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U.S. Bank Now Offers MoneyGram in All Branches Across 24 States

MINNEAPOLIS, Oct 12, 2005 (BUSINESS WIRE) -- Sending money transfers just became more convenient as U.S. Bank has made MoneyGram services available in 1,475 branches, with plans to make it available in all of its 2,383 branches in 24 states by the end of October. U.S. Bank is MoneyGram's largest bank affiliate in the United States, and has been a MoneyGram affiliate since June 2004 in select test markets.

To celebrate the milestone, U.S. Bank is offering a $5 flat fee for all MoneyGram transactions until Dec. 31, 2005. "This represents a considerable savings opportunity for consumers," said Steve SaLoutos, senior vice president of consumer products and services. "A consumer sending $300 from Minneapolis to Mexico City would save 50 percent while a consumer sending $500 from Seattle to Chicago would save more than 80 percent off standard rates."

"We recognize the need to provide reliable, low-cost money transfer solutions for our consumers. Bringing together these two great brands gives consumers more convenience and value for their remittance needs. U.S. Bank looks forward to serving consumers immediate money transfer needs and building long-term banking relationships with consumers over time," said Rick Hartnack, vice chairman of consumer banking at U.S. Bank.

MoneyGram also offers an excellent exchange rate, which directly benefits the customer. MoneyGram has more than 81,000 outlets in more than 170 countries, including more than 6,000 outlets in Mexico alone. Its affiliates include some of the most reputable financial and retail locations in the world. MoneyGram complements existing money transfer capabilities at U.S. Bank and provides greater flexibility for current and prospective customers who wish to send money safely and quickly to friends, family or associates in all parts of the world.

In 2003, U.S. Bank launched two low-cost money transfer solutions targeted to metropolitan and rural areas of Mexico. The card-based Secure Money Transfer product and relationship with Mexico's L@Red de la Gente provide consumers with low cost options to send funds to more than 20,000 ATMs generally in larger Mexican cities or 750 L@Red de la Gente locations primarily in rural Mexico. L@Red de la Gente is part of the MoneyGram network.

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. Bank

U.S. Bank
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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