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U.S. Bank in Arizona and Nevada Names Isauro "Izzy" Gonzalez Multicultural Sales Director

PHOENIX (July 8, 2005) - Isauro "Izzy" Gonzalez has been hired as multicultural sales director for U.S. Bank in Arizona and Nevada. Hope Levin, regional president for U.S. Bank in Arizona, made the announcement.

As multicultural sales director, Gonzalez will work with all lines of business at U.S. Bank in Arizona and Nevada and assist and direct them with the bank's multicultural initiatives. He will also assist with the bank's recruiting efforts in the region. Gonzalez will work at U.S. Bank Center, located at 101 North First Avenue in downtown Phoenix.

"Izzy is an outstanding addition to the U.S. Bank team in the region," said Levin. "Izzy's depth of experience and extensive network in the business sector, including the minority business community, is wide-ranging and impressive. His background includes working for the Arizona Hispanic Chamber of Commerce, the Arizona Department of Commerce, a small business as a consultant, as a marketing professional for a construction company, as well as 25 years of experience in the financial services industry."

Gonzalez was most recently project director for the Arizona Minority Business Development Center in Phoenix, where he was responsible for the initial start-up, development and day-to-day operations of the Greater Phoenix Minority Business Development Center (MBDC), and for marketing MBDC services to potential clients and outreach to minority and constituent organizations. Gonzalez held that post for a total of six years.

Gonzalez has been a member of various community organizations including the United Latino Business Coalition as an executive member, Light Rail Advisory Committee, Civic Plaza Advisory Committee, Maricopa County Parity Partners, the Grand Canyon Minority Supplier Development Council, Glendale Chamber Foundation, Little League and Junior Achievement. He is a newly appointed member of the United States Indian American Chamber of Commerce. Gonzalez was also a member of the Yuma Economic Development Corporation, the San Luis/Yuma County Commission, Rotary, United Way and Kiwanis Club of Yuma.

Gonzalez earned his Series 6 and 63 licenses. He was born in Tampico, Mexico, and moved to Arizona when he was one year old. Gonzalez is fluent in English and Spanish and resides in the Phoenix area.

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: 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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