US Bank Consulting

Xalles Continues Support for U.S. Bank’s PowerTrack Service

MINNEAPOLIS and DUBLIN, 14 April, 2003 – Xalles Limited, The Business Navigation Specialists™, today announced their ongoing consulting participation with U.S. Bank’s Corporate Payment Systems division.

In April of 1998, Xalles advisors helped U.S. Bank introduce PowerTrack® as a B2B payment service for its commercial customers in the United States . Xalles developed and managed the implementation strategy, as well as the first customer implementation projects. Since then, Xalles has supported U.S. Bank on an ongoing basis. Xalles has provided assistance and guidance to U.S. Bank in the successful launch of its payment services to its international customers in Canada and Europe , and continues to provide advisory services as PowerTrack® is established around the globe.

“Xalles played a critical role during PowerTrack®’s launch and throughout the transition from start-up to rapid growth. We have been very pleased with the guidance and assistance Xalles has provided us with and are excited to have a continuing and strong relationship with the company,” states Richard Langer , SVP and GM, U.S. Bank Corporate Payment Systems.

Since its initial launch, PowerTrack® has become a leading B2B payment service in North America with continued rapid growth and increased market share in 2003. It is a service that helps buyers efficiently audit, make payments to suppliers and handle exceptions, while helping sellers accelerate customer payments, increase effectiveness of receivables management and minimize write-offs. Large government and corporate customers include the U.S. Department of Defense, Cargill, and John Deere. In 2003, PowerTrack® will process over $2-billion in B2B payments.

“We are proud of our long standing working relationship with U.S. Bank. We were there when PowerTrack® was first introduced and implemented and we are looking forward to continuing our support for the successful roll-out of the PowerTrack® service in North America and Europe in 2003,” states Thomas Nash, Chairman and CEO, Xalles Limited.

About U.S. Bancorp

Minneapolis-based U.S. Bancorp (NYSE: USB), with assets in excess of $171 billion, is the 8th largest financial services holding company in the United States . The company operates 2,186 banking offices and 4,937 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 usbank.com and Firstar Bank at firstar.com.

About Xalles Limited

As an innovative, international management consulting firm, Xalles Limited helps organizations successfully navigate through the business lifecycle by providing distinctive services and solutions. Xalles' successful methodologies include processes and powerful tools that help organizations navigate through business challenges, build visions and integrate them with a solid business design, create an environment of innovation, and implement the changes required to achieve successful results.

For more information about Xalles Limited, visit www.xalles.com .