Comerica (CMA) 8-K Comerica Reports Third Quarter 2007 Earnings

COMERICA REPORTS THIRD QUARTER 2007 EARNINGS

Strong Loan Growth in High Growth Markets
As Corporate Headquarters Relocates to Texas

DALLAS/October 17, 2007— Comerica Incorporated (NYSE: CMA) today reported third quarter 2007 income from continuing operations of $180 million, or $1.17 per diluted share, compared to $196 million, or $1.25 per diluted share, for the second quarter 2007 and $195 million, or $1.20 per diluted share, for the third quarter 2006.

(dollar amounts in millions, except per share data)	3rd Qtr ’07			2nd Qtr ’07			3rd Qtr ’06
Net interest income	$	503		$	509		$	502
Provision for loan losses		45			36			15
Noninterest income		230			225			195
Noninterest expenses		423			411			399
Income from continuing operations, net of tax		180			196			195
Net income		181			196			200
Diluted EPS from continuing operations		1.17			1.25			1.20
Diluted EPS from discontinued operations*		0.01			—			0.03
Diluted EPS		1.18			1.25			1.23
Return on average common shareholders’ equity from continuing operations		14.24	%		15.41	%		15.00	%
Return on average common shareholders’ equity		14.38			15.41			15.38
Net interest margin		3.66			3.76			3.79

* In the fourth quarter 2006, Comerica sold its stake in Munder Capital Management (Munder) and reports Munder as a discontinued operation in all periods presented.

Income from continuing operations for the first nine months of 2007 was $565 million, or $3.61 per diluted share, compared to $597 million, or $3.65 per diluted share, for the first nine months of 2006. The provision for loan losses was $104 million for the first nine months of 2007, compared to $15 million for the same period in 2006. Return on average common shareholders’ equity from continuing operations was 14.83 percent for the first nine months of 2007 and 15.48 percent for the same period in 2006.

“We had strong loan growth in our high-growth markets, particularly Texas,” said Ralph W. Babb Jr., chairman and chief executive officer. “Despite a challenging external environment, we continued to advance our strategy to diversify our customer base and extend our reach in our high-growth markets, including the relocation of our corporate headquarters to Dallas, Texas. The commercial real estate market in Michigan and California continued to be challenged in the third quarter, but our enhanced credit process has positioned us well to manage these credits throughout the cycle.”

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COMERICA REPORTS THIRD QUARTER 2007 EARNINGS — 2

Third Quarter and Year-to-date 2007 Highlights

Third Quarter 2007 Compared to Second Quarter 2007

• On an annualized basis, excluding Financial Services Division (FSD) loans, average loans increased four percent, led by growth of 20 percent in the Texas market, 10 percent in the Florida market and six percent in the Western market, with the Midwest market down two percent. National Dealer Services loans seasonally declined in the third quarter, which affects third quarter to second quarter comparisons. If this decline is also excluded, average annualized loan growth would be seven percent in total, 29 percent in the Florida market, 22 percent in the Texas market and 13 percent in the Western market, with a one percent decline in the Midwest market

• The net interest margin was 3.66 percent in the third quarter 2007, a decrease of 10 basis points from 3.76 percent in the second quarter 2007, largely due to an increase in the investment securities portfolio and funding earning asset growth with more costly funds in a volatile capital markets environment

• Net credit-related charge-offs were $40 million, or 32 basis points as a percent of average total loans, for the third quarter 2007, compared to $30 million, or 24 basis points as a percent of average total loans, for the second quarter 2007

• Noninterest income increased $5 million, spread across many categories

• Noninterest expenses increased $12 million from the second quarter 2007, mostly due to the receipt of a litigation-related insurance settlement of $8 million in the second quarter 2007

• Open market share repurchases in the third quarter 2007 totaled 2.0 million shares, or one percent of total shares outstanding at June 30, 2007

First Nine Months of 2007 Compared to First Nine Months of 2006

• Excluding Financial Services Division loans, average loan growth was seven percent, with 15 percent growth in the Texas market, 13 percent in the Western market, 12 percent in the Florida market and one percent in the Midwest market

• The net interest margin was 3.75 percent, compared to 3.80 percent for the same period in 2006

• Total revenue increased five percent, including 11 percent growth in noninterest income

• Net credit-related charge-offs were 24 basis points as a percent of average total loans for the first nine months of 2007, compared to 13 basis points for the same period in 2006

• The increase in noninterest expenses was contained at $24 million, or two percent, from 2006. Expenses related to new banking centers contributed $17 million and costs associated with the previously announced headquarters move to Dallas, Texas, contributed $4 million of the increase. Full time equivalent employees increased only one percent from September 30, 2006 to September 30, 2007, even with the net addition of 21 new banking centers during the period

• Open market share repurchases in the first nine months of 2007 totaled 8.9 million shares, or six percent of total shares outstanding at December 31, 2006

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COMERICA REPORTS THIRD QUARTER 2007 EARNINGS — 3

Net Interest Income and Net Interest Margin

(dollar amounts in millions)	3rd Qtr ’07			2nd Qtr ’07			3rd Qtr ’06
Net interest income	$	503		$	509		$	502
Net interest margin		3.66	%		3.76	%		3.79	%
Selected average balances:
Total earning assets	$	54,641		$	54,304		$	52,500
Total loans		49,874			49,793			48,125
Total loans, excluding FSD loans (primarily low-rate)		48,683			48,213			46,032
Total interest-bearing deposits		30,276			30,049			29,133
Total noninterest-bearing deposits		10,840			11,633			12,723
Total noninterest-bearing deposits, excluding FSD		8,265			8,356			8,644

• The $6 million decrease in net interest income in the third quarter 2007, when compared to second quarter 2007, resulted primarily from higher cost funding sources, in part due to a decline in noninterest-bearing deposits in the Financial Services Division, partially offset by the impact of one more day in the third quarter 2007 ($5 million) and growth in earning assets

• The net interest margin of 3.66 percent declined 10 basis points, reflecting a change in the funding mix, including customer movement toward higher-cost deposits, and an increase in borrowings. The impact of a decline in average Financial Services Division noninterest bearing deposits was essentially offset by a decline in average Financial Services Division loans (primarily low-rate). Maturing interest rate swaps provided a three basis point positive contribution to the margin, which was offset by the impact of a $320 million increase in the investment securities portfolio

Noninterest Income

Noninterest income was $230 million for the third quarter 2007, compared to $225 million for the second quarter 2007 and $195 million for the third quarter 2006. The $5 million increase in noninterest income in the third quarter 2007, compared to the second quarter 2007, reflected positive trends in commercial lending fees, letter of credit fees, foreign exchange income, brokerage fees and investment banking fees, an increase in net income (loss) from principal investing and warrants ($5 million), and securities gains of $4 million, partially offset by an $8 million decrease in deferred compensation plan asset returns. Net securities gains of $4 million included several items, the largest of which was a $3 million gain from the sale of put rights obtained in a nonaccrual loan workout several years ago. Certain categories of noninterest income are highlighted in the table below.

(in millions)	3rd Qtr ’07			2nd Qtr ’07		3rd Qtr ’06
Net income (loss) from principal investing and warrants	$	11		$	6	$	—
Net securities gains		4			—		—
Net gain (loss) on sales of businesses		—			2		(7	)
Other noninterest income
Deferred compensation asset returns*		(2	)		6		1

* Compensation deferred by Comerica officers is invested in stocks and bonds to reflect the investment selections of the officers. Income (loss) earned on these assets is reported in noninterest income and the offsetting increase (decrease) in the liability is reported in salaries expense.

