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U.S. Bank Names Bill Bertha New Milwaukee Market President

MILWAUKEE--(BUSINESS WIRE)--Aug. 16, 2005--William R. (Bill) Bertha has been named as the new market president of U.S. Bank (NYSE:USB) in Milwaukee. He will be based at U.S. Bank's regional headquarters office at 777 East Wisconsin Avenue in Milwaukee and will oversee U.S. Bank's commercial lending activities in Milwaukee and Madison. Additionally, as the organization's senior officer in the market, Bertha will coordinate activities for all lines of business including consumer banking, corporate banking, corporate real estate, private banking and trust in Milwaukee.

A native of Milwaukee, Bertha has 21 years of experience in the financial service industry. He most recently was president of Strategic Advisors, LLC, an investment banking boutique he founded in Chicago four years ago that provides advice to both public and private companies on acquisitions, funding alternatives, growth strategies and private equity investment.

Joseph M. Otting, vice chairman of commercial and real estate industries group of U.S. Bancorp, the parent company of U.S. Bank, said, "Attracting an individual of Bill's caliber to join our outstanding team in Milwaukee was critical especially as it relates to continuing to grow our middle market business. Bill is a hometown guy and brings an impressive amount of knowledge and experience in the financial services arena to our organization. He understands the financial needs of local businesses and retail customers in the market and is committed to taking our Five Star Customer Service Guarantee to the next level."

Bertha noted, "These are exciting times for U.S. Bank in Milwaukee. This organization has a long history in the community and we want to be the preeminent bank in the region when it comes to serving the needs of retail, commercial and corporate banking customers. The company recently raised more than a half million dollars for local charities through our sponsorship of the U.S. Bank Championship in Milwaukee and will see our $2.5 million commitment to the Milwaukee County Zoo in the form of the U.S. Bank Gathering Place take shape soon. Our products, services and people showcase the overall strength of our organization in Milwaukee--a community we have called home for more than 152 years."

During his career he has worked for Deutsche Bank as managing director and a global head in its investment banking division. In addition, he worked as a managing director of Dean Witter Reynolds' investment banking group and ran their national financial institutions group. While there, he also headed the firm's industrial and manufacturing industry group, overseeing the company's national investment banking platform that serviced clients in manufacturing, automotive, chemicals, transportation, electrical industries.

Bertha earned his undergraduate degree in business at the University of Wisconsin-Madison, and then went onto Marquette University Law School, where he received a Jurist Doctorate Degree. Additionally, he received a master of business administration degree, with an emphasis in finance and international business from the University of Wisconsin-Madison. He resides in Whitefish Bay with his wife Susan and their three children.

Thomas V. Richtman, who has served as interim market president, will continue in his position as manager of the commercial banking group in Milwaukee.

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.

CONTACT: U.S. Bank
Steve Dale, 612-303-0784
Lisa Clark, 608-877-7517

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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