COMMERCE BANCSHARES, INC. DECLARES DIVIDEND

(Kansas City, MO, April 16, 2003) Commerce Bancshares, Inc. announced that its Board of Directors has approved a regular quarterly dividend of $.165 per share on the Company's common stock payable June 26, 2003, to stockholders of record at the close of business on June 6, 2003.

About Commerce Bank
Commerce Bancshares Inc. (NASDAQ: CBSH) is 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:
Jeffery D. Aberdeen, Controller
(816) 234-20818

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

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