U.S. Bank Equipment finance names Patrick MC Dermott
to Capital Equipment Group

WESTPORT, Conn. - November 13, 2006 - U.S. Bank Equipment Finance has named Patrick McDermott as vice president and area manager for the capital equipment group. In this new position, McDermott has responsibility for new business development and sales, providing equipment financing solutions to middle-market through investment-grade companies in southern New York, including New York City and Long Island, N.Y., as well as northern New Jersey. He is based in Westport, Conn.

McDermott comes to U.S. Bank Equipment Finance with nearly 15 years of leasing and financing industry experience. Most recently he worked for TD Banknorth, N.A. and, prior to that, ORIX Structured Finance, Bank of America, GE Capital and Cummins Engine Company, all from a Connecticut base.

"Patrick's unique background, which includes 12 years of machinery technical experience in the northeast, will broaden the reach for us in this important market. I believe his ability to understand the technical and business side of companies in addition to the financing aspect will be of great benefit to our clients and potential clients," said Eric Jackson, vice president and regional manager of the capital equipment group.

McDermott earned a bachelor's degree in industrial technology from the Colorado State University. He resides in Fairfield, Connecticut, with his wife. He can be reached at (203) 221-2747.

U.S. Bank Equipment Finance, one of the largest bank-affiliated equipment finance companies in the nation, has been providing quality equipment finance solutions for 35 years. It's a major funding source for companies in virtually every industry sector nationwide. Visit U.S. Bank Equipment Finance on the web at www.usbank.com/leasing.

U.S. Bank Equipment Finance is part of U.S. Bancorp (NYSE: USB). With assets of $217 billion, U.S. Bancorp is the 6th largest financial holding company in the United States. The company operates 2,462 banking offices and 4,943 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com.

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