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U.S. Bank Names Leslie Godridge to Establish National Corporate Banking Office in New York

NEW YORK--(BUSINESS WIRE)--March 20, 2007--U.S. Bank, the nation's 6th largest commercial bank, has named Leslie Godridge executive vice president and head of its newly established national corporate banking office in New York City.

In her new position, she will be responsible for establishing and leading the company's national corporate banking activities on the east coast, which will allow U.S. Bank to expand the number of clients it does business with in these markets, including both public and privately held companies with revenues greater than $250 million. The new office also means U.S. Bank's east coast-based corporate customers will have easier access to the bank's full range of products and services, including payment processing, deposit services, international banking services, treasury management and capital markets products. U.S. Bank also plans to add additional staff at its New York national corporate banking office throughout the upcoming year.

U.S. Bank's wholesale banking unit is one of the largest in the nation, with many of its businesses ranked among the top in the industry. It is the nation's fourth largest commercial real estate lender and the third largest agricultural lender, and it is one of the largest treasury management providers. U.S. Bank is also a leading depository bank for state and municipal governments. Through the company's payments business, it is the number two fleet card issuer and largest freight payment provider, and it is the second largest purchasing card issuer in the world. U.S. Bank's corporate trust unit is the largest national structured trustee and the second largest national municipal trustee in the United States.

A veteran of the banking industry with more than 25 years of experience, Godridge most recently worked for The Bank of New York, where she served as senior executive vice president and member of its executive committee. She was formerly head of the company's U.S. commercial banking unit and cash management sales. Most recently, she was head of asset management, private banking, consumer banking and regional commercial banking.

"We are very pleased that Leslie has joined us," said Richard Payne, vice chairman of corporate banking at U.S. Bank. "With her leadership and her focus on helping clients get the most out of the wide range of industry-leading products and services we have to offer, we will be even better positioned to deliver on our wholesale banking strategy and to truly be the bank of choice for large businesses based on the east coast."

Godridge is involved with a number of community and professional organizations, including the Museum of the City of New York, Junior Achievement, New York Botanical Gardens, the New York Public Library, and a member of the Women's Financial Association. She holds a Bachelor's degree from Smith College and a Master's of Business Administration in finance from New York University's Stern School of Business, and resides in New York with her husband and their two children.

U.S. Bancorp (NYSE:USB), with $219 billion in assets, is the parent company of U.S. Bank. 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. Visit U.S. Bancorp on the web at usbank.com.

Jennifer Wendt, Media Relations, 612-303-0731

"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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