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U.S. Bancorp Women Named Top Banking Team in the United States

MINNEAPOLIS--(BUSINESS WIRE)--Oct. 2, 2006--U.S. Banker magazine has ranked U.S. Bancorp number one in the nation for its team of women in executive positions at the company. The "Top Banking Team" award was announced in the October 2006 issue of the magazine, which also featured two U.S. Bancorp women among the "25 Most Powerful Women in Banking."

Three bank teams were selected based on the combined overall performance of senior women who head business units and functional areas across the enterprise. U.S. Bank nominated a team of women in commercial banking, commercial real estate, consumer banking, corporate banking, payments and wealth management as well as business support units including credit, finance, human resources, legal, risk, technology and operations.

Pam Joseph, vice chairman for payments at U.S. Bancorp, and Diane Thormodsgard, president of U.S. Bank Corporate Trust Services, Institutional Trust and Custody, were named among the most powerful women in banking. Joseph, who was featured on the cover, ranked ninth and Thormodsgard ranked 12th.

"U.S. Bancorp has talented bankers across the company, who believe in this organization and give tirelessly to make it successful," said Richard Davis, president and chief operating officer of U.S. Bancorp. "We are thrilled for Pam and Diane, and join U.S. Banker magazine in celebrating the achievements of women in the financial services industry."

Holly Sraeel, editor-in-chief of U.S. Banker magazine, wrote in her congratulatory letter to U.S. Bancorp, "The intent of the ranking is to give readers a new dimension through which they can view the top performances of women across a bank enterprise." Regarding U.S. Bancorp's top team honor Sraeel noted, "...the individual performances of women executives leading growth-oriented businesses and the bank's overall year-to-date performance were deciding factors in U.S. Bancorp's placement."

U.S. Banker is a monthly magazine published by SourceMedia and is not affiliated with U.S. Bancorp. It is the leading banking business management magazine, written for those individuals who are charged with generating greater profits and shareholder value for their financial institutions. Originally titled United States Investor when it was launched in 1891, U.S. Banker is the magazine that senior-level industry executives have turned to for the latest industry coverage for the past 112 years.

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. Bancorp
Steve Dale, 612-303-0784

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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