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ACS Adds U.S. Bank as Custodial Choice for HSA Partners and Clients

MINNEAPOLIS--(BUSINESS WIRE)--Oct. 31, 2006--U.S. Bank announced today that its U.S. Bank Health Savings Account (HSA) Solution will be offered by Affiliated Computer Services, Inc. (NYSE:ACS) as an additional custodian option as part of the ACS HSA Solution(TM) product.

The U.S. Bank Health Savings Solution will leverage the HSA market leadership of ACS. Currently, the ACS HSA Solution is distributed through more than 55 national and regional leaders in health care benefits, as well as directly to individual employers representing numerous FORTUNE 500 companies.

    The U.S. Bank option features:

  • a portfolio of investment options from multiple, name-brand fund families;

  • web-based consumer healthcare support tools;

  • check and debit card payment capabilities;

  • a dedicated customer service call center and IVR; and

  • industry-leading employee communication and enrollment materials.

"This partnership is the culmination of much joint discussion in determining what will best serve the marketplace - quality custodial 'choice' for employers and employees," said Daniel Kelly, senior vice president for U.S. Bank Institutional Trust & Custody, and manager of U.S. Bank Health Savings Solution. "U.S. Bank has more than 100 years of custodial experience, and this arrangement with ACS provides a substantial distribution channel for that expertise."

"We are pleased to provide our clients with a second, premier national custodian. U.S. Bank offers a recognized institutional HSA product, broad local and national market presence and an industry-leading service guarantee," said Gregg Larson, ACS principal and national HSA product leader.

ACS, a global FORTUNE 500 company with more than 55,000 people supporting client operations reaching nearly 100 countries, provides business process outsourcing and information technology solutions to world-class commercial and government clients. The Company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS". ACS makes technology work. Visit ACS on the Internet at www.acs-inc.com.

U.S. Bancorp (NYSE:USB), with assets of $217 billion, is the 6th largest financial services holding company in the United States. The company operates 2,462 banking offices and 4,943 ATMs in 24 states, 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.

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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