US BANCORP \DE\ — Director's Dealing 2005

Jan 20, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2005-01-18

Reporting Person: MITAU LEE R (EVP, General Counsel & Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-01-18	Common Stock, $0.01 par value	F	5763	$30.40	Disposed	50992	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-18	Employee Stock Option (Right to Buy)	$30.40	A	177946	Acquired	2015-01-18	Common Stock (177946)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	6671.64	Indirect
Common Stock, $0.01 par value	85019	Indirect

Footnotes

F1: Based on a plan report dated 12/31/04, the most recent plan report available.

F2: The option vests in four equal annual installments beginning on January 18, 2006.