US BANCORP \DE\ — Director's Dealing 2008

May 1, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2008-04-29

Reporting Person: DAVIS RICHARD K (Chairman, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-04-29	Common Stock, $0.01 par value	S	1500	$34.49	Disposed	241565.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	1100	$34.50	Disposed	240465.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	800	$34.51	Disposed	239665.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	800	$34.52	Disposed	238865.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	300	$34.53	Disposed	238565.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	600	$34.55	Disposed	237965.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	400	$34.58	Disposed	237565.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	400	$34.64	Disposed	237165.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	400	$34.65	Disposed	236765.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	400	$34.66	Disposed	236365.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	700	$34.67	Disposed	235665.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	200	$34.68	Disposed	235465.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	800	$34.69	Disposed	234665.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	1000	$34.70	Disposed	233665.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	1500	$34.71	Disposed	232165.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	100	$34.72	Disposed	232065.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	1700	$34.73	Disposed	230365.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	200	$34.74	Disposed	230165.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	300	$34.76	Disposed	229865.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	100	$34.77	Disposed	229765.9882	Direct
2008-04-29	Common Stock, $0.01 par value	S	100	$34.79	Disposed	229665.9882	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	10270.6199	Indirect
Common Stock, $0.01 par value	60999	Indirect

Footnotes

F1: Based on a plan report dated March 31, 2008, the most recent plan report available.