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Brazilian Aircraft Manufacturer Embraer Signs Agreement with U.S. Bank Equipment Finance and Multi Service Aviation

OVERLAND PARK, Kan., Oct 18, 2006 (BUSINESS WIRE) -- Brazilian aircraft manufacturer Embraer today signed a program agreement with the aviation branch of U.S. Bank Equipment Finance and U.S. Bank Multi Service Aviation at the National Business Aviation Association (NBAA) Annual Meeting & Convention in Orlando, Fla. The agreement includes customized financing through U.S. Bank Equipment Finance for Embraer's U.S. business jet customers along with a Multi Service Aviation Affinity Card. The agreement covers the Embraer Phenom 100 very light and the Phenom 300 light jets, the super mid-size Legacy 600 and the ultra-large executive jet Lineage 1000.

Under the new program agreement, U.S. Bank Equipment Finance will employ its expertise and long-term experience to provide custom financing solutions to Embraer's business jet customers. "We're proud to align with a global aircraft leader such as Embraer," said Jamie Gioia, executive vice president and general manager of the vendor finance group of U.S. Bank Equipment Finance. "For corporate aircraft customers, combining the acquisition costs with a card program establishes a higher degree of transparency to monitor and manage their total aviation expenses."

The Multi Service Aviation Legacy Affinity Card will be initially offered to eligible Embraer Legacy 600 business jet customers. As the Phenom 100, Phenom 300 and Lineage 1000 enter into service (mid-2008, mid-2009 and mid-2008, respectively) the program will also be presented to their new owners. All of the affinity card programs will be implemented and supported by Multi Service Aviation. The Legacy Affinity Card has the same worldwide terms of acceptance as the Multi Service Aviation Card and allows the user to earn loyalty reward points when used for aviation-related purchases such as fuel, maintenance, hangar charges, catering, landing fees and more. To further streamline accounting practices, aircraft payments financed through U.S. Bank can also be billed on the affinity card.

According to Robert Abele, executive vice president of U.S. Bank Corporate Payment Systems and Multi Service Aviation, "The Legacy Affinity Card enhances brand recognition and provides customers with an aviation card that offers global acceptance along with detailed transaction data critical to managing today's business operations."

According to Paulo Cesar de Souza e Silva, Embraer senior vice president, Sales Financing, "Embraer is pleased to work with U.S. Bank, as it will bring financial solutions with innovative and flexible financing alternatives to accommodate our customers' needs."

"This agreement solidifies our commitment to providing customers with diverse financing and aviation payment options," said Luis Carlos Affonso, executive vice president, Executive Jets for Embraer. "We are excited to work with U.S. Bank Equipment Finance and Multi Service Aviation in this endeavor. The Legacy Affinity Card and its rewards program is something we feel our clients will truly benefit from and will help them streamline their accounting processes, leading to improved business practices."

About the Agreement Parties

Embraer (Empresa Brasileira de Aeronautica S.A. - NYSE:ERJ; Bovespa:EMBR3) is the world's leading manufacturer of Commercial jets up to 110 seats with 37 years of experience in designing, developing, manufacturing, selling and providing after sales support to aircraft for the Commercial Aviation, Executive Aviation, and Defense and Government segments. With headquarters in Sao Jose dos Campos, State of Sao Paulo, the Company has offices and customer service bases in the United States, France, Portugal, China and Singapore. Embraer is among Brazil's leading exporting companies. As of September 30, 2006, Embraer had a total workforce of 18,336 people, and its firm order backlog totaled US$13.3 billion.

In May 2005, Embraer announced the expansion of its executive jets offering, which began with the Legacy 600 in 2001, now totaling 80 deliveries in 18 countries and representing a 13.5% market share of the super midsize category. The Phenom 100 and Phenom 300 jets were introduced targeting the very light and light jet segments. Embraer unveiled the Phenom mock-ups at the National Business Aviation Association (NBAA) convention, held in Orlando, Florida, in November 2005, where they will be exhibited again in this year's edition of the event.

In May 2006, Embraer introduced the Lineage 1000, an ultra-large business jet based on the Embraer 190 commercial jet platform. Embraer unveiled plans for the Lineage 1000 at the European Business Aviation Convention & Exhibition (EBACE), held in Geneva, Switzerland.

U.S. Bancorp (NYSE:USB) is the parent company of U.S. Bank Equipment Finance and Multi Service Aviation, which is a part of U.S. Bank Corporate Payment Systems. With assets of $217 billion, is the 6th largest financial holding company in the United States. The company operates 2,462 banking offices and 4,943 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.

U.S. Bank Equipment Finance is one of the largest bank-affiliated equipment finance companies in the nation. U.S. Bank Equipment Finance has been providing quality equipment finance solutions for 35 years and is a major funding source for companies in virtually every industry sector nationwide. Visit U.S. Bank Equipment Finance on the web at www.usbank.com/leasing.

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. 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.

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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