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U.S. Bancorp Equipment Finance, Inc. Names Gioia Head of Vendor Finance Group

PORTLAND, Ore., Oct 03, 2005 (BUSINESS WIRE) -- U.S. Bancorp Equipment Finance, Inc. has named Jamie Gioia executive vice president and general manager of its vendor finance group. Gioia succeeds Paul Frisch, who was named head of corporate development earlier this year. Gioia, who will operate from both Portland and Connecticut, reports to Sal Maglietta, president and chief executive officer of U.S. Bancorp Equipment Finance, Inc.

In his new role, Gioia will manage and lead one of four lines of business that includes vendor, third party and capital markets financing, that comprise U.S. Bancorp Equipment Finance, which provides flexible and competitive equipment financing for middle-market through investment-grade companies across the United States.

"We are pleased to have attracted someone of Jamie's caliber to join our senior management team. He has a strong record of developing and growing key vendor alliance relationships across multiple industries, as well as building and managing high performing teams. We are well positioned for strong future growth in this important market sector," said Maglietta.

Gioia has worked in the equipment leasing and finance industry for more than 20 years in increasingly responsible positions with various groups at GE Capital. Most recently, he was senior vice president and managing director for global new relationship development and senior vice president and general manager of global vendor finance.

He earned his bachelor's degree from Southern Connecticut State University in New Haven, Conn., and his master's degree from Western Connecticut State University in Danbury, Conn. Gioia is an active, long-time contributor to the United Way and is involved in numerous other charitable and civic activities, including Habitat for Humanity, Adopt a Child and Tutor Mentor programs.

U.S. Bancorp Equipment Finance, Inc., one of the largest bank-affiliated equipment finance companies in the nation, has been providing quality 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.

SOURCE: U.S. Bancorp

U.S. Bancorp Media Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com

"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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