US BANCORP \DE\ — Director's Dealing 2006

Feb 15, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2006-02-13

Reporting Person: OWENS ODELL M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-02-13	Common Stock, $0.01 par value	M	13592	$20.8582	Acquired	13592	Direct
2006-02-13	Common Stock, $0.01 par value	S	13592	$29.87	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-13	Non-Employee Director Stock Option (Right to Buy)	$20.8582	M	13592	Disposed	2008-04-14	Common Stock (13592)	Direct

Footnotes

F1: The option vested in four equal annual installments beginning on April 14, 1999.