US BANCORP \DE\ — Director's Dealing 2008

Apr 18, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2008-04-17

Reporting Person: CECERE ANDREW (Vice Chairman, CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-04-17	Common Stock, $0.01 par value	M	50000	$29.1518	Acquired	176120	Direct
2008-04-17	Common Stock, $0.01 par value	S	50000	$33.10	Disposed	126120	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-04-17	Employee Stock Option (Right to Buy)	$29.1518	M	50000	Disposed	2009-04-20	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	7174.1653	Indirect
Common Stock, $0.01 par value	341	Indirect

Footnotes

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

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