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April 11, 2012 15:30 UTC

U.S. Bank Celebrates Reopening of Historic
Howard Theatre

Bank Officials Join Developer, City Officials and Music Legends at
Grand Opening Gala and Benefit for Nation’s Oldest African American
Theatre

WASHINGTON–(BUSINESS WIRE)–
Officials from U.S. Bank, Howard Theatre Restoration, Inc., Ellis
Development Group, and City officials will gather on Thursday, April 12
to celebrate the grand reopening of the Howard Theatre with a
star-studded gala and benefit concert featuring performances and
appearances by some of the most legendary figures in the worlds of
music, comedy and dance.

U.S. Bank, through its community development subsidiary, provided more
than $10 million in financing in support of the $29 million historic
renovation. The financing package included New Markets and Historic Tax
Credit financing structured in partnership with Hampton Roads Ventures,
Mid-City Community CDE, and DC Housing Enterprises. U.S. Bank also
serves as a gala event sponsor.

“We’re proud to be a partner of choice in the revival of this social,
cultural and architectural landmark,” said Laura Vowell, Vice President
of U.S. Bank. “Howard Theatre Restoration and Ellis Development had a
vision that this historically-important but badly-neglected structure
could be brought back to life, and they assembled a team to do it.
Financial support from U.S. Bank and our partners helped ensure that a
building which played a significant role in Washington DC’s past will do
so again in the future.”

Located near the corner of 7th and T Streets, the Howard
Theatre—”The Theatre for the People”—was originally constructed in 1910
and served as one of the oldest and most popular performing arts venues
for African American singers and musicians when the nation was deeply
divided by segregation. Late greats such as Ella Fitzgerald, Duke
Ellington, Marvin Gaye, The Supremes and Sidney Poitier all performed at
the Howard Theatre. The theatre closed in 1980.

Redeveloped by Howard Theatre Restoration, Inc. in collaboration with
the District of Columbia and the Ellis Development Group, the 16-month
restoration of the theatre returns it to its original use as a premier
performing arts venue.

“Our long term goal has been to re-establish the Howard Theatre as the
‘crown jewel’ of the arts and entertainment community in the District,”
said Malik Ellis, a Principal for Ellis Development Group. “The
dedication and collaboration of all those involved in this public and
private partnership have made our vision a reality.”

In addition to financing from U.S. Bank, the renovation of the theatre
has been made possible with support from Eagle Bank, the District of
Columbia Office of the Deputy Mayor for Planning and Economic
Development, the Philip Graham Fund, Howard University, the National
Park Service’s Save Our America’s Treasures Program and contributions
from individual donors.

About Ellis Development Group, LLC
The Ellis Development
Group is based in the Washington, D.C. metropolitan area and specializes
in mixed-use real estate development in emerging neighborhoods. Ellis
Development Group is committed to understanding and building
relationships with local residents, retailers and corporate partners to
ensure that development complements the need, desires and flavor of the
community. Its goal is to be a catalyst in transforming communities
while ensuring that the past, present and future are embraced.

About Howard Theatre Restoration, Inc.
Howard Theatre
Restoration, Inc. (HTR) is a 501(c)(3) nonprofit organization whose
mission is to revitalize, preserve and protect the historic Howard
Theatre in Washington, DC. HTR has led this collaborative effort with
the District of Columbia and other private entities to bring the life,
the music, and the people back to The Howard Theatre.

About U.S. Bank
U.S. Bancorp (NYSE: USB), with $340 billion
in assets as of Dec. 31, 2011, is the parent company of U.S. Bank, the
fifth-largest commercial bank in the United States. The company operates
3,085 banking offices in 25 states and 5,053 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 and its employees are dedicated to
improving the communities they serve, for which the company earned the
2011 Spirit of America Award, the highest honor bestowed on a company by
United Way. Visit U.S. Bancorp on the web at www.usbank.com.

Contacts

Nicole Garrison-Sprenger
U.S. Bank Public Relations
(612)
303-0731, nicole.sprenger@usbank.com

Source: U.S. Bancorp