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Brian Raum Joins U.S. Bancorp Oliver-Allen Technology Leasing as Vice President of Corporate Development

LARKSPUR, Calif.--(BUSINESS WIRE)--July 25, 2005--Brian Raum has joined U.S. Bancorp Oliver-Allen Technology Leasing as vice president of corporate development. In this new position, Raum will create a channel partnership with other U.S. Bank business units and U.S. Bancorp Oliver-Allen Technology Leasing. Raum will be based out of the company's Orange County, Calif. office.

"We're excited to announce that Brian has joined our team. He has the perfect blend of experience to execute our ongoing cross-sell initiative by providing highly developed technology leasing products to U.S. Bank customers," said Darren Lang, senior vice president, U.S. Bancorp Oliver-Allen Technology Leasing.

Raum comes to U.S. Bancorp Oliver-Allen Technology Leasing with 14 years of technology leasing experience, having previously served as regional sales director for HP Financial Services where he was responsible for all business in the Western United States. Prior to the HP/Compaq merger, he started Compaq Capital's Venture Capital Program where he worked directly with venture capital firms to create new business opportunities for Compaq. In addition to his roles at HP and Compaq, Raum was vice president, sales at Brentwood Credit Corporation and national account manager at Relational Funding Corporation.

U.S. Bancorp Oliver-Technology Leasing, a division of U.S. Bancorp Equipment Finance, Inc. provides lease financing for all technology related equipment, including software and services. U.S. Bancorp Equipment Finance, Inc., one of the largest bank-affiliated equipment finance companies in the nation, has been providing equipment finance solutions for more than 30 years. It is a major funding source for companies in virtually every industry sector nationwide.

U.S. Bancorp Equipment Finance, Inc. is part of U.S. Bancorp (NYSE: USB). With $204 billion in assets, U.S. Bancorp is the 6th largest financial holding company in the United States. The company operates 2,383 banking offices and 4,877 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. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com.

CONTACT: U.S. Bancorp 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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