US BANCORP \DE\ — Director's Dealing 2008

Apr 28, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2008-04-25

Reporting Person: Parker P.W. (Chief Credit Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-04-25	Common Stock, $0.01 par value	M	12670	$19.1001	Acquired	55403	Direct
2008-04-25	Common Stock, $0.01 par value	M	15153	$21.4938	Acquired	70556	Direct
2008-04-25	Common Stock, $0.01 par value	S	8538	$34.29	Disposed	62018	Direct
2008-04-25	Common Stock, $0.01 par value	S	11740	$34.30	Disposed	50278	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-04-25	Employee Stock Option (Right to Buy)	$19.1001	M	12670	Disposed	2011-12-18	Common Stock (12670)	Direct
2008-04-25	Employee Stock Option (Right to Buy)	$21.4938	M	15153	Disposed	2012-12-17	Common Stock (15153)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	1187.8903	Indirect

Footnotes

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

F2: The option vested in four equal annual installments beginning on December 18, 2002.

F3: The option vested in four equal annual installments beginning on December 17, 2003.