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U.S. Bancorp Foundation Awards Grants to Arizona Community Groups
Business Editors/Banking Writers

PHOENIX--(BUSINESS WIRE)--Aug. 10, 2006--Twenty-six community groups in Arizona are being awarded more than $125,000 in grants by the U.S. Bancorp Foundation. Hope Levin, regional president for U.S. Bank in Arizona, announced the artistic and cultural enrichment, education, economic opportunity and health and welfare grants. "These organizations make Arizona a better place to live by providing needed services," said Levin. "The U.S. Bank team in Arizona is proud to support them."

U.S. Bank is providing grants to the following nonprofit organizations:

-- American Indian Prevention Coalition, Inc.
-- Arizona Council on Economic Education
-- Arizona Foundation for Women
-- Ballet Arizona
-- Boys Hope Girls Hope of Arizona
-- Chicanos Por La Causa, Inc.
-- Childsplay, Inc.
-- Habitat for Humanity Tucson, Inc.
-- Habitat for Humanity Valley of the Sun
-- HomeBase Youth Services
-- Housing for Mesa, Inc.
-- Junior Achievement of Arizona, Inc.
-- Literacy Volunteers of Maricopa County, Inc.
-- March of Dimes Birth Defects Foundation
-- Neighborhood Economic Development Corporation
-- Neighborhood Housing Services of Phoenix
-- Phoenix Art Museum
-- Phoenix Symphony
-- Ronald McDonald House Charities of Phoenix
-- Self-Employment Loan Fund, Inc.
-- Teach For America
-- Tucson Children's Museum
-- Valley of the Sun United Way
-- Valley of the Sun YMCA

U.S. Bancorp (NYSE:USB), with $213 billion in assets, is the 6th largest financial holding company in the United States. The company operates 2,434 banking offices and 4,966 ATMs in 24 states, 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. Bancorp
Amy Frantti, 612-303-0733

SOURCE: U.S. Bancorp

"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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