Wednesday January 16, 5:27 pm Eastern Time

SOURCE: U.S. Bancorp

U.S. Bank Corporate Trust Introduces Commercial Paper Internet Reporting System

MINNEAPOLIS--(BUSINESS WIRE)--Jan. 16, 2002--U.S. Bank Corporate Trust Services introduced its state-of-the-art Internet reporting and processing system for commercial paper and medium-term issuing and paying agency clients, U.S. Bank Securities Processing Automated Note System Online (U.S. Bank SPANS Online). U.S. Bank Corporate Trust Services is the first institution to offer complete web-based reporting and processing for money market instrument issuers.

U.S. Bank SPANS Online provides issuers of commercial paper, medium-term notes, and other money market instruments with balance information, transaction details and analysis tools without the issuer having to maintain special software or a dedicated computer. Benefits of the new system are full-featured Internet access, customizable reports, approval of trade prior to release for settlement, export of data into a variety of useful formats, ability to set varying security levels, multi-currency capability, index comparisons and other report and research information.

``U.S. Bank SPANS Online was developed in response to our customers requests and needs,'' said Diane Thormodsgard, president of U.S. Bank Corporate Trust Services. ``This flexible, user-friendly system provides anytime, anywhere access to information important to our customers.''

A self-guided demonstration of U.S. Bank SPANS Online is available at www.spansonline.usbank.com. For more information about commercial paper, issuing and paying agency, and other money market services offered at U.S. Bank, visit www.usbank.com/corporatetrust.

U.S. Bank Corporate Trust Services is one of the nation's largest providers of trustee services with more than $700 billion in assets under administration in municipal, corporate, asset-backed and international bonds. In addition, it provides paying agent, escrow agent, stock transfer and document collateral services through its network of offices nationwide.

Minneapolis-based U.S. Bancorp (NYSE: USB - news), with assets in excess of $171 billion, is the 8th largest financial services holding company in the United States. The company operates 2,186 banking offices and 4,937 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 home of the Five Star Service Guarantee which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience. U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank. Visit U.S. Bancorp on the web at usbank.com and Firstar Bank at firstar.com.

Since 1994 Open Information Systems, (OIS) has been providing innovative Internet based solutions to Fortune 1000 companies worldwide. OIS' ability to rapidly deliver custom branded Internet solutions for the data delivery and transaction initiation needs of the Financial Services Industry is without parallel. OIS' clients include some of the most prestigious banks, brokerage firms and insurance companies from around the world including J.P. Morgan Chase, Citibank, U.S. Bancorp and SEI Investments. OIS' solutions are designed to leverage a firm's investment in existing technology while providing their customers with the Internet solutions they demand. Open Information Systems is a privately held company located in Sandy Hook, CT. For more information about the company and its products visit www.openinfo.com.

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