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U.S. Bank On-Site Electronic Deposit Now Processes Checks at More Than 150 Locations Nationwide

MINNEAPOLIS--(BUSINESS WIRE)--Aug. 25, 2005--Since its release in Sept. 2004, U.S. Bank On-Site Electronic Deposit has been implemented at more than 150 business customer locations nationwide. Launched one month before Check 21 was enacted, U.S. Bank On-Site Electronic Deposit was among the first remote capture solutions marketed to customers that receive customer checks at one or more locations via a dropbox, mail, or at a walk-up window. As a result, businesses can save time by making customer check processing more efficient.

U.S. Bank has recently launched a new set of enhancements to its On-Site Electronic Deposit product. The latest version of the product gives customers the option to automate check data entry using Courtesy Amount Recognition (CAR) and Legal Amount Recognition (LAR) technology, deposit to multiple accounts from a single PC workstation, and process a full range of transaction types, including transactions with multiple coupons or other associated documents. Other enhancements include extensive reporting features, additional deposit cutoffs, and new equipment and scanner options.

"This new round of product enhancements helps maintain U.S. Bank's position as an industry leader in Check 21 and check conversion technology," states Kristine Oberg, vice president and product development manager for U.S. Bank Treasury Management Services.

U.S. Bank is a subsidiary 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. Visit U.S. Bancorp on the web at usbank.com.

CONTACT: U.S. Bank Media Relations
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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