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U.S. Bank Invests in Legacy Headquarters Market with ''PowerBank'' Strategy and 400 New Hires in Oregon

PORTLAND, Ore.--(BUSINESS WIRE)--Jan. 30, 2007--U.S. Bank is investing in Oregon in 2007 and rolling-out a new "PowerBank" strategy aimed at solidifying its place as the bank of choice for Oregonians. U.S. Bank will hire more than 400 new employees by the end of 2007 as a result of the PowerBank initiative. Approximately 100 new hires have already taken place. The new hires will be in the branch offices, primarily in the teller position, all focused on better service for customers.

In addition to increased staff, Oregonians will also see extended hours, new and refurbished branch offices, enhanced ATMs, self-serve coin counters, a new small business service center, a banking program for kids, a retiree program, a team dedicated to identifying and resolving service issues, regular customer surveys, and increased print and broadcast advertising.

"Every line of business will introduce new services or offerings as a result of PowerBank," said Malia Wasson, president of U.S. Bank in Oregon. "Even more importantly, PowerBank is not just a Portland initiative. Its scope will reach across Oregon affecting all of our customers, employees, retirees and others who have an interest in U.S. Bank. We're excited about the investments that we are about to make and are confident that Oregonians will be pleased with the results."

U.S. Bank has 203 offices in Oregon and southwest Washington far outpacing all competitors. The company also employs more than 4,700 residents, which will increase to more than 5,000 by the end of 2007. The official launch of U.S. Bank's PowerBank initiative is April 30, 2007.

U.S. Bancorp (NYSE:USB), with $219 billion in assets, is the 6th largest financial holding company in the United States. The company operates 2,472 banking offices and 4,841 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 usbank.com.

    CONTACT: U.S. Bank
             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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