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COMERICA REPORTS THIRD QUARTER 2007 EARNINGS — 4

Noninterest Expenses

Noninterest expenses were $423 million for the third quarter 2007, compared to $411 million for the second quarter 2007 and $399 million for the third quarter 2006. The $12 million increase in noninterest expenses in the third quarter 2007, compared to the second quarter 2007, reflected a $15 million change in litigation and operational losses and a $3 million increase in costs related to other real estate, partially offset by decreases in incentives ($5 million) and deferred compensation plan costs ($8 million) (both contributing to the $8 million decrease in salaries in the third quarter 2007). Litigation and operational losses reflected a litigation-related insurance settlement of $8 million in the second quarter 2007. In addition, noninterest expenses included approximately $2 million of costs related to the previously announced relocation of Comerica’s headquarters to Dallas, Texas, in both the third and second quarters of 2007, reflected in salaries and other noninterest expenses.

Certain categories of noninterest expenses are highlighted in the table below.

(in millions)	3rd Qtr ’07			2nd Qtr ’07			3rd Qtr ’06
Salaries
Regular salaries	$	162		$	156		$	156
Severance		—			1			1
Incentives		35			40			31
Deferred compensation plan costs		(2	)		6			1
Share-based compensation		12			12			13
Total salaries		207			215			202
Employee benefits		49			50			48
Litigation and operational losses		6			(9	)		3
Provision for credit losses on lending-related commitments		—			(2	)		(5	)

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COMERICA REPORTS THIRD QUARTER 2007 EARNINGS — 5

Credit Quality

“In light of the increased stress on our commercial real estate portfolios, particularly in Michigan and California, we have taken additional reserves and realigned internal resources to continue our active management of these credits,” said Babb.

• The provision for loan losses reflected ongoing challenges to commercial real estate located in Michigan (Midwest market) and California

• Gross charge-offs increased $4 million and recoveries declined $6 million from second quarter 2007 levels

• Nonperforming assets were 59 basis points of total loans and foreclosed property for the third quarter 2007, and below historical averages. During the third quarter 2007, $94 million of loan relationships greater than $2 million were transferred to nonaccrual status, a decrease of $13 million from the second quarter 2007. All of the transfers of loan relationships greater than $2 million to nonaccrual in the third quarter 2007 were from the Midwest market and $77 million were in the real estate industry

(dollar amounts in millions)	3rd Qtr ’07			2nd Qtr ’07			3rd Qtr ’06
Net loan charge-offs	$	40		$	30		$	3
Net lending-related commitment charge-offs		—			—			5
Total net credit-related charge-offs		40			30			8
Net loan charge-offs/Average total loans		0.32	%		0.24	%		0.02	%
Net credit-related charge-offs/Average total loans		0.32			0.24			0.06
Provision for loan losses	$	45		$	36		$	15
Provision for credit losses on lending-related commitments		—			(2	)		(5	)
Total provision for credit losses		45			34			10
Nonperforming assets (NPAs)		291			259			197
NPAs/Total loans and foreclosed property		0.59	%		0.53	%		0.42	%
Allowance for loan losses	$	512		$	507		$	493
Allowance for credit losses on lending-related commitments*		19			19			31
Total allowance for credit losses		531			526			524
Allowance for loan losses/Total loans		1.03	%		1.04	%		1.06	%
Allowance for loan losses/NPAs		176			195			251

* Included in “Accrued expenses and other liabilities” on the consolidated balance sheets.

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COMERICA REPORTS THIRD QUARTER 2007 EARNINGS — 6

Balance Sheet and Capital Management

Total assets and common shareholders’ equity were $59.8 billion and $5.1 billion, respectively, at September 30, 2007, compared to $58.6 billion and $5.0 billion, respectively, at June 30, 2007. There were approximately 151 million shares outstanding at September 30, 2007, compared to 153 million shares outstanding at June 30, 2007. Open market share repurchases for the current and prior quarter are shown in the following table:

	3rd Qtr ’07				2nd Qtr ’07
	Number				Number
(in millions)	of Shares		Amount		of Shares		Amount
Open market share repurchases		2.0	$	109		3.5	$	217

Comerica’s third quarter 2007 estimated Tier 1 common, Tier 1 and total risk-based capital ratios were 7.00 percent, 7.67 percent and 11.43 percent, respectively.

Full-Year 2007 Outlook Compared to Full Year 2006 for Continuing Operations

• Mid to high single-digit average loan growth, excluding Financial Services Division loans, with flat growth in the Midwest market, and low double-digit growth in the Western and Texas markets

• Average earning asset growth slightly less than average loan growth

• Average Financial Services Division noninterest-bearing deposits of about $2.8 billion, reflecting expected average deposits of about $1.8 billion in the fourth quarter 2007. Financial Services Division loans will fluctuate in tandem with the level of noninterest-bearing deposits

• Average full year net interest margin in the high 3.60 percent range, reflecting a net interest margin in the low 3.50 percent range for the fourth quarter 2007

• Average net credit-related charge-offs of about 25 basis points of average loans, with a provision for credit losses modestly exceeding net charge-offs. Fourth quarter 2007 net credit-related charge-offs consistent with third quarter 2007

• High single-digit growth in noninterest income, from a 2006 adjusted base of $820 million which excludes the Financial Services Division-related lawsuit settlement and the loss on sale of the Mexican bank charter

• Flat noninterest expenses, excluding the provision for credit losses on lending-related commitments, from a 2006 adjusted base of $1,669 million

• Effective tax rate of about 32 percent

• Active capital management within targeted capital ratios (Tier 1 common of 6.50 percent to 7.50 percent and Tier 1 of 7.25 percent to 8.25 percent). Total open market share repurchases in 2007 expected to be about ten million shares

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COMERICA REPORTS THIRD QUARTER 2007 EARNINGS — 7

Business Segments

Comerica’s continuing operations are strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. The Finance Division also is included as a segment. The financial results below are based on the internal business unit structure of the Corporation and methodologies in effect at September 30, 2007 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses third quarter 2007 results compared to second quarter 2007.

The following table presents net income (loss) by business segment.

(dollar amounts in millions)	3rd Qtr ’07					2nd Qtr ’07				3rd Qtr ’06
Business Bank	$	134		72	%	$	136	73	%	$	147		73	%
Retail Bank		32		17			35	19			40		19
Wealth & Institutional Management		20		11			16	8			16		8
		186		100	%		187	100	%		203		100	%
Finance		2					—				(5	)
Other*		(7	)				9				2
Total	$	181				$	196			$	200

* Includes discontinued operations and items not directly associated with the three major business segments or the Finance Division.

Business Bank

(dollar amounts in millions)	3rd Qtr ’07			2nd Qtr ’07			3rd Qtr ’06
Net interest income (FTE)	$	332		$	338		$	331
Provision for loan losses		43			32			6
Noninterest income		82			68			56
Noninterest expenses		177			176			171
Net income		134			136			147
Net credit-related charge-offs		30			24			2
Selected average balances:
Assets		40,796			40,848			39,690
Loans		39,746			39,824			38,473
FSD loans		1,191			1,580			2,093
Deposits		15,948			16,432			17,184
FSD deposits		3,789			4,505			5,543
Net interest margin		3.31	%		3.39	%		3.42	%

• Average loans, excluding the Financial Services Division, increased $311 million, or three percent on an annualized basis. Growth in Middle Market, Global Corporate, Commercial Real Estate and Energy was partially offset by a seasonal reduction in National Dealer Services

• Average deposits increased $232 million, excluding the $716 million decline in the Financial Services Division. Deposit growth in Global Corporate, Commercial Real Estate and Technology and Life Sciences was partially offset by a decrease in Middle Market

• The net interest margin of 3.31 percent decreased eight basis points, primarily due to narrowing loan spreads

