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U.S. Bank Adds Pearl to Its String of Portland Gems

PORTLAND, Ore.--(BUSINESS WIRE)--July 1, 2005--U.S. Bank (NYSE:USB) has opened a new branch in the Pearl District of Portland and will celebrate by giving away a trip to Tahiti, home of the legendary black pearl, as part of the U.S. Bank Lucky Pearl Contest. The celebration will commence with a First Thursday Open House, art exhibition and wine tasting on Thursday, July 7 at 6 p.m. at 1040 N.W. Lovejoy in Portland.

"We are always thrilled to open a new U.S. Bank branch office in the community," said Tina Foster, senior vice president and regional manager of U.S. Bank in Portland. "This opening is particularly exciting because of the artistic flair and energy in the Pearl District - one of Portland's cultural hot spots. We're proud to display our colors as well as the talents of local artists in a special 'Gems of the Pearl' display within the branch."

The July 7 open house will kick-off the U.S. Bank Lucky Pearl Contest, in which visitors can enter their guess of that lucky number of pearls for a chance to win a trip to Tahiti, home of the black pearl. (Complete contest details are available at the branch.)

The Gems of the Pearl display will also be unveiled at the open house. Seth Lolich Gardner, a Portland photographer, will be the first artist on display and feature photographs from his travels of the western United States and his life in Portland.

Guests at the open house will also enjoy a wine tasting of local vintages and hors d'oeuvres, and will have the opportunity to meet Alan Smith, who will manage the new U.S. Bank Pearl District office. Smith has been with U.S. Bank since 2001, most recently at the U.S. Bank Greenway branch. He has lived in the Portland area for 14 years.

The branch will hold a grand opening celebration on July 11 with a ribbon cutting, food and drinks, which will be available throughout the week. The opening of the Pearl District office brings the total number of U.S. Bank branches to 86. The company also opened a branch at Portland International Airport in April. U.S. Bank has been in Portland since 1891.

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 Media Relations
Teri Charest, 612-303-0732


"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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