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

Jan 24, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMMERCE BANCSHARES INC /MO/ (CBSH)
CIK: 0000022356
Period of Report: 2005-01-20

Reporting Person: ABERDEEN JEFFERY D (Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-01-20	Common Stock	M	1825	$11.869	Acquired	10842	Direct
2005-01-20	Common Stock	F	449	$48.18	Disposed	10393	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-20	Stock Option (right to buy)	$11.869	M	1825	Disposed	2005-02-02	Common Stock (1825)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6550	Indirect
Common Stock	249	Indirect
Common Stock	249	Indirect
Common Stock	249	Indirect
Common Stock	1199	Indirect

Footnotes

F1: All holdings reported in column 5 of this form have been restated for a 5% stock dividend, ex-date 11/24/2004.