COMMERCE BANCSHARES, INC. DECLARES DIVIDEND

(Kansas City, July 27, 2001) - Commerce Bancshares, Inc. announced today that its Board of Directors has approved a regular quarterly dividend of $.16 per share on the Company's common stock payable September 28, 2001 to stockholders of record at the close of business on September 14, 2001.

Commerce Bancshares, Inc. is a registered bank holding company offering a full line of banking services, including retail and commercial banking, investment management and securities brokerage. The Company currently operates in approximately 330 locations in Missouri, Illinois, and Kansas. The Company also has other operating subsidiaries involved in mortgage banking, credit related insurance, venture capital, and real estate activities.

For more information contact:
Jeffery D. Aberdeen, Controller
(816) 234-2081

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

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