• The provision for loan losses increased $11 million, primarily due to an increase in credit risk in the Commercial Real Estate line of business

• Noninterest income increased $14 million, reflecting positive trends in commercial lending fees, letter of credit fees, foreign exchange income and investment banking fees, as well as warrant fair value adjustments and securities gains in the third quarter

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COMERICA REPORTS THIRD QUARTER 2007 EARNINGS — 8

Retail Bank

(dollar amounts in millions)	3rd Qtr ’07			2nd Qtr ’07			3rd Qtr ’06
Net interest income (FTE)	$	159		$	160		$	161
Provision for loan losses		7			4			4
Noninterest income		56			57			53
Noninterest expenses		160			160			151
Net income		32			35			40
Net credit-related charge-offs		9			6			6
Selected average balances:
Assets		6,854			6,828			6,766
Loans		6,111			6,100			6,067
Deposits		17,144			17,191			16,751
Net interest margin		3.68	%		3.73	%		3.81	%

• Average loans increased $11 million, with an increase in the Texas market partially offset by a decrease in SBA loans

• Average deposits decreased $47 million, with declines in the Midwest market, partially offset by increases in the Texas and Western markets

• The net interest margin of 3.68 percent decreased five basis points, primarily due to a decline in loan spreads and customer movement toward higher cost deposits

• The provision for loan losses increased $3 million, primarily due to a decline in credit quality in Personal Banking

• One new banking center was opened in the third quarter

Wealth and Institutional Management

(dollar amounts in millions)	3rd Qtr ’07			2nd Qtr ’07			3rd Qtr ’06
Net interest income (FTE)	$	36		$	36		$	37
Provision for loan losses		(5	)		2			—
Noninterest income		70			70			63
Noninterest expenses		81			79			76
Net income		20			16			16
Net credit-related charge-offs		1			—			—
Selected average balances:
Assets		4,152			4,009			3,683
Loans		3,989			3,860			3,547
Deposits		2,378			2,295			2,317
Net interest margin		3.58	%		3.72	%		4.12	%

• Average loans increased $129 million, or 13 percent on an annualized basis

• Average deposits increased $83 million, primarily due to an increase in time and money market deposits

• The net interest margin of 3.58 percent declined 14 basis points, primarily due to lower loan spreads and customer movement towards higher cost deposits

• The provision for loan losses decreased $7 million due to an improvement from one large customer in the Midwest market

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COMERICA REPORTS THIRD QUARTER 2007 EARNINGS — 9

Geographic Market Segments

Comerica also provides market segment results for four primary geographic markets: Midwest, Western, Texas and Florida. In addition to the four primary geographic markets, Other Markets and International are also reported as market segments. The financial results below are based on methodologies in effect at September 30, 2007 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses third quarter 2007 results compared to second quarter 2007.

The following table presents net income (loss) by market segment.

(dollar amounts in millions)	3rd Qtr ’07					2nd Qtr ’07				��	3rd Qtr ’06
Midwest	$	89		48	%	$	87	47	%		$	102		50	%
Western		50		27			58	31				60		30
Texas		26		14			20	10				22		11
Florida		3		1			2	1				6		3
Other Markets		3		2			5	3				5		2
International		15		8			15	8				8		4
		186		100	%		187	100	%			203		100	%
Finance & Other*		(5	)				9					(3	)
Total	$	181				$	196				$	200

* Includes discontinued operations and items not directly associated with the geographic markets. 

Midwest

(dollar amounts in millions)	3rd Qtr ’07			2nd Qtr ’07			3rd Qtr ’06
Net interest income (FTE)	$	241		$	248		$	251
Provision for loan losses		24			34			24
Noninterest income		124			122			117
Noninterest expenses		220			217			206
Net income		89			87			102
Net credit-related charge-offs		30			29			5
Selected average balances:
Assets		22,792			22,875			22,922
Loans		21,816			21,946			21,842
Deposits		16,608			16,477			16,716
Net interest margin		4.38	%		4.52	%		4.56	%

• Average loans declined $130 million, primarily due to a decline in Middle Market and a seasonal decline in National Dealer Services

• Average deposits increased $131 million, primarily in the Commercial Real Estate, Global Corporate and Private Banking lines of business, partially offset by a decline in Personal Banking

• The net interest margin of 4.38 percent declined 14 basis points, primarily due to a decline in loan spreads and customer movement toward higher cost deposits

• The provision for loan losses decreased $10 million, as improvements in credit quality in Middle Market Banking and one large customer in Private Banking more than offset a decline in credit quality in Commercial Real Estate

• Noninterest income increased $2 million, primarily due to securities gains

• Noninterest expenses increased $3 million, partially due to increases in litigation and operational losses and an increase in the provision for credit losses on lending-related commitments from a negative provision last quarter

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COMERICA REPORTS THIRD QUARTER 2007 EARNINGS — 10

Western Market

(dollar amounts in millions)	3rd Qtr ’07			2nd Qtr ’07			3rd Qtr ’06
Net interest income (FTE)	$	177		$	179		$	176
Provision for loan losses		23			5			(4	)
Noninterest income		36			32			23
Noninterest expenses		110			113			108
Net income		50			58			60
Net credit-related charge-offs		7			4			—
Selected average balances:
Assets		17,095			17,257			16,430
Loans		16,543			16,715			15,887
FSD loans		1,191			1,580			2,093
Deposits		13,009			13,595			13,975
FSD deposits		3,607			4,310			5,408
Net interest margin		4.24	%		4.29	%		4.39	%

• Excluding the Financial Services Division, average loans increased $217 million, or six percent on an annualized basis, primarily due to growth in the Middle Market, Private Banking, Commercial Real Estate and Global Corporate business lines, partially offset by a seasonal decline in National Dealer Services

• Excluding the Financial Services Division, average deposits increased $117 million, primarily due to growth in the Entertainment Lending, Small Business and Private Banking business lines

• The net interest margin declined five basis points due to a decline in loan spreads. The impact of a decline in noninterest-bearing deposits in the Financial Services Division was essentially offset by a decline in Financial Services Division loans (primarily low-rate)

• The provision for loan losses increased $18 million, primarily due to a decline in credit quality in the Commercial Real Estate business line

• Noninterest income increased $4 million, primarily due to a warrant fair value adjustment in the third quarter

Texas Market

(dollar amounts in millions)	3rd Qtr ’07			2nd Qtr ’07			3rd Qtr ’06
Net interest income (FTE)	$	71		$	69		$	67
Provision for loan losses		(2	)		3			(1	)
Noninterest income		24			20			19
Noninterest expenses		58			56			54
Net income		26			20			22
Total net credit-related charge-offs		1			1			3
Selected average balances:
Assets		7,172			6,844			6,388
Loans		6,902			6,570			6,121
Deposits		3,920			3,836			3,672
Net interest margin		4.08	%		4.22	%		4.30	%

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COMERICA REPORTS THIRD QUARTER 2007 EARNINGS — 11

• Average loans increased $332 million, or 20 percent on an annualized basis, primarily due to strong growth in Energy, Middle Market, Global Corporate, Technology and Life Sciences and Small Business

• Average deposits increased $84 million, primarily due to growth in Technology and Life Sciences, Small Business and Private Banking

• The net interest margin of 4.08 percent decreased 14 basis points, primarily due to a decline in loan spreads and customer movement toward higher cost deposits

• The provision for loan losses decreased $5 million, primarily due to an improvement in Technology and Life Sciences and Commercial Real Estate

• Noninterest income increased $4 million, primarily due to an increase in commercial loan fees

