NOVA Information Systems Becomes Elavon, Joining Europe in Establishment of Global Acquiring Solutions Organisation

NOVA Information Systems (NOVA), a wholly-owned subsidiary of U.S.
Bancorp (NYSE:USB), is today unveiling its new global company name

Elavon. This follows in the wake of its European affiliate, euroConex

which rebranded to Elavon Merchant Services in 2007. Elavon
effectively unites the company´s acquiring solutions organisation to
address the expanding payment processing needs of its partners and
clients.

In conjunction with the rebranding, Elavon announces the
development of a new international processing platform which, within
Europe, will allow the card acquirer to meet the operational
challenges of SEPA head-on.

Elavon´s development of an international processing platform sees
the card acquirer harmonise its operations into a single network. This
will allow for the efficient processing of international, cross-border
transactions in place of domestic processing, and is a key challenge
for the European industry in creating a Single European Payment Area
(SEPA). Globally, this platform will allow Elavon to respond quickly
to evolving security requirements and technology advances, enabling
international merchants to enjoy the benefits of a single acquiring
relationship and accounting function.

Stuart C, Harvey, Jr., Chief Executive Officer of Elavon

comments:

"Uniting NOVA, euroConex and our other brands under one company
name positions Elavon to be recognised as the global leader in the
payments industry. Our investment in developing an international
processing platform delivers the scale necessary to quickly respond to
client and market needs. We now have the opportunity to develop deeper
relationships with our customers and partners that broadens our reach
into new markets worldwide."

Elavon is positioned to capitalise on emerging market
opportunities. Beyond its own strong organic growth, Elavon has
profited from several investments made by U.S. Bancorp in driving its
expansion. These strategic acquisitions include the Citibank Card
Acceptance business in Europe, Cardpoint in Poland, and both First
Horizon Merchant Services and Southern DataComm in the United States.

Pamela Joseph, vice chairman, Payment Services, U.S. Bancorp

comments:

"U.S. Bank continues to demonstrate its commitment to the payments
space by making wise investments in our growth. We believe in the
strength of Elavon´s business model and the opportunities it fosters
as we expand worldwide."

Roger Alexander, President of Elavon Merchant Services in Europe
comments:

"Global end-to-end control enables us to capitalise on emerging
market opportunities like SEPA, while keeping our clients compliant

secure, efficient and financially poised for success in the global
economy."

About Elavon

Elavon´s Global Acquiring Solutions organisation is a part of U.S.
Bancorp (NYSE:USB). Elavon provides end-to-end payment processing
services to more than one million merchants in the United States

Europe, Canada and Puerto Rico. Solutions include credit and debit
card processing, electronic check services, gift cards, dynamic
currency conversion, multi-currency support, and cross-border
acquiring. Elavon´s services are marketed through multiple alliance
partner channels including financial institutions, trade associations
and ISOs. Elavon has solutions to meet the needs of merchants in
specialised markets including small business, retail, hospitality/T&E

health care, education and the public sector. For more information
visit www.elavon.com.

If you would like to speak to Roger Alexander for comment please
contact:

Gwyneth Pritchard
Elavon Merchant Services - Europe
ph +44 (0)1483 480147 or +44 (0)782 333 0497