US BANCORP \DE\ — Director's Dealing 2008

Jan 30, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2008-01-29

Reporting Person: CARLSON JENNIE P (EVP, Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-01-29	Common Stock, $0.01 par value	M	35442	$21.541	Acquired	43930	Direct
2008-01-29	Common Stock, $0.01 par value	S	35442	$33.8358	Disposed	8488	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-01-29	Employee Stock Option (Right to Buy)	$21.541	M	35442	Disposed	2010-12-12	Common Stock (35442)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	16337.5501	Indirect
Common Stock, $0.01 par value	18313.9613	Indirect
Common Stock, $0.01 par value	1800	Indirect

Footnotes

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

F2: The option vested in four equal annual installments beginning on December 12, 2001.