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U.S. Bancorp Vice Chairman Hasten to Retire Aug. 31, 2005

MINNEAPOLIS & ST. LOUIS, Aug 04, 2005 (BUSINESS WIRE) -- Richard K. Davis, president and chief operating officer of U.S. Bancorp, announced today that Joseph E. Hasten, vice chairman of U.S. Bancorp, is retiring effective Aug. 31, 2005. Hasten will remain on the U.S. Bank St. Louis Board.

"Joe has been an extremely valuable member of our management team and I am grateful for his many contributions to our company and its very important interests in the St. Louis community. I am delighted to also announce that Joe Hasten will continue as a director of the U.S. Bank St. Louis Board," said Davis.

In his board capacity, Hasten will assist Joseph F. Imbs, III, in his current role as U.S. Bank Midwest Regional Chairman and St. Louis Market President. "I have had the privilege of working with Joe Imbs for over ten years and I know him to be deeply committed to U.S. Bank's interests in the St. Louis community, which he knows so well. I am looking forward to working with him and the other directors of U.S. Bank St. Louis in the future," said Hasten.

"As chairman of the U.S. Bank St. Louis Board of Directors, Joe Imbs will continue to manage our St. Louis business and be our senior representative in this very critical market for U.S. Bank," said Davis.

Davis also announced that Dennis Battles, executive vice president of corporate banking, would act as interim head of U.S. Bank Corporate Banking system wide. Battles is based in St. Louis.

U.S. Bank is the largest bank in the St. Louis area as ranked by deposits. The company traces its St. Louis legacy back to Mercantile Trust, which was founded in 1853. U.S. Bank has more than 4,000 employees and 190 branch offices in Missouri.

U.S. Bancorp (NYSE:USB), with $204 billion in assets, 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.

SOURCE: U.S. Bancorp

U.S. Bancorp
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Teri Charest, 612-303-0732
or
Investor Relations
Judith Murphy, 612-303-0783

"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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