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U.S. Bank Announces 2005-2006 Internet Scholarship Program

MINNEAPOLIS--(BUSINESS WIRE)--Oct. 13, 2005--High school seniors can now go online to access a source of college scholarship dollars at usbank.com/studentbanking. The U.S. Bank Internet Scholarship program, available only through the Internet, will award up to 30 college scholarships valued at $1,000 each to graduates of the high school class of 2006. This is the tenth consecutive year of the U.S. Bank Internet Scholarship Program. Scholarship awards for the past nine years total more than $230,000.

"At U.S. Bank we know that students and their parents are under increasing pressure when it comes to paying for a college education, so we're glad to help out with this Internet scholarship program," said Russ Kruse, manager of the U.S. Bank student banking program. "In addition to the Internet scholarship program, U.S. Bank offers a powerful search engine that assists students and their parents by finding other scholarship programs available from a multitude of sources. The site also features information about paying for college, including college financial planning and student loan guides."

The U.S. Bank Internet Scholarship Program application will be available exclusively through the Internet between now and February 28, 2006. Internet access is available at most high schools and public libraries at no charge.

Scholarship award recipients are selected through a random drawing process. Students who plan to attend an accredited two- or four-year college in the fall of 2006 in a full-time course of study are eligible to apply. They must also be a United States citizen or permanent resident alien, and graduate from high school during the 2005-2006 academic year. See the web site for additional scholarship information.

Recipients of a U.S. Bank Internet Scholarship will be notified of their selection in the spring of 2006. Only high school seniors are eligible for the scholarship program.

U.S. Bank is one of the top student banking institutions in the nation, providing a comprehensive line of student banking products including student loans, campus ID card programs, Internet banking, U.S. Bank student checking and savings, and Visa Buxx(R) prepaid spending cards. U.S. Bank student loans offer quality toll-free customer service, state-of-the-art loan processing, online application accessibility, and a variety of repayment options that offer savings to borrowers. Student loan products include Federal Stafford, PLUS, Consolidation, and Supplemental education loans.

U.S. Bancorp (NYSE:USB), with assets of $204 billion, is the 6th largest financial holding company in the United States. The company operates 2,383 banking offices and 4,877 ATMs, 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 which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com. Member FDIC.

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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