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U.S. Bank Wins 14th Annual CIO Enterprise Value Award from CIO Magazine

MINNEAPOLIS, Minn. & FRAMINGHAM, Mass., Nov 01, 2005 (BUSINESS WIRE) -- U.S. Bank has won CIO magazine's 14th Annual CIO Enterprise Value Award in the banking and brokerage category. Since 1993, CIO has honored companies and organizations for exemplary uses of IT that add value to their operations. U.S. Bank won for Access Online, an electronic payment tool used by major corporations and created by U.S. Bank Corporate Payments Systems.

Underscoring the collaboration between information technology (IT) and business management, the CIO Enterprise Value Award is given to a select group of organizations that clearly demonstrate how they leverage IT to achieve business objectives and produce return on investment (ROI).

"U.S. Bank is honored to receive this award the first time we entered the competition," said Rob Abele, executive vice president of U.S. Bank Corporate Payment Systems. "Access Online has proven to be a valuable tool for many of our major corporate customers. This recognition by CIO magazine further validates our commitment to the innovative use of information technology and our efforts to best serve our customers."

CIO Enterprise Value Award entries are subjected to a rigorous judging process. CIO editors and a review board of independent consultants and academics examined the nominations and spoke with representatives of the various companies to evaluate their systems' costs and returns and impact on each company's overall operations. This year, 11 winners and 2 honorable mentions were selected. The winner of the Grand CIO Enterprise Value Award will be announced at the CIO/06: The Year Ahead Conference on Nov. 6, 2005.

"U.S. Bank's receipt of this award shows how integral information technology is in our line of business," said Bill Chenevich, vice chairman of U.S. Bancorp technology and operations services. "This achievement reaffirms the value of the technology being used within the company."

"In the 14 years we've been doing the CIO Enterprise Value Awards, we've seen a growing sophistication in the value of our winners' IT initiatives," says Abbie Lundberg, editor in chief, CIO magazine. "This year's winners hit more often and more deeply on multiple pillars of the different types of value we look at: the strategic, financial, operational, customer and even social impact of what they've achieved."

Launched in 1987, CIO magazine addresses issues vital to the success of chief information officers (CIOs) worldwide. The CIO portfolio includes a companion website www.CIO.com, CIO Executive Programs and the CIO Executive Council. CIO properties provide technology and business leaders with analysis and insight on information technology trends and a keen understanding of IT's role in achieving business goals.

U.S. Bancorp (NYSE: USB), with $207 billion in assets, 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.

SOURCE: U.S. Bank

U.S. Bank
Kristine Pasowicz, 612-303-0731
or
CXO Media Inc.
Karen Fogerty, 508-935-4091

"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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