U.S. Bancorp Announces Revision to Series B Non-Cumulative Perpetual Preferred Stock Quarterly Dividend Amount

U.S. Bancorp (NYSE: USB) announced today that its board of directors has revised the dividend payment amount for the regular quarterly dividend to be paid on shares of its Series B Non-Cumulative Perpetual Preferred Stock on July 15, 2008. The revised dividend payment amount of $221.18 per share (equivalent to $0.22118 per depositary share (USB PR H)) will be paid on that date to stockholders of record at the close of business on June 30, 2008.

U.S. Bancorp, with $242 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,522 banking offices and 4,844 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.