• One new banking center was opened in the third quarter

Florida Market

(dollar amounts in millions)	3rd Qtr ’07			2nd Qtr ’07			3rd Qtr ’06
Net interest income (FTE)	$	13		$	11		$	11
Provision for loan losses		3			2			(3	)
Noninterest income		4			3			4
Noninterest expenses		10			9			9
Net income		3			2			6
Net credit-related charge-offs		1			1			—
Selected average balances:
Assets		1,706			1,666			1,549
Loans		1,692			1,649			1,532
Deposits		271			290			313
Net interest margin		2.97	%		2.68	%		2.81	%

• Average loans increased $43 million, or 10 percent on an annualized basis

• Average deposits decreased $19 million, primarily due to a decrease in noninterest-bearing deposits

Conference Call and Webcast

Comerica will host a conference call to review third quarter 2007 financial results at 8 a.m. EDT (7 a.m. CDT) Wednesday, October 17, 2007. Interested parties may access the conference call by calling (800) 309-2262 or (706) 679-5261 (event ID No. 17469032). The call and supplemental financial information can also be accessed on the Internet at www.comerica.com. A replay will be available approximately two hours following the conference call until October 31, 2007. The conference call replay can be accessed by calling (800) 642-1687 or (706) 645-9291 (event ID No. 17469032). A replay of the Webcast can also be accessed via Comerica’s “Investor Relations” page at www.comerica.com.

Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people to be successful. Comerica Bank locations can be found in Michigan, California, Texas, Florida and Arizona, with select businesses operating in several other states, Canada and Mexico.

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COMERICA REPORTS THIRD QUARTER 2007 EARNINGS — 12

Forward-looking Statements

Any statements in this news release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “feels,” “expects,” “estimates,” “seeks,” “strives,” “plans,” “intends,” “outlook,” “forecast,” “position,” “target,” “mission,” “assume,” “achievable,” “potential,” “strategy,” “goal,” “aspiration,” “outcome,” “continue,” “remain,” “maintain,” “trend,” “objective” and variations of such words and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions, as they relate to Comerica or its management, are intended to identify forward-looking statements. These forward-looking statements are predicated on the beliefs and assumptions of Comerica’s management based on information known to Comerica’s management as of the date of this news release and do not purport to speak as of any other date. Forward-looking statements may include descriptions of plans and objectives of Comerica’s management for future or past operations, products or services, and forecasts of Comerica’s revenue, earnings or other measures of economic performance, including statements of profitability, business segments and subsidiaries, estimates of credit trends and global stability. Such statements reflect the view of Comerica’s management as of this date with respect to future events and are subject to risks and uncertainties. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, Comerica’s actual results could differ materially from those discussed. Factors that could cause or contribute to such differences are changes in the pace of an economic recovery and related changes in employment levels, changes related to the headquarters relocation or to its underlying assumptions, the effects of war and other armed conflicts or acts of terrorism, the effects of natural disasters including, but not limited to, hurricanes, tornadoes, earthquakes and floods, the disruption of private or public utilities, the implementation of Comerica’s strategies and business models, management’s ability to maintain and expand customer relationships, management’s ability to retain key officers and employees, changes in the accounting treatment of any particular item, the impact of regulatory examinations, declines or other changes in the businesses or industries in which Comerica has a concentration of loans, including, but not limited to, automotive production, the anticipated performance of any new banking centers, the entry of new competitors in Comerica’s markets, changes in the level of fee income, changes in applicable laws and regulations, including those concerning taxes, banking, securities and insurance, changes in trade, monetary and fiscal policies, including the interest rate policies of the Board of Governors of the Federal Reserve System, fluctuations in inflation or interest rates, changes in general economic conditions and related credit and market conditions and adverse conditions in the stock market. Comerica cautions that the foregoing list of factors is not exclusive. Forward-looking statements speak only as of the date they are made. Comerica does not undertake to update forward-looking statements to reflect facts, circumstances, assumptions or events that occur after the date the forward-looking statements are made. For any forward-looking statements made in this news release or in any documents, Comerica claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Media Contact:	Investor Contacts:
Wayne J. Mielke	Darlene P. Persons
(214) 462-4463	(313) 222-2840
	Paul Jaremski
	(214) 969-6476

CONSOLIDATED FINANCIAL HIGHLIGHTS
Comerica Incorporated and Subsidiaries

	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,
(in millions, except per share data)	2007			2007			2006			2007			2006
PER SHARE AND COMMON STOCK DATA
Diluted income from continuing operations	$	1.17		$	1.25		$	1.20		$	3.61		$	3.65
Diluted net income		1.18			1.25			1.23			3.63			3.64
Cash dividends declared		0.64			0.64			0.59			1.92			1.77
Common shareholders’ equity (at period end)		33.62			32.80			32.79
Average diluted shares (in thousands)		153,096			156,632			162,438			156,202			163,299
KEY RATIOS
Return on average common shareholders’ equity from continuing operations		14.24	%		15.41	%		15.00	%		14.83	%		15.48	%
Return on average common shareholders’ equity		14.38			15.41			15.38			14.89			15.40
Return on average assets from continuing operations		1.22			1.35			1.37			1.30			1.42
Return on average assets		1.23			1.35			1.41			1.30			1.41
Average common shareholders’ equity as a percentage of average assets		8.58			8.77			9.16			8.76			9.14
Tier 1 common capital ratio *		7.00			7.18			7.48
Tier 1 risk-based capital ratio *		7.67			7.87			8.04
Total risk-based capital ratio *		11.43			11.71			11.25
Leverage ratio *		9.61			9.68			9.68
AVERAGE BALANCES
Commercial loans	$	28,052		$	28,324		$	27,534		$	28,046		$	27,251
Real estate construction loans		4,607			4,501			4,064			4,454			3,805
Commercial mortgage loans		9,829			9,634			9,362			9,713			9,198
Residential mortgage loans		1,865			1,791			1,602			1,788			1,544
Consumer loans		2,320			2,331			2,474			2,351			2,555
Lease financing		1,319			1,287			1,323			1,293			1,307
International loans		1,882			1,925			1,766			1,880			1,815
Total loans		49,874			49,793			48,125			49,525			47,475
Earning assets		54,641			54,304			52,500			54,036			51,955
Total assets		58,546			58,118			56,790			57,923			56,231
Interest-bearing deposits		30,276			30,049			29,133			30,247			28,395
Total interest-bearing liabilities		41,406			40,157			37,555			40,031			36,551
Noninterest-bearing deposits		10,840			11,633			12,723			11,540			13,299
Common shareholders’ equity		5,024			5,097			5,203			5,074			5,141
NET INTEREST INCOME
Net interest income (fully taxable equivalent basis)	$	504		$	510		$	502		$	1,517		$	1,483
Fully taxable equivalent adjustment		1			1			—			3			2
Net interest margin		3.66	%		3.76	%		3.79	%		3.75	%		3.80	%
CREDIT QUALITY
Nonaccrual loans	$	272		$	244		$	174
Foreclosed property		19			15			23
Total nonperforming assets		291			259			197
Loans past due 90 days or more and still accruing		63			29			18
Gross loan charge-offs		47			43			17			124			67
Loan recoveries		7			13			14			38			29
Net loan charge-offs		40			30			3			86			38
Lending-related commitment charge-offs		—			—			5			3			11
Total net credit-related charge-offs		40			30			8			89			49
Allowance for loan losses		512			507			493
Allowance for credit losses on lending-related commitments		19			19			31
Total allowance for credit losses		531			526			524
Allowance for loan losses as a percentage of total loans		1.03	%		1.04	%		1.06	%
Net loan charge-offs as a percentage of average total loans		0.32			0.24			0.02			0.23	%		0.11	%
Net credit-related charge-offs as a percentage of average total loans		0.32			0.24			0.06			0.24			0.13
Nonperforming assets as a percentage of total loans and foreclosed property		0.59			0.53			0.42
Allowance for loan losses as a percentage of total nonperforming assets		176			195			251

