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U.S. Bancorp Honors Outstanding Employee Volunteerism with Second Annual Five Star Volunteer Awards

MINNEAPOLIS--(BUSINESS WIRE)--Sept. 12, 2006--U.S. Bancorp, parent company of U.S. Bank, continues its support of nonprofit organizations by encouraging and rewarding the extraordinary volunteer work of its 52,000 employees with its second annual U.S. Bank Five Star Volunteer Award program.

U.S. Bancorp will recognize more than 100 employees who provide exceptional volunteer service to a nonprofit organization in their community. In addition to company recognition, U.S. Bancorp will award the nonprofit up to $1,000 in honor of the employee.

"U.S. Bancorp is fortunate to have dedicated employees, and to be able to do business in the communities it serves," said Richard Davis, president and chief operating officer of U.S. Bancorp. "Supporting the volunteer work of our employees is one way we can show our appreciation to members of our organization, and to our communities."

U.S. Bancorp has a long-standing record of community leadership in the key areas of affordable housing, economic opportunity, arts and culture, education and community service. The company received the highest rating possible from the Office of the Comptroller of the Currency in 2004 for its commitment to the Community Reinvestment Act (CRA), meeting the credit needs of all segments of the communities that U.S. Bancorp serves.

U.S. Bank Five Star Volunteer Award nominations may be made by an employee or by a nonprofit organization. To request a nomination form, send an e-mail to: fivestarvolunteer@usbank.com. The 2006 nomination deadline is October 15.

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 Media Relations
             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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