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U.S. Bank Championship to Continue in Milwaukee

MILWAUKEE--(BUSINESS WIRE)--July 26, 2006--U.S. Bank and Milwaukee Golf Charities, Inc., the organization responsible for the operation of the U.S. Bank Championship in Milwaukee, have agreed to terms on a new three-year contract whereby U.S. Bank will remain the title sponsor of the annual PGA TOUR event. U.S. Bank became the first title sponsor of the tournament in 2004, and this year's 39th annual tournament, to be held July 27-July 30 at Brown Deer Park Golf Course, marks the third year of the original three-year agreement.

Bill Bertha, U.S. Bank Wisconsin market president, said, "It's terrific to be involved with such an outstanding organization that shares part of our 153-year history in Milwaukee and features top-notch PGA TOUR players at our local crown jewel public course played by so many families in our area. We also love the boost it provides to our local economy, and most of all, the charitable contributions that have resulted from our being involved in this outstanding tournament, which for the last two years surpassed $1.2 million. This year, we hope to again exceed the record of yearly giving."

"We are so pleased to able to announce the renewal of our agreement with U.S. Bank," said Bryce Edwards. "As we look forward to our 40th anniversary event and beyond, to have a partnership with an organization as strong as U.S. Bank means a great deal as we move forward with the PGA TOUR and look to continue to increase the amount of charitable giving that the tournament is able to achieve."

The U.S. Bank Championship in Milwaukee, scheduled for July 16th - 22nd next year, will become part of the new PGA TOUR FedExCup competition that debuts in 2007. The FedExCup Regular Season runs from the beginning of January through the middle of August and will establish the seeding for the PGA TOUR Playoffs. The Playoffs will consist of four events that will determine the season-long FedExCup champion, who will receive a record $10 million bonus.

General grounds and party deck tickets are still available for this year's tournament and can be ordered at ww.usbankchampionship.com or by calling 414-540-3800. USA Network will air the tournament on Thursday and Friday from 3-5 p.m. central time and CBS coverage starts on Saturday and Sunday, 2-5 p.m. central time.

U.S. Bancorp, with assets of $213 billion, is the sixth-largest financial holding company in the United States. The company operates 2,434 banking offices and 4,966 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.

The U.S. Bank Championship in Milwaukee is a non-profit event that contributed over $633,000 to Wisconsin charities last year and more than $5.1 million since 1994.

Media Relations
Lisa H. Clark, 608-877-7517


"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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