* September 30, 2007 ratios are estimated

-13-

CONSOLIDATED BALANCE SHEETS
Comerica Incorporated and Subsidiaries

	September 30,			June 30,			December 31,			September 30,
(in millions, except share data)	2007			2007			2006			2006
ASSETS
Cash and due from banks	$	1,271		$	1,372		$	1,434		$	1,456
Federal funds sold and securities purchased under agreements to resell		129			1,217			2,632			3,473
Other short-term investments		293			251			327			259
Investment securities available-for-sale		4,942			4,368			3,662			3,931
Commercial loans		27,392			27,146			26,265			25,755
Real estate construction loans		4,759			4,513			4,203			4,122
Commercial mortgage loans		9,994			9,728			9,659			9,485
Residential mortgage loans		1,892			1,839			1,677			1,622
Consumer loans		2,397			2,321			2,423			2,498
Lease financing		1,319			1,314			1,353			1,321
International loans		1,843			1,904			1,851			1,712
Total loans		49,596			48,765			47,431			46,515
Less allowance for loan losses		(512	)		(507	)		(493	)		(493	)
Net loans		49,084			48,258			46,938			46,022
Premises and equipment		635			616			568			540
Customers’ liability on acceptances outstanding		39			40			56			64
Accrued income and other assets		3,415			2,448			2,384			2,729
Total assets	$	59,808		$	58,570		$	58,001		$	58,474
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing deposits	$	11,076		$	12,763		$	13,901		$	15,132
Money market and NOW deposits		14,814			15,212			15,250			14,711
Savings deposits		1,402			1,397			1,365			1,378
Customer certificates of deposit		8,010			7,567			7,223			7,057
Institutional certificates of deposit		5,049			5,479			5,783			5,783
Foreign office time deposits		1,355			789			1,405			869
Total interest-bearing deposits		30,630			30,444			31,026			29,798
Total deposits		41,706			43,207			44,927			44,930
Short-term borrowings		2,813			297			635			225
Acceptances outstanding		39			40			56			64
Accrued expenses and other liabilities		1,267			1,260			1,281			1,292
Medium- and long-term debt		8,906			8,748			5,949			6,755
Total liabilities		54,731			53,552			52,848			53,266
Common stock — $5 par value:
Authorized — 325,000,000 shares
Issued — 178,735,252 shares at 9/30/07, 6/30/07, 12/31/06 and 9/30/06		894			894			894			894
Capital surplus		551			539			520			507
Accumulated other comprehensive loss		(238	)		(308	)		(324	)		(128	)
Retained earnings		5,484			5,400			5,282			5,079
Less cost of common stock in treasury — 27,725,572 shares at 9/30/07, 25,725,671 shares at 6/30/07, 21,161,161 shares at 12/31/06 and 19,892,137 shares at 9/30/06		(1,614	)		(1,507	)		(1,219	)		(1,144	)
Total shareholders’ equity		5,077			5,018			5,153			5,208
Total liabilities and shareholders’ equity	$	59,808		$	58,570		$	58,001		$	58,474

-14-

CONSOLIDATED STATEMENTS OF INCOME
Comerica Incorporated and Subsidiaries

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(in millions, except per share data)	2007		2006			2007			2006
INTEREST INCOME
Interest and fees on loans	$	895	$	843		$	2,628		$	2,358
Interest on investment securities		52		43			140			132
Interest on short-term investments		5		7			18			20
Total interest income		952		893			2,786			2,510
INTEREST EXPENSE
Interest on deposits		294		272			864			707
Interest on short-term borrowings		29		28			75			115
Interest on medium- and long-term debt		126		91			333			207
Total interest expense		449		391			1,272			1,029
Net interest income		503		502			1,514			1,481
Provision for loan losses		45		15			104			15
Net interest income after provision for loan losses		458		487			1,410			1,466
NONINTEREST INCOME
Service charges on deposit accounts		55		56			164			164
Fiduciary income		49		45			147			133
Commercial lending fees		19		16			52			46
Letter of credit fees		16		17			47			48
Foreign exchange income		11		9			30			28
Brokerage fees		11		10			32			30
Card fees		14		11			40			34
Bank-owned life insurance		8		8			27			31
Net income from principal investing and warrants		11		—			13			7
Net securities gains (losses)		4		—			4			(1	)
Net gain (loss) on sales of businesses		—		(7	)		3			(12	)
Other noninterest income		32		30			99			85
Total noninterest income		230		195			658			593
NONINTEREST EXPENSES
Salaries		207		202			628			592
Employee benefits		49		48			145			142
Total salaries and employee benefits		256		250			773			734
Net occupancy expense		34		31			102			91
Equipment expense		15		13			45			41
Outside processing fee expense		23		21			67			64
Software expense		16		13			46			41
Customer services		11		11			36			33
Litigation and operational losses		6		3			—			7
Provision for credit losses on lending-related commitments		—		(5	)		(4	)		9
Other noninterest expenses		62		62			176			197
Total noninterest expenses		423		399			1,241			1,217
Income from continuing operations before income taxes		265		283			827			842
Provision for income taxes		85		88			262			245
Income from continuing operations		180		195			565			597
Income (loss) from discontinued operations, net of tax		1		5			2			(3	)
NET INCOME	$	181	$	200		$	567		$	594
Basic earnings per common share:
Income from continuing operations	$	1.18	$	1.22		$	3.67		$	3.70
Net income		1.20		1.25			3.69			3.69
Diluted earnings per common share:
Income from continuing operations		1.17		1.20			3.61			3.65
Net income		1.18		1.23			3.63			3.64
Cash dividends declared on common stock		97		94			296			286
Dividends per common share		0.64		0.59			1.92			1.77

-15-

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
Comerica Incorporated and Subsidiaries

