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U.S. Bancorp Equipment Finance, Inc. Names Keyes and Lang to U.S. Bancorp Oliver-Allen Technology Leasing

LARKSPUR, Calif. & ALISO VIEJO, Calif.--(BUSINESS WIRE)--Oct. 18, 2005--U. S. Bancorp Equipment Finance, Inc. has named Robert Keyes executive vice president and chief operating officer, and Darren Lang executive vice president and director of sales and marketing, for the U.S. Bancorp Oliver-Allen Technology Leasing line of business. Both will report directly to Sal Maglietta, president and chief executive officer of U.S. Bancorp Equipment Finance. Keyes will be based in Larkspur, Calif. and Lang will be based in Aliso Viejo, Calif.

In his new role, Keyes will manage all business operations and administration (including credit, equipment management, lease administration and finance), while Lang will be responsible for sales and marketing activity.

Keyes has worked in the financial services industry for nearly 30 years. Most recently he was with Banc of America Leasing in San Francisco and prior to that with Citicapital/Bankers Leasing, USL Capital and Wells Fargo Leasing. He holds a master's degree from Rutgers University and a bachelor's from Bates College in Lewiston, Maine, as well as a California CPA license.

Lang has been leading all sales and marketing activity since May. Prior to that he was senior vice president and regional sales manager for the Southern California sales team, which has been an integral component to U.S. Bancorp Oliver-Allen Technology Leasing's success for the past 13 years. Lang earned his bachelor's degree from California Polytechnic State University.

"Darren has demonstrated superior sales and marketing focus and management, achieving strong results for his area," said Maglietta. "Bob is a seasoned manager who, along with Darren, will focus our task of growing assets and increasing our profitability. We look forward to their leadership for the entire Oliver-Allen Technology Leasing organization."

U.S. Bancorp Oliver-Technology Leasing, a division of U.S. Bancorp Equipment Finance, Inc. provides lease financing for all technology related equipment, including software and services. U.S. Bancorp Equipment Finance, Inc., one of the largest bank-affiliated equipment finance companies in the nation, has been providing 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 $207 billion in assets, U.S. Bancorp is the 6th largest financial holding company in the United States. The company operates 2,396 banking offices and 4,986 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. Bancorp
Teri Charest, 612-303-0732

SOURCE: U.S. Bancorp

"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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