COMMERCE BANCSHARES, INC. INCREASES PERCENTAGE OF INDEPENDENT DIRECTORS ON ITS BOARD

St. Louis, January 31, 2003 -- Commerce Bancshares, Inc. announced today that its Board of Directors approved a decrease in the size of the Board from fifteen directors to thirteen. The decrease will be accomplished by the resignations of Mr. William Sullins, current Vice Chairman of the Board, and Robert C. Matthews, Executive Vice President of the Company.

In announcing the changes, Mr. David W. Kemper, Chairman of the Board and Chief Executive Officer, said, "This change is a result of the decision to increase the percentage of independent directors on the Board. As officers of the company, neither Mr. Sullins nor Mr. Matthews qualify as independent directors." The Board determined that eleven of the thirteen directors are considered independent under current definitions.

About Commerce Bank
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:
Jeffery D. Aberdeen, Controller
(816) 234-20818

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

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