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New Southern New Hampshire University Credit Card from U.S. Bank Gives Penmen Something to Write Home About

MINNEAPOLIS & MANCHESTER, N.H.--(BUSINESS WIRE)--May 5, 2005--Southern New Hampshire University (SNHU) has created a new affinity credit card partnership with U.S. Bank that generates donations to SNHU each time a new card is activated and again each and every time that card is used.

The program will offer a choice of three card design options featuring the Penmen logo, Robert Frost Hall and the new SNHU logo. Alumni, employees, students and friends of the university will have access to a variety of credit card products offered through this U.S. Bank partnership, including cards that earn reward points that can be redeemed for gift certificates, merchandise, cash and travel rewards.

"We are very excited about this new partnership with U.S. Bank. The new Southern New Hampshire University affinity credit card program will provide many outstanding benefits to our constituencies that were not previously available. In my opinion, with this program, everyone benefits - the cardholder, the university and the bank," said Michael DeBlasi, director of alumni and community relations at SNHU.

"Our goal is to provide a valuable card product for SNHU that benefits the university and its students while also embracing the Penmen spirit," said Tanya Turner, senior vice president of affinity products at U.S. Bank. "We look forward to the many opportunities that will arise for SNHU as a result of this program."

Based in Manchester, N.H., SNHU educates intellectually and culturally enriched individuals to be successful in their careers and contribute to their communities. SNHU's educational philosophy challenges students' intellectual potential and prepares them for professional lives in an ever changing world. It provides a supportive and close-knit learning community, delivering engaging instruction in a flexible variety of formats. Students develop the knowledge to understand a complex world, the skills to act effectively within that world, and the wisdom to make good choices.

U.S. Bank is a subsidiary of U.S. Bancorp (NYSE:USB). With $198 billion in assets, U.S. Bancorp is the 6th largest financial holding company in the United States. The company operates 2,377 banking offices and 4,654 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. Bank
Teri Charest, 612-303-0732
or
SNHU
Gregg Mazzola, 603-645-9635

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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