Cullen/Frost Bankers Increases Quarterly Cash Dividend

SAN ANTONIO, April 24 /PRNewswire-FirstCall/ -- The Cullen/Frost Bankers, Inc. board of directors declared a second quarter cash dividend of $.42 per common share, a 5 percent increase from the previous dividend of $.40 per common share. The dividend is payable June 13, 2008 to shareholders of record on May 30 of this year.

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Cullen/Frost Bankers, Inc. is a financial holding company, headquartered in San Antonio, with assets of $13.8 billion at March 31, 2008. 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 more than 100 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 one of the largest banks headquartered in Texas, with a legacy of helping Texans with their financial needs during three centuries.

Greg Parker Investor Relations 210.220.5632 or Renee Sabel Media Relations 210.220.5416