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U.S. Bank Celebrates One-Year Anniversary of MoneyGram Alliance with Special Offer

MINNEAPOLIS, Nov 02, 2006 (BUSINESS WIRE) -- U.S. Bank has seen an increase in business in its retail branch offices as a result of its alliance with MoneyGram, which it began offering in all U.S. Bank locations one year ago. U.S. Bank is MoneyGram's largest financial institution money transfer agent in the United States.

To celebrate the one-year anniversary, U.S. Bank will offer customers a discount to send funds to any of MoneyGram's more than 100,000 money transfer agent locations in more than 170 countries worldwide, for a flat fee of $5 through Nov. 30, 2006.

"The program has exceeded our expectations and continues to grow month over month," said Stephanie Miller, vice president and manager of emerging markets at U.S. Bank. "It has driven new traffic into our branches because the service appeals to a broad market. Funds have been sent to 147 different countries from our metropolitan markets as well as from our community markets across the United States."

The Inter-American Development Bank recently announced a jump in remittance volume from $30 billion in 2004 to $45 billion in 2006. Latin America continued to be the top recipient of remittances from the United States, and while the states that are the largest source of remittances to Latin America remained the same - California, Texas, New York and Florida - many states within the U.S. Bank footprint, including Wisconsin, Tennessee, Arkansas, Kansas, Kentucky, Nebraska and Iowa, saw increases of more than 80 percent in the last two years. The study also found that nearly 90 percent of the income generated by remitters remained in their local, U.S. economy. For more information on the report, visit www.iadb.org/news.

MoneyGram is the second largest money-transfer provider in the world with more than 100,000 agents in 170 countries, and offers low-priced money transfer options and some of the best foreign exchange rates in the money transfer industry.

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.

SOURCE: U.S. Bank

U.S. Bank
Teri Charest
612-303-0732
teri.charest@usbank.com

"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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