U.S. Bancorp Makes Strategic Investment in Viewpointe

U.S. BANCORP MAKES STRATEGIC INVESTMENT AND SIGNS AGREEMENT WITH VIEWPOINTE TO UTILIZE ITS IMAGE ARCHIVING SERVICES TO BETTER SERVE CUSTOMERS

Minneapolis, MN - U.S. Bancorp (NYSE: USB) and Viewpointe Archive Services, LLC announced today that U.S. Bancorp has taken an ownership position in Viewpointe and concurrently signed a long-term agreement to implement Viewpointe''s check image archiving technology.

As a result, U.S. Bancorp will join Viewpointe''s partners J.P. Morgan Chase & Co., Bank of America, SunTrust Bank and International Business Machines (IBM) as an owner in the company. Terms of the investment were not disclosed.

Viewpointe''s imaging services will provide U.S. Bancorp the ability to better service customers by providing immediate access to their check information through all channels. In addition, imaging services will enable U.S. Bancorp to more efficiently process and store check information. Ultimately U.S. Bancorp will be able to participate in image exchange- a financial services industry capability that reduces the expense and dependency on the transportation and duplicate processing nature of paper checks.

"Imaging capability will improve our operational efficiencies and dramatically enhance our ability to serve our customers. The checking side of the financial services business was left behind in the information age until now. With imaging, we will now be able to provide our customers information about all of their banking transactions when and how they want", said U.S. Bancorp Vice Chairman William Chenevich.

John Lettko, CEO of Viewpointe Archive Services added, "We are tremendously excited about assisting U.S. Bancorp in their endeavor to better service their customers and improve their operational efficiencies. For Viewpointe, the addition of U.S. Bancorp to our growing number of customers greatly enhances our geographic reach nationally, therefore making image exchange more valuable."