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Pinnacle Health System CEO Joins U.S. Bank Las Vegas Board

LAS VEGAS (Dec. 6, 2005) - Dr. Sherif Abdou, president, chief executive officer and co-founder of Pinnacle Health System, has joined U.S. Bank's Las Vegas board, led by Ken Ladd, president of U.S. Bank in Las Vegas.

Abdou joins an esteemed group of Las Vegas business and community leaders who advise U.S. Bank leaders on issues and opportunities in Las Vegas, while also serving as ambassadors for U.S. Bank in the community. U.S. Bank has 162 local boards in metropolitan and community markets across the 24 states in which it has a banking presence.

"Dr. Abdou has a very important perspective on business and the quality of life in Las Vegas that I deeply respect and admire," said Ladd. "We are honored to have him at the table to offer counsel and serve as a U.S. Bank ambassador in this great city."

Abdou has had a distinguished career in the healthcare field. He graduated in 1984 from the Mansoura University School of Medicine, an affiliate of Cairo University, in Cairo Egypt. He completed his internship training in 1985 at Mansoura University Medical Center and then immigrated to the United States later that year. He was certified by the American Board of Internal Medicine in 1995, and completed his Master in Medical Management from the University of Southern California in 2003.

In 1997, he formed Inpatient Physicians Network (IPN) and, in 1998, led an effort by Las Vegas physicians to form the Physicians IPA (PIPA) for which he has served as president. PIPA has more than 1,200 members and contracts with some of the largest health plans in Nevada.

Abdou serves on numerous healthcare boards and committees in Las Vegas for such organizations as Desert Springs Hospital, Sunrise Hospital Medical Center, PacifiCare of Nevada, HealthInsight, Sierra Health Services and the American Heart Association. He is a diplomat of the American Board of Internal Medicine, a fellow of the American College of Physicians, and was recently awarded fellowship by the American College of Physician Executives.

Pinnacle Health System commenced operations in 1997 and was incorporated in 2000 to provide clinical and management services to healthcare provider and service organizations. The company remains focused on the best interests of patients, backed by a core belief that high quality healthcare costs less. Since its inception, the Las Vegas-based company has expanded to more than 600 employees in four states. For more information visit www.phs-corp.com.

U.S. Bancorp (NYSE: USB), with $207 billion in assets, is the 6th largest financial holding company in the United States. The company operates 2,411 banking offices and 4,999 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 www.usbank.com.

Contact:
Teri Charest, U.S. Bank
(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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