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U.S. Bank Names Pat Coll to Lead Its Retail Payments Businesses

MINNEAPOLIS & PHILADELPHIA--(BUSINESS WIRE)--Sept. 6, 2006--U.S. Bank has named card industry veteran Patrick (Pat) Coll to the position of executive vice president of retail payments, overseeing the company's consumer credit, debit, stored value and prepaid card businesses.

Coll brings nearly 35 years of banking, marketing and card industry experience to the position. He most recently founded Percolate, which is a marketing services company, and prior to that was chairman and chief executive officer of Fleet Bank Credit Card Services, where he had been since 1998. When at Fleet Bank, Coll served on the company's enterprise-wide payments council. He has also worked for Household and Citibank, and served as president and chief executive officer of Krupp/Taylor, a direct marketing subsidiary of Foote Cone & Belding.

"Pat has experience and an impressive track record of growing revenue through strategic marketing and new product development, and will extend the excellent reputation U.S. Bank has in retail payments," said Pamela Joseph, vice chairman for payment services at U.S. Bancorp, parent company of U.S. Bank. "He will also establish a presence for U.S. Bank Payment Services in Philadelphia, where he will expand our existing payments team."

Coll is originally a native of Chicago, but has become an active member of the Philadelphia community over the past eight years, both within the financial industry and nonprofit community. He was a member of the Federal Reserve Bank Advisory Council in the Philadelphia District, and has worked with organizations including the United Way, Junior Achievement and the Ronald McDonald House.

Patricia Wesner will continue in her position as executive vice president, reporting directly to Coll, who began in his new position on Sept. 1. She will remain in Milwaukee and he will be based in Philadelphia.

U.S. Bancorp (NYSE:USB), with more than $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. Visit U.S. Bancorp on the web at www.usbank.com.

MULTIMEDIA AVAILABLE:
http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5222273

CONTACT: U.S. Bank Media Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com

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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