US BANCORP \DE\ — Director's Dealing 2006

Aug 16, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2006-08-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-14	Common Stock, $0.01 par value	M	16362	$29.87	Acquired	152288	Direct
2006-08-14	Common Stock, $0.01 par value	M	20404	$29.87	Acquired	172692	Direct
2006-08-14	Common Stock, $0.01 par value	M	30958	$29.1021	Acquired	203650	Direct
2006-08-14	Common Stock, $0.01 par value	M	3574	$29.87	Acquired	207224	Direct
2006-08-14	Common Stock, $0.01 par value	S	64198	$32.05	Disposed	143026	Direct
2006-08-14	Common Stock, $0.01 par value	S	2700	$32.08	Disposed	140326	Direct
2006-08-14	Common Stock, $0.01 par value	S	4400	$32.09	Disposed	135926	Direct
2006-08-15	Common Stock, $0.01 par value	M	64858	$29.87	Acquired	200784	Direct
2006-08-15	Common Stock, $0.01 par value	S	57900	$32.28	Disposed	142884	Direct
2006-08-15	Common Stock, $0.01 par value	S	6958	$32.33	Disposed	135926	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-14	Employee Stock Option (Right to Buy)	$29.87	M	16362	Disposed	2006-12-19	Common Stock (16362)	Direct
2006-08-14	Employee Stock Option (Right to Buy)	$29.87	M	20404	Disposed	2006-12-19	Common Stock (20404)	Direct
2006-08-14	Employee Stock Option (Right to Buy)	$29.1021	M	30958	Disposed	2006-12-19	Common Stock (30958)	Direct
2006-08-14	Employee Stock Option (Right to Buy)	$29.87	M	3574	Disposed	2006-12-19	Common Stock (3574)	Direct
2006-08-15	Employee Stock Option (Right to Buy)	$29.87	M	64858	Disposed	2006-12-19	Common Stock (64858)	Direct