US BANCORP \DE\ — Director's Dealing 2005

Feb 17, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2005-02-16

Reporting Person: DOLAN TERRANCE R (EVP, Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-02-16	Common Stock, $0.01 par value	A	2745	$30.12	Acquired	15962	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-02-16	Employee Stock Option (Right to Buy)	$30.12	A	37088	Acquired	2015-02-16	Common Stock (37088)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	1491.29	Indirect

Footnotes

F1: Based on a plan report dated 1/31/05, the most recent plan report available.

F2: The option vests in four equal annual installments beginning on February 16, 2006.