DATE:       October 9, 2000
                                  CONTACTS:   Ron Carlson, President
                                              Scripps Financial Corporation
                                              858/720-7131

                                              William E. Nelson, Chairman
                                              Scripps Financial Corporation
                                              858/720-7137

                                              Cathy Wright, CFO
                                              Scripps Financial Corporation
                                              858/720-7148


            SCRIPPS FINANCIAL CORPORATION DISCUSSES THE IMPACT OF THE
                U.S. BANCORP AND FIRSTAR CORPORATION TRANSACTION


SAN DIEGO, CALIF., OCTOBER 9, 2000 - San Diego headquartered Scripps Financial
Corporation (Amex:SLJ) has noted the public announcement of the intention of
Firstar Corporation (NYSE:FSR) to merge with U.S. Bancorp (NYSE:USB) at an
exchange ratio of 1.265 shares of Firstar Corporation for each share of U.S.
Bancorp. Since the exchange ratio for the acquisition of Scripps Financial
Corporation by U.S. Bancorp had been set at 1.067 shares of U.S. Bancorp for
each share of Scripps Financial Corporation, the additional premium for Scripps
Financial Corporation shareholders reinforces the opinions of the Scripps
Financial Corporation Board that its transaction with U.S. Bancorp is in the
best interest of Scripps Financial Corporation shareholders. As of October 6,
2000, Scripps Financial Corporation has received proxies representing 65.0% of
its outstanding shares voting in favor of the Scripps Financial Corporation/U.S.
Bancorp merger. The announcement of the merger of U.S. Bancorp and Firstar
Corporation will not change the Scripps Financial Corporation shareholder
meeting date of October 13, 2000. Scripps Financial Corporation and U.S. Bancorp
currently expect their transaction to close on or shortly after October 13,
2000. Scripps Financial Corporation also observed that Firstar Corporation and
U.S. Bancorp have noted that their transaction is subject to shareholder and
regulatory approval and is not expected to close until the first quarter of
2001.





San Diego headquartered Scripps Financial Corporation is the parent company of
Scripps Bank. Specializing in relationship banking, Scripps Bank offers a
Private Banking atmosphere and a tradition of quality service for businesses,
professionals and individuals throughout San Diego County. The Company maintains
full service regional banking offices in La Jolla, El Cajon, Downtown San Diego,
Escondido, Kearny Mesa, Encinitas, Point Loma and Chula Vista. Scripps Bank also
delivers specialized Trust, Investment, Corporate Lending, SBA Lending,
Construction Loan and Real Estate Lending, Equipment Leasing, Residential
Lending, International, Cash Management, Online Banking, Property Management
Banking, HOA and Remittance Processing services. In 1999, Scripps Bank was
awarded the Findley Reports "10 Year Premier Performing Bank" award. For more
information on Scripps Financial Corporation and Scripps Bank, visit the
company's web site at http://www.scrippsbank.com.

The definitive agreement to merge with U.S. Bancorp (NYSE:USB) was announced in
a press release issued June 27, 2000, whereby U.S. Bancorp will acquire Scripps
Financial Corporation in a stock transaction valued at approximately $155
million. The acquisition is pending approval by Scripps Financial Corporation
shareholders at a special meeting of shareholders to be held on October 13,
2000.

ADDITIONAL INFORMATION

U.S. Bancorp has filed a Registration Statement on Form S-4 in connection with
the merger. Scripps Financial Corporation mailed a Proxy Statement/Prospectus to
its shareholders on September 13, 2000. These materials contain more information
about U.S. Bancorp, Scripps Financial Corporation, the merger and related
matters. U.S. Bancorp has also filed a report on Form 8-K addressing the
transaction with Firstar Corporation. INVESTORS ARE URGED TO READ THE
REGISTRATION STATEMENT AND THE PROXY STATEMENT/ PROSPECTUS AND ANY OTHER
RELEVANT DOCUMENTS FILED WITH THE SEC, BECAUSE THOSE MATERIALS CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors can obtain the documents
free of charge at the SEC's website (www.sec.gov). Documents filed with the SEC
are also available through





commercial document-retrieval services. In addition, documents filed with the
SEC by Scripps Financial Corporation may be obtained free of charge by
contacting Scripps Financial Corporation, Attn: Investor Relations, 5787
Chesapeake Court, Suite 104, San Diego, CA 92123, (858) 456-2265. Documents
filed with the SEC by U.S. Bancorp will be available free of charge by
contacting U.S. Bancorp, Attn: Office of the Corporate Secretary, 601-2nd Av.
S., Minneapolis, MN 55402, (612) 973-1111. Shareholders should read the Proxy
Statement/Prospectus carefully before making any voting or investment decision.

Scripps Financial Corporation, its directors and executive officers are
soliciting proxies from the shareholders of Scripps Financial Corporation. The
directors and executive officers of Scripps Financial Corporation are identified
in the report on form 10-K filed with the SEC. These individuals beneficially
own approximately 32% of the outstanding shares of Scripps Financial
Corporation. Additional information regarding the persons who may, under SEC
rules, be deemed to be participants in the solicitation of shareholders of
Scripps Financial Corporation in connection with the proposed merger, and their
interests in the solicitation, is included in the Proxy Statement/Prospectus.

                                   ### END ###

    STATEMENTS CONCERNING THE EXPECTED EFFECTIVE DATE OF THE MERGER, FUTURE
  DEVELOPMENTS OR EVENTS, AND ANY OTHER GUIDANCE ON FUTURE PERIODS, CONSTITUTE
      FORWARD-LOOKING STATEMENTS WHICH ARE SUBJECT TO A NUMBER OF RISKS AND
    UNCERTAINTIES WHICH MIGHT CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM
  STATED EXPECTATIONS. THESE FACTORS INCLUDE BUT ARE NOT LIMITED TO REGULATORY
 REVIEWS AND APPROVALS, COMPETITION IN THE FINANCIAL SERVICES MARKETS FOR
       DEPOSITS, LOANS, AND OTHER FINANCIAL SERVICES, AND GENERAL ECONOMIC
CONDITIONS. THE FORWARD-LOOKING STATEMENTS SHOULD BE CONSIDERED IN THE CONTEXT
OF THESE AND OTHER RISK FACTORS DISCLOSED IN THE COMPANY'S FILINGS WITH THE SEC.