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U.S. Bank Names New Regional Manager for Commercial Banking in San Francisco

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 6, 2005--Edward Schultz has joined U.S. Bank as a senior vice president and regional manager for U.S. Bank Commercial Banking in the San Francisco Bay Area. He will report to Michael Walker, market president for U.S. Bank in San Francisco.

Schultz, 55, was most recently senior vice president and manager, Bay Area Commercial Banking for Bank of the West in San Francisco. He has worked in the financial services industry in California for 31 years, 23 of which have been in the San Francisco Bay Area.

A graduate of Stanford University with a bachelor's degree in economics, Schultz earned his MBA in finance from the University of California Los Angeles (UCLA). He served on the Stanford Alumni Board of Director's, founded the Stanford-San Jose Luncheon Club and chaired the annual Stanford/Cal 'Big Game' rally and luncheon from 1989-1995.

He served as a board member for the Los Angeles World Trade Center, California Council for International Trade. Schultz is also a strong supporter of community affairs, serving on the board of the San Jose Museum of Art, Leadership Sunnyvale, Santa Clara Valley Manufacturing Group and San Jose Archbishop Mitty High School. He chaired the Union Bank "Heart of the City" 5K Run and was a member of the advisory committee for San Jose Mayor, Ron Gonzalez.

Schultz now lives with wife, Elaine, in Ross, in Marin County, Calif. He will work out of the new U.S. Bank northern California region headquarters at One California in San Francisco.

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
Teri Charest, 612-303-0732
teri.charest@usbank.com
or
Steve Dale, 612-303-0784

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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