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U.S. Bank Promotes William Cave to Market President for Orange County and the Inland Empire

NEWPORT BEACH & ONTARIO, Calif., Jan 11, 2006 (BUSINESS WIRE) -- William Cave has been named market president for U.S. Bank in Orange County and the Inland Empire region of California. He has been serving as the interim market president since October.

"Bill's experience and leadership have been instrumental in our growth in the region and he is well poised to take our Orange County and Inland Empire teams to even greater success in 2006. I am proud of our team and thank Bill for taking on this new position," said Greg Seibly, president of U.S. Bank in California.

In his new role as market president, Cave will lead a team of commercial bankers who work with businesses in the Orange County and Inland Empire region, and he will facilitate collaboration across all U.S. Bank lines of business as head of the region's leadership team. He will chair the Orange County and Inland Empire board of directors and will continue to build on the internal and external partnerships that have been established throughout the region over the past two years.

A native of southern California, Cave earned his bachelor's degree in economics from UCLA and has served the banking industry for more than 25 years. He joined U.S. Bank in May 2002 as the regional manager of the Inland Empire commercial banking office. Cave worked for Security Pacific Bank/Bank of America from 1981 to 1999. He was the regional manager for Sanwa Bank's San Gabriel Valley and South Bay Commercial Offices prior to joining U.S. Bank.

Cave is currently on the board of directors for the Inland Empire United Way. He and his wife, Christy, live in Glendora with their two children. Cave has offices in Ontario as well as Newport Beach.

U.S. Bank is a subsidiary of U.S. Bancorp (NYSE:USB). U.S. Bancorp has 33 U.S. Bank branches, five business offices and 342 employees in the Orange County and Inland Empire region (including Riverside and San Bernardino counties). U.S. Bancorp has grown substantially in California, particularly southern California, in the past five years. In 2000, U.S. Bancorp had 166 U.S. Bank branches and 2,437 employees, primarily in northern California, whereas today the company has 331 offices and 3,469 employees throughout the state.

With $207 billion in assets, U.S. Bancorp 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. Visit U.S. Bancorp on the web at www.usbank.com.

SOURCE: U.S. Bank

U.S. Bank
Teri Charest, 612-303-0732

"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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