S. Bancorp is the 6th largest financial 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. Visit U.S. Bancorp on the web at usbank.com.

CONTACT: U.S. Bancorp Media Relations
Teri Charest

SOURCE: U.S. Bancorp

"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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