Commerce Bancshares, Inc. Increases Dividend 9.6%

    Business Editors

    ST. LOUIS--(BUSINESS WIRE)--Jan. 28, 2005--Commerce Bancshares, Inc. announced today that its Board of Directors declared a quarterly dividend of $.24 per share on the Company's common stock, which represents a 9.6% increase over the prior dividend of $.23 per share when adjusted for the 5-percent stock dividend paid on December 13, 2004. This marks the 36th consecutive year the company has increased total dividends per share. The dividend is payable on March 28, 2005, to stockholders of record at the close of business on March 9, 2005.

    About Commerce Bancshares, Inc.

    Commerce Bancshares Inc. (Nasdaq: CBSH) is a $14.3 billion regional bank holding company. For more than 139 years, Commerce has been meeting the financial services needs of individuals and businesses. Commerce provides a diversified line of financial services, including business and personal banking, wealth management and estate planning and investments through its affiliated companies. Commerce operates across three states with nearly 330 locations and also has operating subsidiaries involved in mortgage banking, credit related insurance, venture capital and real estate activities.

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CONTACT: Commerce Bancshares, Inc. Jeffery D. Aberdeen, 816-234-2081 mymoney@commercebank.com www.commercebank.com

KEYWORD: MISSOURI INDUSTRY KEYWORD: BANKING DIVIDEND SOURCE: Commerce Bancshares, Inc.

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