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U.S. Bank Multi Service Aviation Creates Co-Branded Affinity Card Program for Flight Options, LLC

OVERLAND PARK, Kan., Oct 16, 2006 (BUSINESS WIRE) -- U.S. Bank Multi Service Aviation has created a co-branded affinity card program that fractional aircraft service provider Flight Options, LLC, can use to gain brand recognition throughout the aviation industry and streamline business processes.

As one of the largest fractional aircraft ownership companies in the world, Flight Options strives to meet the unique needs of its clients and deliver the results that their owner/members expect. Paramount to their success is a focus on delivering the highest level of customer service possible.

Flight Options wanted to streamline the tracking of flight expenses, including fuel, catering and other services. The Flight Options Multi Service Aviation co-branded affinity card provides detailed transaction information, delivers brand recognition, and helps ensure Flight Options' pricing programs are utilized.

"We have enjoyed a long-term partnership with Multi Service Aviation. A benefit of the combination of U.S. Bank and Multi Service Aviation was the Flight Options affinity card," said S. Michael Scheeringa, chief executive officer, Flight Options, LLC. "This card will bring increased awareness of the Flight Options brand to the market."

By creating a co-branded affinity card with Multi Service Aviation, Flight Options can also utilize Multi Service Aviation's closed network of over 7,000 merchants in more than 190 countries that accept the Multi Service Aviation Card, while still maintaining their brand and utilizing their own pricing discounts and programs.

"The Flight Options co-branded affinity card program truly expands our existing relationship," said Diane Criswell, vice president of Multi Service Aviation. "We are excited to work with Flight Options on this affinity card program, and we look forward to the areas of new growth this successful program will create for both companies."

About Flight Options, LLC

Flight Options, LLC offers the complete spectrum of programs from Fractional First(TM) ownership to leasing to JetPASS Ultimate Travel membership and has received the prestigious ARG/US Platinum Safety Rating three times. The Flight Options fleet of over 150 aircraft includes the world's largest fleets of Beechjet 400As and Legacy Executive aircraft. Flight Options' fleet consists of the Beechjet 400A, Hawker 400XP, Hawker 800XP, Citation X and Legacy. More information is available at www.flightoptions.com or by calling 877-703-2348.

About Multi Service Aviation

For over 25 years, Multi Service Aviation has served the aviation industry with financial integrity, security, and unsurpassed customer service. The Multi Service Aviation Card is accepted worldwide by more than 7,000 aviation service providers in over 190 countries and has been voted the Best Fuel Card by Professional Pilot magazine's PRASE Survey every year since the survey began in 1992. Multi Service Aviation provides cardholders with customized billing, free online account maintenance, and savings on fuel, while giving merchants account flexibility, free business promotion, competitive card processing, and fast transaction authorization and settlement. Multi Service Aviation promises that whatever you fly, wherever you go, the Multi Service Aviation Card is the only card you need. To learn more about U.S. Bank Multi Service Aviation, visit www.aviation.multiservice.com.

Multi Service Aviation is part of U.S. Bank Corporate Payment Systems and its parent company, 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. Visit U.S. Bancorp on the web at www.usbank.com.

SOURCE: U.S. Bank Multi Service Aviation

U.S. Bank Media Relations
Teri Charest, 612-303-0732
OR
Multi Service Aviation
Jill Heisterkamp, 913-344-6532

"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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