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U.S. Bank Introduces Roth 401(k) Retirement Option to Institutional Customers

MINNEAPOLIS--(BUSINESS WIRE)--March 1, 2006--U.S. Bank Institutional Trust & Custody is introducing Roth 401(k) as a new retirement product option for its plan sponsors.

"The U.S. Bank Institutional Trust & Custody team is always looking for ways to have more retirement plan options available for our clients, so we're very excited about the Roth 401(k) feature and are among the leaders offering this option," said John Paulus, senior vice president for U.S. Bank Institutional Trust & Custody's Retirement Participant Services. "The Roth 401(k) feature gives our plan sponsors the ability to offer plan participants choices regarding the deferral option that will best benefit them and help them be successful in their efforts to save for retirement. We already have 50 clients that have taken advantage of this new option."

To assist plan participants in determining if the Roth 401(k) option would be beneficial for them, U.S. Bank Institutional Trust & Custody's relationship managers have been meeting with clients. "In addition, our employee education program for the Roth 401(k) option is multifaceted," noted Paulus. "We have both written materials and a powerful, easy to use online Roth calculator available."

Plan sponsors have the option of bundling the U.S. Bank Roth 401(k) with other U.S. Bank retirement services and products. The Roth 401(k) option is fully integrated into the recordkeeping, voice response system and the www.gettingthere.usbank.com web site, so all information is combined for the participant and the plan sponsor. This makes offering the Roth 401(k) option simple and easy for the plan sponsor and the participant.

To find out more about the U.S. Bank Institutional Trust & Custody Roth 401(k) option, call 1-866-681-5052.

U.S. Bank Institutional Trust & Custody is a division of U.S. Bank N.A. that focuses on retirement, investment, trust and custody services for institutional clients. Its product offerings include retirement plans (401(k), profit sharing or money purchase pension plans, and defined benefit), institutional trust and custody, master trust services and health savings accounts.

U.S. Bancorp (NYSE:USB), with assets of $209 billion, is the 6th largest financial holding company in the United States. The company operates 2,419 banking offices and 5,003 ATMs, 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 the parent company of U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com.

Media Relations
Amy Frantti, 612-303-0733


"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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