U.S. Bank Institutional Trust & Custody Selected to Provide 401(k) Plan for Reid Enterprises

    MINNEAPOLIS--May 7, 2002--Reid Enterprises in Bloomington, Minn., has selected U.S. Bank Institutional Trust & Custody to provide its 401(k) services through U.S. Bank Solution.
    Reid Enterprises is the parent company of several auto dealerships, including White Bear Dodge, Bloomington Chrysler Jeep, Bloomington Chrysler Leasing, Suburban Chrysler, and Arrow Pontiac-GMC Truck. The company employs approximately 340 people.
    "We looked at a new proposal from our previous provider and a number of others, including respected brokerage firms, and opted to go with U.S. Bank due to the outstanding service and advantages afforded to us by the bank in the past. Their super management team for a number of years really took an outstanding concerned interest in all of our business operations," said Larry Reid, owner of Reid Enterprises.
    "Reid Enterprises has a longstanding relationship with U.S. Bank, primarily through our Dealer Commercial Services division," said Dan Denekamp, vice president of Institutional Trust & Custody, U.S. Bank. "Reid Enterprises runs some of the very best auto dealerships in the business, and we are proud to be doing business with them," said Kirk Duholm, vice president of Dealer Commercial Services at U.S. Bank.

    Minneapolis-based U.S. Bancorp , with assets in excess of $165 billion, is the 8th largest financial services holding company in the United States. The company operates 2,147 banking offices and 4,929 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 home of the Five Star Service Guarantee which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience. U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com and Firstar Bank at www.firstar.com.