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U.S. Bank Commercial Real Estate Opens Office in Houston

HOUSTON--(BUSINESS WIRE)--Aug. 24, 2006--U.S. Bank Commercial Real Estate opened a new office in Houston's West Loop/Galleria area. Located at 5555 San Felipe St., Suite 1150, the office is managed by Ron Gray, senior vice president and market manager for U.S. Bank Commercial Real Estate.

Rhonda Sands, senior relationship manager, and Felicia Auzenne, senior underwriter/assistant relationship manager, work at the Houston office with Gray. There are plans to add additional staff to the team at the Houston office.

"Ron has a significant number of years working with middle-market and institutional real estate companies in both the Houston and San Antonio markets," said Stewart Wilson, senior vice president and regional manager for U.S. Bank Commercial Real Estate. "Given his experience, expertise, and reputation, Ron will be able to develop and promote the U.S. Bank brand in these markets in a relatively short period of time."

The new U.S. Bank Commercial Real Estate office will help generate growth in revenue and earnings by better serving and broadening existing client relationships, and add multiple new clients in the Houston and San Antonio markets that have approximately seven million people. The office will provide capital and banking services to commercial real estate professionals in Houston with additional focus on prospects located in the relatively nearby San Antonio.

The opening of the Texas location gives U.S. Bank Commercial Real Estate 31 offices in the United States. U.S. Bank Commercial Real Estate is the fourth largest commercial real estate lender in the United States. The U.S. Bank Commercial Real Estate team focuses on providing construction, acquisition, renovation, mezzanine and permanent financing to commercial real estate developers and investors nationwide. It also provides deposit services, treasury management and capital market products.

U.S. Bancorp (NYSE:USB), with assets of $213 billion, is the 6th 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
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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