US BANCORP \DE\ — Director's Dealing 2007

Apr 23, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2007-04-19

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-04-19	Common Stock, $0.01 par value	M	127348	$29.1518	Acquired	271490	Direct
2007-04-19	Common Stock, $0.01 par value	F	116342	$34.33	Disposed	155148	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-04-19	Employee Stock Option (Right to Buy)	$29.1518	M	127348	Disposed	2009-04-20	Common Stock (127348)	Direct
2007-04-19	Employee Stock Option (Right to Buy)	$34.33	A	116342	Acquired	2009-04-20	Common Stock (116342)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	252.2637	Indirect

Footnotes

F1: Based on a plan report dated March 31, 2007, the most recent plan report available.

F2: The option vested in four equal annual installments beginning on April 20, 2000.