GOOD RESPONSIVENESS TO AREA CREDIT NEEDS CITED AS COMMERCE BANK ACHIEVES "OUTSTANDING" CRA RATING

Kansas City, MO - January 29, 2003 -- Commerce Bank, Kansas City, has earned the highest rating possible for its Community Reinvestment Act (CRA) Performance Evaluation. The Office of the Comptroller of the Currency (OCC), the federal agency responsible for examining national banks, gave the bank an "outstanding rating for meeting the credit needs of its local community, consistent with the safe and sound operation of the bank." This is the third time in a row that Commerce Bank has earned the outstanding rating. Through the first six months of 2002, the OCC had conducted and closed 174 examinations, only 14 percent of the banks examined, including Commerce received an Outstanding rating, 86 percent received a Satisfactory rating.

"Commerce Bank has always been committed to serving the financial needs of our entire community," commented Jonathan M. Kemper, chairman of Commerce Bank, Kansas City. "The fact that the OCC has recognized our efforts with an Outstanding rating is a tribute to the efforts of all our Bankers who give back to the community. The Bank gives through specific lending and investment programs and our Bankers who give with their time and service to the many area community groups that help make Kansas City a great place to live."

The OCC cited good responsiveness to credit needs, an excellent level of community development lending and excellent responsiveness to community development needs as reasons contributing to the outstanding rating. The OCC mentioned that the bank's lending levels reflect good responsiveness in relation to area credit needs. Specifically, in 2000, Commerce ranked third in market share for home improvement loans.

Commerce originated a high level of community development loans that greatly enhanced its lending performance, particularly in low- and moderate-income areas. According to the OCC, this lending had a positive impact on the lending test. Among many examples, the OCC cited 26 loans totaling $118 million for projects assisting with the redevelopment or stabilization of low- and moderate-income areas in the core downtown areas of Kansas City, Mo. Additionally, 26 loans totaling $5.8 million that assisted organizations in the acquisition and/or construction of affordable housing units for low- and moderate-income families were also cited.

In earning the outstanding rating, the OCC also identified numerous examples of Commerce's excellent responsiveness to community development needs, including $9.7 million in equity investments and donations. This funding supported SBIC (Small Business Investment Companies) financing and supported affordable housing for low- and moderate-income residents. SBICs are privately owned and managed investment firms that provide venture capital and start-up financing to small businesses. SBICs are licensed and regulated by the Small Business Administration.

The examination tests three major factors: Lending, Investments and Service. The Lending Test evaluates a bank's record of helping to meet the credit needs of its assessment areas through its lending activities by considering a bank's home mortgage, small business, small farm and community development lending. The Investment Test evaluates a bank's record of helping to meet the credit needs of its assessment areas through qualified investments that benefit its assessment areas. The availability and effectiveness of a bank's systems for delivering retail banking services and the extent and innovativeness of its community development services are evaluated by the Service Test. The evaluation period for the Lending Test and community development services was from January 1, 1999 through December 31, 2001. The evaluation period for the community development investments was from April 4, 1999 through April 22, 2002.

The OCC examines large national banks for CRA compliance every three years.

About Commerce Bank
Commerce Bank is the principal subsidiary of Commerce Bancshares Inc (NASDAQ: CBSH), a $13.3 billion regional bank holding company. For more than 135 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 Bancshares operates across three states with more than 340 locations and also has operating subsidiaries involved in mortgage banking, credit related insurance, venture capital and real estate activities.

For more information contact:
Nancy E. Levin, APR
Director, Regional Marketing
816-234-2632

Website: www.commercebank.com
e-mail: mymoney@commercebank.com
SYMBOL: CBSH

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