US BANCORP \DE\ — Director's Dealing 2004

Dec 22, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2003-12-18

Reporting Person: DAVIS RICHARD K (President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-18	Common Stock, $0.01 par value	G	12948	—	Disposed	71732.24	Direct
2003-12-18	Common Stock, $0.01 par value	G	12948	—	Acquired	50386	Indirect
2004-11-16	Common Stock, $0.01 par value	G	3323	—	Disposed	47063	Indirect
2004-11-16	Common Stock, $0.01 par value	G	8306	—	Disposed	38757	Indirect
2004-11-16	Common Stock, $0.01 par value	G	3323	—	Disposed	35434	Indirect
2004-11-16	Common Stock, $0.01 par value	G	1064	—	Disposed	34370	Indirect
2004-12-20	Common Stock, $0.01 par value	F	4195	$29.90	Disposed	67537.24	Direct
2004-12-20	Common Stock, $0.01 par value	G	8632	—	Disposed	58905.24	Direct
2004-12-20	Common Stock, $0.01 par value	G	8632	—	Acquired	43002	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	7170.92	Indirect

Footnotes

F1: Includes share amounts acquired in October 2004 pursuant to the U.S. Bancorp Dividend Reinvestment Plan in transactions exempt under Rule 16a-11.

F2: Based on a plan report dated 11/30/04, the most recent plan report available.