	Third		Second			First			Fourth			Third			Third Quarter 2007 Compared To:
	Quarter		Quarter			Quarter			Quarter			Quarter			Second Quarter 2007						Third Quarter 2006
(in millions, except per share data)	2007		2007			2007			2006			2006			Amount			Percent			Amount			Percent
INTEREST INCOME
Interest and fees on loans	$	895	$	882		$	851		$	858		$	843		$	13			1.6	%	$	52			6.2	%
Interest on investment securities		52		46			42			42			43			6			11.5			9			21.4
Interest on short-term investments		5		5			8			12			7			—			(14.3	)		(2	)		(32.2	)
Total interest income		952		933			901			912			893			19			2.0			59			6.6
INTEREST EXPENSE
Interest on deposits		294		284			286			298			272			10			3.2			22			8.1
Interest on short-term borrowings		29		24			22			15			28			5			23.2			1			4.3
Interest on medium- and long-term debt		126		116			91			97			91			10			7.7			35			37.6
Total interest expense		449		424			399			410			391			25			5.5			58			14.7
Net interest income		503		509			502			502			502			(6	)		(1.0	)		1			0.4
Provision for loan losses		45		36			23			22			15			9			25.0			30			200.0
Net interest income after provision for loan losses		458		473			479			480			487			(15	)		(3.0	)		(29	)		(5.8	)
NONINTEREST INCOME
Service charges on deposit accounts		55		55			54			54			56			—			0.6			(1	)		(0.9	)
Fiduciary income		49		49			49			47			45			—			(0.2	)		4			10.2
Commercial lending fees		19		17			16			19			16			2			11.6			3			22.4
Letter of credit fees		16		15			16			16			17			1			2.3			(1	)		(6.2	)
Foreign exchange income		11		10			9			10			9			1			4.5			2			15.7
Brokerage fees		11		10			11			10			10			1			13.5			1			17.2
Card fees		14		14			12			12			11			—			2.1			3			18.6
Bank-owned life insurance		8		9			10			9			8			(1	)		(7.8	)		—			2.1
Net income (loss) from principal investing and warrants		11		6			(4	)		3			—			5			N/M			11			N/M
Net securities gains		4		—			—			1			—			4			N/M			4			N/M
Net gain (loss) on sales of businesses		—		2			1			—			(7	)		(2	)		N/M			7			N/M
Income from lawsuit settlement		—		—			—			47			—			—			N/M			—			N/M
Other noninterest income		32		38			29			34			30			(6	)		(15.0	)		2			7.4
Total noninterest income		230		225			203			262			195			5			2.2			35			17.8
NONINTEREST EXPENSES
Salaries		207		215			206			231			202			(8	)		(4.0	)		5			2.2
Employee benefits		49		50			46			42			48			(1	)		(0.7	)		1			3.4
Total salaries and employee benefits		256		265			252			273			250			(9	)		(3.3	)		6			2.4
Net occupancy expense		34		33			35			34			31			1			5.5			3			8.7
Equipment expense		15		15			15			14			13			—			0.8			2			14.8
Outside processing fee expense		23		24			20			21			21			(1	)		(2.4	)		2			10.8
Software expense		16		15			15			15			13			1			11.6			3			17.4
Customer services		11		11			14			14			11			—			(5.4	)		—			(5.1	)
Litigation and operational losses (recoveries)		6		(9	)		3			4			3			15			N/M			3			140.5
Provision for credit losses on lending-related commitments		—		(2	)		(2	)		(4	)		(5	)		2			N/M			5			N/M
Other noninterest expenses		62		59			55			86			62			3			3.4			—			2.8
Total noninterest expenses		423		411			407			457			399			12			3.1			24			6.4
Income from continuing operations before income taxes		265		287			275			285			283			(22	)		(7.8	)		(18	)		(6.7	)
Provision for income taxes		85		91			86			100			88			(6	)		(5.3	)		(3	)		(3.0	)
Income from continuing operations		180		196			189			185			195			(16	)		(8.9	)		(15	)		(8.3	)
Income from discontinued operations, net of tax		1		—			1			114			5			1			N/M			(4	)		N/M
NET INCOME	$	181	$	196		$	190		$	299		$	200		$	(15	)		(8.0)	%	$	(19	)		(9.7)	%
Basic earnings per common share:
Income from continuing operations	$	1.18	$	1.28		$	1.21		$	1.17		$	1.22		$	(0.10	)		(7.8)	%	$	(0.04	)		(3.3)	%
Net income		1.20		1.28			1.21			1.89			1.25			(0.08	)		(6.3	)		(0.05	)		(4.0	)
Diluted earnings per common share:
Income from continuing operations		1.17		1.25			1.19			1.16			1.20			(0.08	)		(6.4	)		(0.03	)		(2.5	)
Net income		1.18		1.25			1.19			1.87			1.23			(0.07	)		(5.6	)		(0.05	)		(4.1	)
Cash dividends declared on common stock		97		98			101			94			94			(1	)		(1.7	)		3			2.7
Dividends per common share		0.64		0.64			0.64			0.59			0.59			—			—			0.05			8.5

N/M — Not meaningful

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ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES
Comerica Incorporated and Subsidiaries

	2007									2006
(in millions)	3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr
Balance at beginning of period	$	507		$	500		$	493		$	493		$	481
Loan charge-offs:
Commercial		30			19			13			7			9
Real estate construction:
Commercial Real Estate business line		6			6			1			—			—
Other business lines		2			2			—			—			—
Total real estate construction		8			8			1			—			—
Commercial mortgage:
Commercial Real Estate business line		2			3			3			3			1
Other business lines		4			10			14			4			4
Total commercial mortgage		6			13			17			7			5
Residential mortgage		—			—			—			—			—
Consumer		3			3			3			13			3
Lease financing		—			—			—			3			—
International		—			—			—			1			—
Total loan charge-offs		47			43			34			31			17
Recoveries on loans previously charged-off:
Commercial		5			5			10			5			13
Real estate construction		—			—			—			—			—
Commercial mortgage		1			2			—			1			1
Residential mortgage		—			—			—			—			—
Consumer		1			1			1			1			—
Lease financing		—			—			4			—			—
International		—			5			3			2			—
Total recoveries		7			13			18			9			14
Net loan charge-offs		40			30			16			22			3
Provision for loan losses		45			36			23			22			15
Foreign currency translation adjustment		—			1			—			—			—
Balance at end of period	$	512		$	507		$	500		$	493		$	493
Allowance for loan losses as a percentage of total loans		1.03	%		1.04	%		1.04	%		1.04	%		1.06	%
Net loan charge-offs as a percentage of average total loans		0.32			0.24			0.13			0.18			0.02
Net credit-related charge-offs as a percentage of average total loans		0.32			0.24			0.16			0.19			0.06

ANALYSIS OF THE ALLOWANCE FOR CREDIT LOSSES ON LENDING-RELATED COMMITMENTS
Comerica Incorporated and Subsidiaries

	2007								2006
(in millions)	3rd Qtr		2nd Qtr			1st Qtr			4th Qtr			3rd Qtr
Balance at beginning of period	$	19	$	21		$	26		$	31		$	41
Less: Charge-offs on lending-related commitments (1)		—		—			3			1			5
Add: Provision for credit losses on lending-related commitments		—		(2	)		(2	)		(4	)		(5	)
Balance at end of period	$	19	$	19		$	21		$	26		$	31
Unfunded lending-related commitments sold	$	—	$	—		$	60		$	20		$	28

(1) Charge-offs result from the sale of unfunded lending-related commitments.

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NONPERFORMING ASSETS
Comerica Incorporated and Subsidiaries

	2007									2006
(in millions)	3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr
SUMMARY OF NONPERFORMING ASSETS AND PAST DUE LOANS
Nonaccrual loans:
Commercial	$	64		$	88		$	73		$	97		$	83
Real estate construction:
Commercial Real Estate business line		55			37			21			18			4
Other business lines		4			7			4			2			—
Total real estate construction		59			44			25			20			4
Commercial mortgage:
Commercial Real Estate business line		63			20			17			18			10
Other business lines		77			84			84			54			46
Total commercial mortgage		140			104			101			72			56
Residential mortgage		1			1			1			1			1
Consumer		4			3			4			4			5
Lease financing		—			—			4			8			12
International		4			4			10			12			13
Total nonaccrual loans		272			244			218			214			174
Reduced-rate loans		—			—			—			—			—
Total nonperforming loans		272			244			218			214			174
Foreclosed property		19			15			15			18			23
Total nonperforming assets	$	291		$	259		$	233		$	232		$	197
Nonperforming loans as a percentage of total loans		0.55	%		0.50	%		0.45	%		0.45	%		0.37	%
Nonperforming assets as a percentage of total loans and foreclosed property		0.59			0.53			0.49			0.49			0.42
Allowance for loan losses as a percentage of total nonperforming assets		176			195			214			213			251
Loans past due 90 days or more and still accruing	$	63		$	29		$	15		$	14		$	18
ANALYSIS OF NONACCRUAL LOANS
Nonaccrual loans at beginning of period	$	244		$	218		$	214		$	174		$	157
Loans transferred to nonaccrual (1)		94			107			69			66			39
Nonaccrual business loan gross charge-offs (2)		(44	)		(40	)		(31	)		(16	)		(14	)
Loans transferred to accrual status (1)		—			(8	)		—			—			—
Nonaccrual business loans sold (3)		(11	)		—			(4	)		—			—
Payments/Other (4)		(11	)		(33	)		(30	)		(10	)		(8	)
Nonaccrual loans at end of period	$	272		$	244		$	218		$	214		$	174

(1)	Based on an analysis of nonaccrual loans with book balances greater than $2 million.
(2)	Analysis of gross loan charge-offs:

Nonaccrual business loans	$	44	$	40	$	31	$	16	$	14
Performing watch list loans		—		—		—		2		—
Consumer and residential mortgage loans		3		3		3		13		3
Total gross loan charge-offs	$	47	$	43	$	34	$	31	$	17

(3) Analysis of loans sold:

Nonaccrual business loans	$	11	$	—	$	4	$	—	$	—
Performing watch list loans		—		—		—		25		7
Total loans sold	$	11	$	—	$	4	$	25	$	7

(4) Includes net changes related to nonaccrual loans with balances less than $2 million, other than business loan gross charge-offs and nonaccrual loans sold, and payments on nonaccrual loans with book balances greater than $2 million.

