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Elizabeth Hund to Lead U.S. Bank's Food and Agribusiness Group

DENVER--(BUSINESS WIRE)--Aug. 9, 2006--Elizabeth Hund, nationally recognized agribusiness lender, has been tapped to head U.S. Bank's Food and Agribusiness Division. She will be based in Denver and will oversee food and agribusiness lending for U.S. Bank in its 24-state footprint, including key markets such as Chicago, Kansas City, St. Louis, Des Moines, Omaha, Lincoln, Wichita, Topeka, Denver, Minneapolis and Sacramento.

Timothy Somers, executive vice president and manager of U.S. Bank's Specialized Industries Division, made the announcement, adding, "Lizz is a seasoned agricultural finance veteran who has broad experience with a variety of clients from production agriculture to global agribusinesses. She has the knowledge and drive to lead our team in assisting customers to grow to their fullest potential with our loan, investment management and capital market services."

Hund, who has more than 25 years of agribusiness lending experience, most recently worked as managing director and produce sector head for Rabobank International in San Francisco, CA, where she was responsible for all marketing, credit, compliance, administration and budgeting in the western region.

Before that she worked in Denver for CoBank, National Bank for Cooperatives, where she was senior relationship manager, and Coleman Natural Meats, as chief financial officer. Prior to that, she worked as vice president of agribusiness at Colorado National Bank, which has since been acquired by U.S. Bank.

Hund received a masters degree in business administration with an emphasis in finance from the University of Colorado in Boulder, and a bachelor of science degree in agriculture, with an emphasis in animal science and industry, from Kansas State University in Manhattan, KS. She is a fellow of the California Ag Leadership Program, and a graduate of the Agribusiness Executive Management Program at Harvard University

Active in the national ag community, Hund is a member of the USDA marketing advisory board, on the board of Slow Food USA, and a member of the Farm Foundation. She also serves on the Dean's Advisory Council for the College of Ag & Environmental Sciences at the University of California at Davis and on the Dean's Advisory Council for the College of Agriculture at Kansas State University.

U.S. Bancorp (NYSE:USB), 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.

CONTACT: U.S. Bank
Lisa H. Clark, 608-877-7517

SOURCE: U.S. Bank

"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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