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Indiana State District Council of Laborers and Hod Carriers Selects U.S. Bank to Provide Custody Services and Securities Lending

TERRE HAUTE, Ind.--(BUSINESS WIRE)--June 17, 2005--The Indiana State District Council of Laborers and Hod Carriers has selected U.S. Bank Institutional Trust & Custody to provide custodial services and securities lending for its $750 million pension plan.

"We looked at the proposals made by various financial institutions, and U.S. Bank's Institutional Trust & Custody team had the solutions that best fit our needs," said Janette England, plan administrator, Indiana State District Council of Laborers and Hod Carriers. "We also selected U.S. Bank because of its attention to customer service and relationship management."

"U.S. Bank's role with providing custodial services and securities lending will help the Indiana State District Council of Laborers and Hod Carriers assist the district council in meeting their obligations to the members," said Diane Thormodsgard, president of U.S. Bank Institutional Trust & Custody.

U.S. Bank Institutional Trust & Custody is a division of U.S. Bank N.A. that focuses on retirement, investment, trust and custody services for institutional clients. Its product offerings include retirement plans (401(k), profit sharing or money purchase pension plans, and defined benefit), institutional trust and custody, master trust services and health savings accounts.

U.S. Bancorp (NYSE: USB), with assets of $198 billion, is the 6th largest financial services 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 which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com.

Amy Frantti, 612-303-0733


"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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