-18-

ANALYSIS OF NET INTEREST INCOME (FTE)

Comerica Incorporated and Subsidiaries

	Nine Months Ended
	September 30, 2007									September 30, 2006
	Average						Average			Average						Average
(dollar amounts in millions)	Balance			Interest			Rate			Balance			Interest			Rate
Commercial loans (1) (2)	$	28,046		$	1,538			7.33	%	$	27,251		$	1,375			6.75	%
Real estate construction loans		4,454			282			8.47			3,805			244			8.57
Commercial mortgage loans		9,713			534			7.35			9,198			496			7.22
Residential mortgage loans		1,788			82			6.12			1,544			69			5.99
Consumer loans		2,351			125			7.12			2,555			135			7.07
Lease financing		1,293			32			3.26			1,307			40			4.04
International loans		1,880			99			7.07			1,815			94			6.93
Business loan swap expense		—			(61	)		—			—			(93	)		—
Total loans (2)		49,525			2,631			7.10			47,475			2,360			6.65
Investment securities available-for-sale		4,080			140			4.47			4,042			132			4.20
Federal funds sold and securities purchased under agreements to resell		189			8			5.36			269			10			5.06
Other short-term investments		242			10			5.73			169			10			7.66
Total earning assets		54,036			2,789			6.89			51,955			2,512			6.44
Cash and due from banks		1,390									1,589
Allowance for loan losses		(513	)								(497	)
Accrued income and other assets		3,010									3,184
Total assets	$	57,923								$	56,231
Money market and NOW deposits (1)	$	14,858			344			3.09		$	15,597			327			2.80
Savings deposits		1,393			9			0.91			1,463			8			0.76
Customer certificates of deposit		7,505			250			4.46			6,275			181			3.86
Institutional certificates of deposit		5,490			224			5.45			4,053			156			5.13
Foreign office time deposits		1,001			37			4.92			1,007			35			4.70
Total interest-bearing deposits		30,247			864			3.82			28,395			707			3.33
Short-term borrowings		1,919			75			5.24			3,193			115			4.84
Medium- and long-term debt		7,865			333			5.65			4,963			207			5.57
Total interest-bearing sources		40,031			1,272			4.25			36,551			1,029			3.76
Noninterest-bearing deposits (1)		11,540									13,299
Accrued expenses and other liabilities		1,278									1,240
Shareholders’ equity		5,074									5,141
Total liabilities and shareholders’ equity		57,923									56,231
Net interest income/rate spread (FTE)				$	1,517			2.64					$	1,483			2.68
FTE adjustment				$	3								$	2
Impact of net noninterest-bearing sources of funds								1.11									1.12
Net interest margin (as a percentage of average earning assets) (FTE) (2)								3.75	%								3.80	%
(1) FSD balances included above:
Loans (primarily low-rate)	$	1,445		$	7			0.63	%	$	2,516		$	10			0.55	%
Interest-bearing deposits		1,230			36			3.95			1,835			53			3.84
Noninterest-bearing deposits		3,097									4,516
(2) Impact of FSD loans (primarily low-rate) on the following:
Commercial loans								(0.36	)%								(0.63	)%
Total loans								(0.20	)								(0.34	)
Net interest margin (FTE) (assuming loans were funded by noninterest-bearing deposits)								(0.09	)								(0.18	)

-19-

ANALYSIS OF NET INTEREST INCOME (FTE)

Comerica Incorporated and Subsidiaries

	Three Months Ended
	September 30, 2007									June 30, 2007									September 30, 2006
	Average						Average			Average						Average			Average						Average
(dollar amounts in millions)	Balance			Interest			Rate			Balance			Interest			Rate			Balance			Interest			Rate
Commercial loans (1) (2)	$	28,052		$	520			7.37	%	$	28,324		$	517			7.31	%	$	27,534		$	498			7.18	%
Real estate construction loans		4,607			97			8.33			4,501			95			8.45			4,064			90			8.79
Commercial mortgage loans		9,829			181			7.30			9,634			178			7.39			9,362			175			7.42
Residential mortgage loans		1,865			29			6.12			1,791			28			6.15			1,602			24			6.08
Consumer loans		2,320			41			7.06			2,331			41			7.15			2,474			45			7.32
Lease financing		1,319			11			3.25			1,287			11			3.33			1,323			13			4.00
International loans		1,882			33			6.98			1,925			34			7.17			1,766			33			7.35
Business loan swap expense		—			(16	)		—			—			(21	)		—			—			(35	)		—
Total loans (2)		49,874			896			7.13			49,793			883			7.11			48,125			843			6.96
Investment securities available-for-sale		4,405			52			4.60			4,085			46			4.46			3,887			43			4.22
Federal funds sold and securities purchased under agreements to resell		99			1			5.25			195			2			5.37			282			4			5.39
Other short-term investments		263			4			5.27			231			3			5.21			206			3			6.23
Total earning assets		54,641			953			6.91			54,304			934			6.89			52,500			893			6.74
Cash and due from banks		1,351									1,341									1,561
Allowance for loan losses		(521	)								(516	)								(495	)
Accrued income and other assets		3,075									2,989									3,224
Total assets	$	58,546								$	58,118								$	56,790
Money market and NOW deposits (1)	$	14,996			119			3.14		$	14,825			114			3.08		$	14,885			116			3.07
Savings deposits		1,380			3			0.97			1,419			3			0.91			1,434			3			0.87
Customer certificates of deposit		7,702			87			4.48			7,463			83			4.46			6,710			70			4.17
Institutional certificates of deposit		5,170			72			5.49			5,484			74			5.43			5,180			72			5.45
Foreign office time deposits		1,028			13			4.96			858			10			4.81			924			11			4.96
Total interest-bearing deposits		30,276			294			3.85			30,049			284			3.80			29,133			272			3.70
Short-term borrowings		2,278			29			5.15			1,816			24			5.30			2,125			28			5.29
Medium- and long-term debt		8,852			126			5.61			8,292			116			5.63			6,297			91			5.73
Total interest-bearing sources		41,406			449			4.29			40,157			424			4.24			37,555			391			4.13
Noninterest-bearing deposits (1)		10,840									11,633									12,723
Accrued expenses and other liabilities		1,276									1,231									1,309
Shareholders’ equity		5,024									5,097									5,203
Total liabilities and shareholders’ equity	$	58,546								$	58,118								$	56,790
Net interest income/rate spread (FTE)				$	504			2.62					$	510			2.65					$	502			2.61
FTE adjustment				$	1								$	1								$	—
Impact of net noninterest-bearing sources of funds								1.04									1.11									1.18
Net interest margin (as a percentage of average earning assets) (FTE) (2)								3.66	%								3.76	%								3.79	%
(1) FSD balances included above:
Loans (primarily low-rate)	$	1,191		$	2			0.71	%	$	1,580		$	2			0.52	%	$	2,093		$	3			0.64	%
Interest-bearing deposits		1,214			12			4.06			1,228			12			3.88			1,465			15			3.95
Noninterest-bearing deposits		2,575									3,277									4,079
(2) Impact of FSD loans (primarily low-rate) on the following:
Commercial loans								(0.30	)%								(0.40	)%								(0.54	)%
Total loans								(0.16	)								(0.21	)								(0.28	)
Net interest margin (FTE) (assuming loans were funded by noninterest-bearing deposits)								(0.07	)								(0.10	)								(0.14	)

