COMMERCE BANCSHARES INC /MO/ — Director's Dealing 2005

Jan 27, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2005-01-26

Reporting Person: PETRIE MICHAEL J (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-01-26	Common Stock	M	3616	$28.5428	Acquired	10041	Direct
2005-01-26	Common Stock	S	3616	$47	Disposed	6425	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-26	Stock Option (right to buy)	$28.5428	M	3616	Disposed	2009-02-01	Common Stock (3616)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	16648	Indirect