US BANCORP \DE\ — Director's Dealing 2008

Apr 21, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2008-04-21

Reporting Person: Hidy Richard J (EVP, Chief Risk Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-04-18	Common Stock, $0.01 par value	M	1258	$21.541	Acquired	8340.1557	Direct
2008-04-18	Common Stock, $0.01 par value	M	5789	$21.4938	Acquired	14129.1557	Direct
2008-04-18	Common Stock, $0.01 par value	S	4637	$33.92	Disposed	9492.1557	Direct
2008-04-18	Common Stock, $0.01 par value	S	2300	$33.93	Disposed	7192.1557	Direct
2008-04-18	Common Stock, $0.01 par value	S	110	$33.9184	Disposed	7082.1557	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-04-18	Employee Common Stock (Right to Buy)	$21.541	M	1258	Disposed	2010-12-12	Common Stock (1258)	Direct
2002-04-18	Employee Common Stock (Right to Buy)	$21.4938	M	5789	Disposed	2012-12-17	Common Stock (5789)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	12817.2936	Indirect
Common Stock, $0.01 par value	14.3764	Indirect

Footnotes

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

F2: Includes amounts acquired pursuant to dividend reinvestment in April 2008.

F3: The option vested in four equal annual installments beginning on December 12, 2001.

F4: The option vested in four equal annual installments beginning on December 17, 2003.