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Thirty Internet College Scholarships Available From U.S. Bank

MINNEAPOLIS--(BUSINESS WIRE)--Oct. 24, 2006--U.S. Bank's 11th annual Internet scholarship program is now accepting applications. High school seniors can now go online to access this source of college scholarship dollars at usbank.com/studentbanking. The U.S. Bank Internet Scholarship program, available only through the Internet, will award up to 30 college scholarships valued at $1,000 each to graduates of the high school class of 2007. Scholarship awards for the past ten years total more than $260,000.

"The cost of a college education increases every year, and U.S. Bank wants to do what it can to help students and parents offset the expense," said Russ Kruse, manager of the U.S. Bank student banking program. "Students and parents can use U.S. Bank's powerful search engine that helps locate other scholarship programs available from a multitude of sources. The site also features information about paying for college, including college financial planning and student loan guides."

The U.S. Bank Internet Scholarship Program application will be available exclusively through the Internet between now and February 28, 2007. Internet access is available at most high schools and public libraries at no charge.

Scholarship award recipients are selected through a random drawing process. Students who plan to attend an accredited two- or four-year college in the fall of 2007 in a full-time course of study are eligible to apply. They must also be a United States citizen or permanent resident alien, and graduate from high school during the 2006-2007 academic year. See the web site for additional scholarship information.

Recipients of a U.S. Bank Internet Scholarship will be notified of their selection during the spring of 2007. Only high school seniors are eligible for the scholarship program.

U.S. Bank is one of the top student banking institutions in the nation, providing a comprehensive line of student banking products including student loans, campus ID card programs, Internet banking, U.S. Bank student checking and savings, and Visa Buxx(R)prepaid spending cards. U.S. Bank student loans offer quality toll-free customer service, state-of-the-art loan processing, online application accessibility, and a variety of repayment options that offer savings to borrowers. Student loan products include Federal Stafford, PLUS, Consolidation, and Supplemental education loans.

U.S. Bancorp (NYSE:USB), with assets of $217 billion, is the sixth-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. 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
Amy Frantti
Media Relations
612-303-0733

SOURCE: U.S. Bank

"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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