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U.S. Bank Opens Five New In-Store Offices, Total Now Exceeds 500

MINNEAPOLIS--(BUSINESS WIRE)--Nov. 15, 2006--U.S. Bank will open five new in-store offices in California, Colorado, Oregon and Tennessee on Friday, Nov. 17 pushing the total number of U.S. Bank branches in grocery store locations to more than 500. U.S. Bank will hold "Big 500" celebrations at all locations Nov. 17 through Dec. 1.

    The five new in-store branch locations are at:

    --  Conifer Safeway, 27152 Main St. in Conifer, Colo.;

    --  Hwy 20 Safeway at 2650 NE HWY 20 in Bend, Ore.;

    --  Rancho California Vons at 29530 Rancho California Rd. in
        Temecula, Calif.;

    --  Saturn Vons at 665 Saturn Blvd. in San Diego and

    --  Caldwell Square Publix at 460 Long Hollow Pike in
        Goodlettsville, Tenn.

The first 500 customers in each location will have a chance to win $50,000 in the U.S. Bank BIG 500 dice roll and the first 2,000 customers will receive scratch off cards with a variety of prizes including a $500 store gift card. All customers will also be able to register for a grand prize trip to the "Big 500" race in Indianapolis May 25-28. Customers who open new checking accounts will also see special rates on CDs and home equity lines of credit, and receive free gift cards.

"U.S. Bank has made the in-store model successful because we offer everything you would expect from a traditional branch, but with the added convenience of being in a grocery store location. Most people visit their bank and their grocery store approximately twice-a-week, which is why the combination is convenient and a boon to both the bank and the retail partner," said Chuck Stroup, executive vice president of in-store branch banking at U.S. Bank. "Our in-store bank employees should be very proud of the growth of this business line at U.S. Bank. Their dedication to providing five star service and unmatched convenience attract hundreds new customers to U.S. Bank each and every week."

U.S. Bank has the third-largest in-store banking network in the nation. It most recently partnered with Schnuck Markets and opened 25 locations in the St. Louis area in May 2005. In 2003, it inked major partnerships with supermarket retailers Publix, Smith's, Safeway and Vons. The deals resulted in an additional six branches in Publix stores in Nashville, 15 branches in Smith's in Utah, and 153 locations in Safeway and Vons stores throughout California, Arizona and Nevada.

U.S. Bank is a subsidiary of U.S. Bancorp (NYSE:USB). With assets of $217 billion, U.S. Bancorp is the 6th largest financial holding company in the United States. The company operates 2,467 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.

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

    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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