COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2004

Aug 17, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2004-08-16

Reporting Person: KEMPER DAVID W (Director, Chairman of the Board, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-08-16	Common Stock	S	200	$47.39	Disposed	1015179	Direct
2004-08-16	Common Stock	S	200	$47.37	Disposed	1014979	Direct
2004-08-16	Common Stock	S	100	$47.3	Disposed	1014879	Direct
2004-08-16	Common Stock	S	2600	$47.19	Disposed	1012279	Direct
2004-08-16	Common Stock	S	600	$47.17	Disposed	1011679	Direct
2004-08-16	Common Stock	S	5406	$47.16	Disposed	1006273	Direct
2004-08-16	Common Stock	S	10894	$47.15	Disposed	995379	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	10402	Indirect
Common Stock	1461	Indirect
Common Stock	18125	Indirect
Common Stock	18129	Indirect
Common Stock	5653	Indirect
Common Stock	18129	Indirect
Common Stock	1907208	Indirect
Common Stock	37998	Indirect
Common Stock	136699	Indirect
Common Stock	18117	Indirect