COMMERCE BANCSHARES, INC. DECLARES STOCK AND QUARTERLY DIVIDENDS

St. Louis - October 25, 2002 - Commerce Bancshares, Inc. announced today that its Board of Directors approved a five percent stock dividend. Certificates evidencing the dividend are to be distributed on December 13, 2002, to shareholders of record at the close of business on November 29, 2002. No fractional shares will be issued and shareholders will receive cash for such fractional interests based on the market value of the stock on the record date.

The Board of Directors also declared a regular quarterly dividend of $.1625 per share on the Company's common stock payable December 13, 2002, to stockholders of record at the close of business on November 29, 2002. The dividend will not be payable as to any shares to be issued pursuant to the five percent stock dividend, which was also declared this date.

About Commerce Bank
Commerce Bancshares Inc. (NASDAQ: CBSH) a $13.2 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) 234-2081

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

# # #