Commerce Bancshares Declares Special $1.50 Dividend

Commerce Bancshares, Inc.

announced today that its Board of Directors approved a 5 percent stock dividend payable on December 17, 2012 to shareholders of record at the close of business on November 30, 2012. Shares issued as a result of the stock dividend will be entered by Direct Registration System on the records of the company's transfer agent. 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.