COMMERCE BANCSHARES, INC. WILL NOT APPLY FOR FEDERAL CAPITAL PURCHASE PROGRAM

St. Louis, MO, November 14, 2008 -- Commerce Bancshares, Inc. (NASDAQ: CBSH) today announced it would not apply for funds available through the Federal Treasury’s Capital Purchase Program (CPP). The program is part of the federal government’s Troubled Assets Relief Program (TARP) approved by Congress in October to strengthen the banking system by providing banks with additional capital to increase lending capabilities.

“Commerce carefully studied the program and while we think it is good for our industry and the economy, we have made a business decision not to seek federal CPP funds,” said Commerce Bancshares chairman, president and CEO, David W. Kemper. “Commerce’s earnings, capital and liquidity are strong and sufficient to grow our business and take advantage of new opportunities.” Kemper continued, “The current banking and economic environment is historic and has understandably created a high degree of uncertainty. However, Commerce is well positioned to face this challenge.”

“We recognize that the intention of the Treasury’s Capital Purchase Program is to enhance both the safety and liquidity of the commercial banking system. We believe this program will be successful in accomplishing this objective,” Kemper added.

About Commerce Bank

Commerce Bank, N.A. is a subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), a $17.0 billion regional bank holding company. For more than 140 years, Commerce Bank has been meeting the financial services needs of individuals and businesses. Commerce Bank provides a diversified line of financial services, including business and personal banking, wealth management and estate planning and investments through its subsidiary and affiliated companies. Commerce Bank currently operates in approximately 350 locations in Missouri, Kansas, Illinois, Oklahoma and Colorado. Commerce Bancshares also has operating subsidiaries involved in mortgage banking, leasing, credit-related insurance, venture capital and real estate activities.

For additional information contact:

Jeffery Aberdeen, Controller
PO Box 419248, Kansas City, MO
816-234-2081
Email: Jeffery.Aberdeen@commercebank.com†
Web Site: www.commercebank.com

For media inquiries contact:

Jeanne D. Howard
Director of Regional Marketing
Commerce Bancshares, Inc.
314-746-3672
Email: jeanne.howard@commercebank.com†
Web Site: www.commercebank.com
SYMBOL: CBSH