Cullen/Frost Bankers Announces Quarterly Cash Dividend

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Thu Oct 23, 2008 4:37pm EDT 

SAN ANTONIO, Texas, Oct. 23 /PRNewswire-FirstCall/ -- The Cullen/Frost
Bankers, Inc. board of directors declared a fourth quarter cash dividend of
$.42 per common share. The dividend is payable December 15, 2008 to
shareholders of record on December 1 of this year.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20030109/CFRLOGO)

Cullen/Frost Bankers, Inc. (NYSE: CFR) is a financial holding company,
headquartered in San Antonio, with assets of $14.1 billion at June 30, 2008. 
The corporation provides a full range of commercial and consumer banking
products, investment and brokerage services, insurance products and investment
banking services. Frost operates more than 100 financial centers across Texas
in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Rio Grande Valley
and San Antonio regions. Founded in 1868, Frost is the largest Texas-based
banking organization that operates only in Texas, with a legacy of helping
clients with their financial needs during three centuries.

    Greg Parker
    Investor Relations
    210.220.5632
         or
    Renee Sabel
    Media Relations
    210.220.5416



SOURCE  Cullen/Frost Bankers, Inc.

Investor, Greg Parker, +1-210-220-5632, or Media, Renee Sabel,
+1-210-220-5416, both of Cullen/Frost Bankers, Inc.
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