U.S. Bank Grows PowerTrack with Addition of AIMS Logistics

Business Wire, Oct 9, 2007

MINNEAPOLIS & COLLIERVILLE, Tenn. -- U.S. Bank, the lead bank and subsidiary of U.S. Bancorp (NYSE:USB), and AIMS Logistics, Inc., a leading services provider to the logistics industry, have announced that U.S. Bank has purchased AIMS Logistics.

Under the purchase agreement, AIMS Logistics will operate as part of the PowerTrack Payment Network within the Corporate Payment Systems division of U.S. Bank. The purchase is expected to add billions of dollars in invoicing processing volume to the PowerTrack Payment Network, solidifying U.S. Bank PowerTrack as the leading commercial payment solutions provider. Terms of the purchase, which closed on October 1, were not disclosed.

"We are excited about the opportunity to bring PowerTrack financial supply chain services to AIMS Logistics customers," said Richard G. Langer, general manager for PowerTrack. "Our customers will have the advantage of enhanced global invoice processing capabilities, and will also gain value through the deep experience and knowledge of AIMS employees."

"This purchase supports U.S. Bank's strategy to build fee-based revenue opportunities within our payment businesses and opens a new stream of business opportunity as we offer our full suite of payment and banking services to the AIMS Logistics customers," said Robert Abele, president of U.S. Bank Corporate Payment Systems.

"AIMS Logistics has built an exemplary reputation within the industry, and we see the purchase as a perfect way to deliver the added value services our customers have been asking for in the supply chain," said David Nelson, president AIMS Logistics.

About AIMS Logistics

Founded in 1994 by brothers Ned and David Nelson, AIMS Logistics had grown to a top five provider of freight audit and payment services in North America and had become the largest provider of these services on the continent of Europe. With 400 employees worldwide, AIMS processes billions of freight payment transactions for its clients and holds operations in Collierville, Tenn.; Brussels, Belgium, Mumbai, India; and Sydney, Australia. With its strong attention to customer service, AIMS boasts of some of the highest client retention experienced in this industry.

About PowerTrack

PowerTrack provides trusted commercial payment solutions for payables, receivables, freight, telecom, utilities, and global trade payments. Global companies seeking to eliminate expenses while increasing fiscal control and business intelligence rely upon PowerTrack to make millions of electronic business-to-business payments each year in currencies around the world. Efficient invoice delivery and receipt, pre-payment audits, automated approvals, electronic settlement, and integrated trade financing make PowerTrack the leading choice in commercial payment solutions. Visit PowerTrack on the web at www.powertrack.com.

About U.S. Bancorp

U.S. Bancorp, with $223 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,499 banking offices and 4,867 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.