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NOVA Adds Business Check Processing to Its Electronic Check Service; Enhancement Allows Merchants Like Bill Ussery Motors to Accept All Checks, All Ways

ATLANTA--(BUSINESS WIRE)--Jan. 30, 2006--NOVA Information Systems (NOVA), a wholly owned subsidiary of U.S. Bancorp (NYSE:USB), today announced that it has enhanced its Electronic Check Service (ECS) product line to support business checks as well as consumer checks. The service now electronically converts just about all checks presented in person or through the mail into electronic items for processing. With the enhancement of business check support, NOVA is the only electronic check service provider to utilize three processing methods for checks: direct DDA access, ACH processing, and Image Replacement Documents (IRD's), which utilize Check 21 processing rules.

The employees of Bill Ussery Motors, Inc., a leading Mercedes-Benz dealership in Miami, Florida, find ECS easy to use. "With ECS, we can run every check through the same system we use for credit card processing," said Ronit Canet, director of accounting & finance, Bill Ussery Motors. "Plus, we have peace of mind in knowing that funds are guaranteed for every consumer and business check approved by the system, and that we only have one company to deal with for all of our payment processing needs."

"The ability to support all checks presented any way means that merchants no longer need to support parallel processing methods for different types of checks," said Amy Gutierrez, vice president, business development, NOVA. "Check deposit slips are eliminated and cash flow is improved, since merchants receive funding within 24-48 hours."

NOVA's ECS service is supported on the same terminals, software, and VAR interfaces used for its credit card processing services. The service utilizes imaging technology, and NOVA's transaction network seamlessly chooses the appropriate processing method based on the type of check presented. All consumer and business checks can be electronically imaged, routed, converted and deposited. Merchants can choose a variety of risk management services: guarantee, verification, collections, or conversion only. The service was initially introduced in 2003 to support consumer checks, and NOVA now has over 6,500 merchant locations up and running.

About NOVA

NOVA Information Systems, a leader in the payment processing industry is a wholly owned subsidiary of U.S. Bancorp (NYSE:USB). Combined, NOVA and its affiliate euroConex provide global merchant processing services to financial institutions and customers in the United States, Canada, and Europe. NOVA offers integrated payment processing services to more than 800,000 merchants. For more information visit www.novainfo.com.

CONTACT: NOVA Information Systems
Michelle Graff, 678-731-5064
michelle.graff@novainfo.com

SOURCE: NOVA Information Systems

"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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