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U.S. Bank Sponsors National Society of Hispanic MBA Scholarship Program

CINCINNATI--(BUSINESS WIRE)--Oct. 27, 2006--U.S. Bank has awarded $10,000 to the National Society of Hispanic MBAs (NSHMBA) scholarship program as part of its U.S. Bank LatinaStyle credit card program. U.S. Bank made the presentation on Friday, Oct. 27 at the NSHMBA 17th Annual Conference and Career Expo at the Duke Energy Center in Cincinnati.

LatinaStyle magazine is a national publication dedicated to the needs and concerns of the contemporary Latina professional in the United States. It recently ranked U.S. Bank among the top 50 employers for Latinas in the United States. In conjunction with U.S. Bank's scholarship sponsorship, LatinaStyle has pledged $10,000 in-kind advertising space to NSHMBA in their magazine spread.

Carlos Amaya, vice president and manager of multicultural programs for U.S. Bank in Ohio, Kentucky and Tennessee, will present the check on behalf of the bank. "U.S. Bank takes great pride in having the opportunity to support NSHMBA's scholarship program and to contribute to the educational development of the Hispanic community. This is our inaugural sponsorship of this program and we look forward to a continuing partnership that advances Hispanic individuals now and in the future."

Last year alone, NSHMBA provided 56 Hispanic graduate students with more than $1 million in scholarships. U.S. Bank has united with this cause to further its commitment, support and sponsorship of higher learning among the Hispanic community.

U.S. Bank is committed to the Hispanic market through its business products and services, in addition to its employment opportunities. U.S. Bank was one of the first banks in the United States to accept the Matricula as a form of identification when opening an account. It also offers MoneyGram money transfer services through all of its branch offices. U.S. Bank participates in "Welcome Home," a national project aimed at training and hiring returning bilingual military personnel to work in the mortgage field. In 2004, U.S. Bank partnered with the United States Hispanic Chamber of Commerce to offer Capital!, a loan program for small businesses in high-growth Hispanic markets nationwide.

U.S. Bancorp (NYSE:USB), 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. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com.

Note to Editors: There should be an inverted exclamation mark before the "C" in "Capital!"

CONTACT: U.S. Bank Media Relations
Teri Charest, 612-303-0732


"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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