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U.S. Bank Offers Northwest Airlines WorldPerks Visa Credit Card Members Flexible New Benefits

MINNEAPOLIS--(BUSINESS WIRE)--Oct. 2, 2006--U.S. Bank has collaborated with Northwest Airlines to offer a new suite of exclusive benefits that allow WorldPerks Visa card members greater flexibility in using their WorldPerks miles, as well as adding other product benefits not previously available with the cards.

The cards, which are available as a Visa Signature, Platinum or Business, will now allow card members to redeem up to two award tickets a year for as little as 19,000 miles each. These 6,000-mile per ticket discounts are valid any day on any domestic PerkSaver or PerkPass award seat. WorldPerks Visa Signature card members will also have the ability to redeem 10,000 WorldPerks miles for a $100 off travel on Northwest Airlines.

WorldPerks Visa Signature and Business card members will also receive a free day on a three-day weekend rental from National Car Rental for any vehicle up to full size, and all WorldPerks Visa card members will receive complimentary membership in National's Emerald Club program. Additionally, Signature and Business card members will receive free membership in the Hideaways Aficionado Club, which offers discounts and VIP perks at the world's most alluring hotels, resorts and cruise lines. WorldPerks Signature and Business card members will continue to benefit from a personal concierge service, available 24-hours-a-day, for travel, dining reservations, gift arrangements, and home and business services.

WorldPerks Visa cardholders will also receive a $300 Northwest Airlines travel certificate for any new or refinanced home mortgage from U.S. Bank.

"U.S. Bank and Northwest Airlines have had a long partnership that is respected and admired in the industry for our ability to innovate and provide customers with added value for the commitment they make in choosing the WorldPerks Visa card," said Rob Morris, senior vice president of U.S. Bank Retail Payment Solutions.

The new benefits begin in October 2006 and will be available to current and new card members. Current card members will receive a packet in the mail that resembles a Northwest Airlines ticket jacket, complete with ticket-like vouchers describing the new benefits and terms. The design on the cards has also been updated with the introduction of the new benefits. The new card will replace old cards as they expire. For more information, visit www.worldperksvisa.com or call 1-877-978-7446.

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 Media Relations
Steve Dale, 612-303-0784


"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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