Cullen/Frost Bankers Converts Alamo Bank of Texas in Rio Grande Valley Locations to Frost Bank

SAN ANTONIO, June 22 /PRNewswire-FirstCall/ -- Cullen/Frost Bankers, Inc. announced the conversion of the locations of Alamo Bank of Texas to Frost Bank, effective at the close of business on June 23, 2006.

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When Cullen/Frost completed the acquisition of Alamo Bank of Texas parent company, Alamo Bancshares, in late February, it continued to operate the Alamo Bank locations under that name. With the conversion, the 10 Alamo Bank locations throughout the Rio Grande Valley become Frost Bank and now operate under the Frost name. This brings the number of Frost Bank financial centers in the Rio Grande Valley to 13 and the number of locations statewide to 93. Alamo Bank of Texas customers can now access the full range of Frost Bank services at any location statewide.

In conjunction with the conversion and the bank's expanded presence in the area, Frost has established the Rio Grande Valley Region and announced its leadership team. Former Alamo Bank of Texas president and CEO, Allen Shields, will be president of the Rio Grande Valley Region, with Raymond Jenkins, formerly McAllen market president for Frost, serving as chairman.

"We are pleased to welcome Alamo Bank of Texas customers to the Frost Bank family," said Dick Evans, Cullen/Frost Bankers CEO. "Both of our companies share a commitment to providing superior customer service and a focus on building long-term relationships, and we look forward to working together to expand our presence in this important and growing region."

Allen Shields, former Alamo Bank CEO and now Rio Grande Valley regional president for Frost, said, "Now that the conversion process is completed, we will be able to provide our customers with expanded resources and the broad range of financial services Frost offers."

Cullen/Frost Bankers, Inc. is a financial holding company, headquartered in San Antonio, with assets of $11.6 billion at March 31, 2006. The corporation provides a full range of commercial and consumer banking products, investment and brokerage services, insurance products and investment banking services. Its subsidiary, Frost Bank, operates 93 financial centers across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost is the largest national bank headquartered in Texas, helping Texans with their financial needs during three centuries.

Greg Parker Investor Relations 210/220-5632 or Renee Sabel Media Relations 210/220-5416