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U.S. Bank Announces U.S. Bancorp Foundation Grants to Portland Area Organizations

PORTLAND, Ore.--(BUSINESS WIRE)--June 28, 2005--U.S. Bank, through the U.S. Bancorp Foundation, is presenting economic opportunity grants totaling $210,000 to 35 organizations in the Portland, Ore. and Vancouver, Wash. region. These grants support organizations that provide affordable housing, encourage self-sufficiency and assist economic development.

The Portland organizations that received grants from the U.S. Bancorp Foundation are:

    --  Community Housing Fund in Beaverton,

    --  Rebuilding Together Washington County in Beaverton,

    --  Tualatin Valley Housing Partners in Beaverton to support
        on-site resident services program,

    --  Community Action Organization in Hillsboro,

    --  Housing Development Corporation of Northwest Oregon in
        Hillsboro for the Las Casitas project,

    --  Northwest Housing Alternatives in Milwaukie,

    --  Association of Oregon Community Development Organizations in
        Portland,

    --  Boys & Girls Clubs of Portland for its Hillsboro Club
        expansion capital campaign,

    --  Cascade Aids Project in Portland for its housing education
        program,

    --  Cascadia Revolving Fund in Portland to support high risk
        entrepreneurs throughout Oregon,

    --  Children's Relief Nursery in Portland,

    --  Community Development Network of Multnomah County in Portland,

    --  Community Vision, Inc. in Portland,

    --  Dress for Success of Oregon, Inc. in Portland for its
        Professional Women's Group job-retention program,

    --  Evergreen Housing, Inc. Housing Authority of Portland for the
        New Columbia Life Long Learning Center,

    --  Hacienda Community Development Corporation in Portland in
        support of "Mercado Mi Pueblo" or "My Pueblo Market,"

    --  HOST Development, Inc. in Portland,

    --  Housing Development Center in Portland for housing development
        efforts,

    --  Human Solutions, Inc. in Portland,

    --  JOIN: A Center for Involvement in Portland to move homeless
        individuals into permanent housing,

    --  Mt. Hood Community College Foundation in Gresham for
        low-income women to attend college,

    --  Neighborhood Partnership Fund in Portland,

    --  Neighborhood Pride Team in Portland for Trillium Artisans,

    --  One Economy Corporation in Portland to expand the use of the
        Beehive by low-income individuals,

    --  Oregon Council for Hispanic Advancement in Portland for the
        Proyecto Conexion program,

    --  Oregon Microenterprise Network in Portland,

    --  Peninsula Community Development Corporation in Portland,

    --  Portland Community Land Trust,

    --  Portland Community Reinvestment Initiatives Inc.,

    --  Portland Habitat for Humanity for development of a new
        community at 83rd and SE Lambert,

    --  Portland Rescue Mission Ministries for education and
        employment training for homeless men and women,

    --  Portland Youthbuilders Construction Training Program for low
        income, at-risk youth,

    --  REACH Community Development, Inc. in Portland,

    --  Rebuilding Together (also known as Christmas in April) in
        Portland and

    --  Community Housing Resource Center in Vancouver, Wash. Home
        Buyer Education and Counseling program.

U.S. Bank is a subsidiary of U.S. Bancorp (NYSE:USB). The U.S. Bancorp Foundation contributes to the strength and vitality of local communities through partnerships that improve the educational and economic opportunities of low- and moderate-income individuals and families and enhance the cultural and artistic life of the communities in which U.S. Bancorp operates.

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 Media Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com

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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