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U.S. Bank Corporate Trust Services Receives Master Servicing Ratings

NEW YORK--(BUSINESS WIRE)--March 2, 2006--U.S. Bank Corporate Trust Services has received the ratings needed from Standard & Poor's and Moody's to offer master servicing for mortgage-backed transactions. By expanding its product capability in this way, U.S. Bank reaffirms its commitment to the mortgage-backed services (MBS) market and enables clients to receive comprehensive business solutions under one umbrella.

As a master servicer, U.S. Bank will be responsible for trustee reports and for overseeing third party primary servicers. The ratings approvals reflect the readiness of U.S. Bank's master servicing procedures and systems, as well as its overall financial strength, the experience and structure of its management team, and its demonstrated ability to service mortgage loans.

"U.S. Bank is a strong player in the MBS and asset-backed securities business and is known for providing great service. We are excited to add master servicing capabilities to our complete line of products and services available to our mortgage-backed securities clients," said Diane Thormodsgard, president of U.S. Bank Corporate Trust Services.

U.S. Bank Corporate Trust Services is one of the nation's largest providers of trustee services with more than $1.7 trillion in principal outstanding in municipal, corporate, asset-backed and international bonds. In addition, it provides paying agent, escrow agent and document collateral services through its network of 47 offices nationwide. U.S. Bank Home Mortgage is the 15th largest mortgage servicer in the country, servicing approximately 750,000 loans with $86 billion outstanding.

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.

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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