US BANCORP \DE\ — Director's Dealing 2007

Apr 26, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2007-04-25

Reporting Person: DOYLE MICHAEL J (EVP, Chief Credit Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-04-25	Common Stock, $0.01 par value	M	10000	$30.00	Acquired	43061.0384	Direct
2007-04-25	Common Stock, $0.01 par value	S	10000	$34.56	Disposed	33061.0384	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-04-25	Employee Stock Option (Right to Buy)	$30.00	M	10000	Disposed	2016-01-17	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	2543.5187	Indirect

Footnotes

F1: Includes additional amounts acquired in April 2007 pursuant to a dividend reinvestment plan in a transaction exempt under rule 16a-11.

F2: Based on a plan report dated March 31, 2007, the most recent plan report available.

F3: The option vests in four equal annual installments beginning on January 17, 2007.