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U.S. Bank Offers Morningstar(R) Retirement Manager(TM) to Institutional Customers

MINNEAPOLIS--(BUSINESS WIRE)--April 6, 2006--U.S. Bank Institutional Trust & Custody is now offering Morningstar(R) Retirement Manager(SM) to its plan sponsors so their employees have the resources and support they need to help make an affordable retirement a reality. This service includes professional investment management and continual oversight for people who don't have the time, experience, expertise or desire to manage their retirement account portfolios.

"Providing this valuable service is part of the U.S. Bank Institutional Trust & Custody team's continued commitment to listening to its clients and their needs, then providing a variety of fund options, resources and tools to help make retirement planning easier," said John Paulus, senior vice president for U.S. Bank Institutional Trust & Custody's Retirement Plan Services. "Offering this service is vital at a time when many American workers are not saving enough to meet the goal of a comfortable retirement."

With the managed accounts service of Morningstar Retirement Manager, Morningstar Associates creates a personalized investment portfolio that fits each participant's financial situation, evaluates the portfolio quarterly, manages the deferral percentage and investment allocation, and rebalances the portfolio as needed to help make sure that the appropriate investment options are selected, and progress is being made toward meeting the participant's retirement goals.

Plan sponsors who offer managed accounts through Morningstar Retirement Manager benefit as well. Because Morningstar Associates acts as an investment manager, Morningstar takes on fiduciary responsibility for the advice it provides.

To learn more about Morningstar Retirement Manager, or the other services and tools available for Retirement Plans, visit www.usbank.com/itc.

Morningstar Associates, LLC, is a leading provider of investment advisory services to the retirement plan industry. Morningstar Associates is a registered investment advisor and wholly owned subsidiary of Morningstar, Inc., a leading provider of independent investment research.

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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