-20-

CONSOLIDATED STATISTICAL DATA

Comerica Incorporated and Subsidiaries

	September 30,			June 30,			March 31,			December 31,			September 30,
(in millions, except per share data)	2007			2007			2007			2006			2006
Commercial loans:
Floor plan	$	2,601		$	3,012		$	2,970		$	3,198		$	2,628
Other		24,791			24,134			23,711			23,067			23,127
Total commercial loans		27,392			27,146			26,681			26,265			25,755
Real estate construction loans:
Commercial Real Estate business line		4,007			3,777			3,708			3,449			3,352
Other business lines		752			736			754			754			770
Total real estate construction loans		4,759			4,513			4,462			4,203			4,122
Commercial mortgage loans:
Commercial Real Estate business line		1,467			1,344			1,286			1,534			1,529
Other business lines		8,527			8,384			8,306			8,125			7,956
Total commercial mortgage loans		9,994			9,728			9,592			9,659			9,485
Residential mortgage loans		1,892			1,839			1,741			1,677			1,622
Consumer loans:
Home equity		1,582			1,585			1,570			1,591			1,668
Other consumer		815			736			822			832			830
Total consumer loans		2,397			2,321			2,392			2,423			2,498
Lease financing		1,319			1,314			1,273			1,353			1,321
International loans		1,843			1,904			1,848			1,851			1,712
Total loans	$	49,596		$	48,765		$	47,989		$	47,431		$	46,515
Goodwill	$	150		$	150		$	150		$	150		$	213
Loan servicing rights		13			13			14			14			15
Tier 1 common capital ratio*		7.00	%		7.18	%		7.49	%		7.54	%		7.48	%
Tier 1 risk-based capital ratio*		7.67			7.87			8.19			8.02			8.04
Total risk-based capital ratio *		11.43			11.71			12.15			11.63			11.25
Leverage ratio*		9.61			9.68			10.00			9.76			9.68
Book value per share	$	33.62		$	32.80		$	32.84		$	32.70		$	32.79
Market value per share for the quarter:
High	$	61.34		$	63.89		$	63.39		$	59.72		$	58.95
Low		50.26			58.18			56.77			55.82			51.45
Close		51.28			59.47			59.12			58.68			56.92
Quarterly ratios:
Return on average common shareholders’ equity from continuing operations		14.24	%		15.41	%		14.83	%		14.03	%		15.00	%
Return on average common shareholders’ equity		14.38			15.41			14.86			22.63			15.38
Return on average assets from continuing operations		1.22			1.35			1.33			1.29			1.37
Return on average assets		1.23			1.35			1.33			2.07			1.41
Efficiency ratio		58.00			55.97			57.66			59.81			57.15
Number of banking centers		403			402			402			393			382
Number of employees — full time equivalent
Continuing operations		10,683			10,687			10,661			10,700			10,568
Discontinued operations		—			—			—			—			167

* September 30, 2007 ratios are estimated

-21-

PARENT COMPANY ONLY BALANCE SHEETS
Comerica Incorporated

	September 30,			December 31,			September 30,
(in millions, except share data)	2007			2006			2006
ASSETS
Cash and due from subsidiary bank	$	5		$	122		$	7
Short-term investments with subsidiary bank		222			246			294
Other short-term investments		101			92			88
Investment in subsidiaries, principally banks		5,799			5,586			5,719
Premises and equipment		4			4			4
Other assets		152			152			150
Total assets	$	6,283		$	6,202		$	6,262
LIABILITIES AND SHAREHOLDERS’ EQUITY
Long-term debt	$	956		$	806		$	807
Other liabilities		250			243			247
Total liabilities		1,206			1,049			1,054
Common stock — $5 par value:
Authorized - 325,000,000 shares
Issued — 178,735,252 shares at 9/30/07, 12/31/06 and 9/30/06		894			894			894
Capital surplus		551			520			507
Accumulated other comprehensive loss		(238	)		(324	)		(128	)
Retained earnings		5,484			5,282			5,079
Less cost of common stock in treasury - 27,725,572 shares at 9/30/07, 21,161,161 shares at 12/31/06 and 19,892,137 shares at 9/30/06		(1,614	)		(1,219	)		(1,144	)
Total shareholders’ equity		5,077			5,153			5,208
Total liabilities and shareholders’ equity	$	6,283		$	6,202		$	6,262

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
Comerica Incorporated and Subsidiaries

									Accumulated
									Other									Total
	Common Stock					Capital			Comprehensive			Retained			Treasury			Shareholders’
(in millions, except per share data)	In Shares			Amount		Surplus			Loss			Earnings			Stock			Equity
BALANCE AT JANUARY 1, 2006		162.9		$	894	$	461		$	(170	)	$	4,796		$	(913	)	$	5,068
Net income		—			—		—			—			594			—			594
Other comprehensive income, net of tax		—			—		—			42			—			—			42
Total comprehensive income																			636
Cash dividends declared on common stock ($1.77 per share)		—			—		—			—			(286	)		—			(286	)
Purchase of common stock		(5.2	)		—		—			—			—			(299	)		(299	)
Net issuance of common stock under employee stock plans		1.4			—		(16	)		—			(25	)		85			44
Recognition of share-based compensation expense		—			—		45			—			—			—			45
Employee deferred compensation obligations		(0.3	)		—		17			—			—			(17	)		—
BALANCE AT SEPTEMBER 30, 2006		158.8		$	894	$	507		$	(128	)	$	5,079		$	(1,144	)	$	5,208
BALANCE AT DECEMBER 31, 2006		157.6		$	894	$	520		$	(324	)	$	5,282		$	(1,219	)	$	5,153
FSP13-2 transition adjustment, net of tax		—			—		—			—			(46	)		—			(46	)
FIN 48 transition adjustment, net of tax		—			—		—			—			3			—			3
BALANCE AT JANUARY 1, 2007		157.6			894		520			(324	)		5,239			(1,219	)		5,110
Net income		—			—		—			—			567			—			567
Other comprehensive income, net of tax		—			—		—			86			—			—			86
Total comprehensive income		—			—		—			—			—			—			653
Cash dividends declared on common stock ($1.92 per share)		—			—		—			—			(296	)		—			(296	)
Purchase of common stock		(9.0	)		—		—			—			—			(533	)		(533	)
Net issuance of common stock under employee stock plans		2.4			—		(16	)		—			(26	)		139			97
Recognition of share-based compensation expense		—			—		46			—			—			—			46
Employee deferred compensation obligations		—			—		1			—			—			(1	)		—
BALANCE AT SEPTEMBER 30, 2007		151.0		$	894	$	551		$	(238	)	$	5,484		$	(1,614	)	$	5,077

-22-

BUSINESS SEGMENT FINANCIAL RESULTS
Comerica Incorporated and Subsidiaries

							Wealth &
(dollar amounts in millions)	Business			Retail			Institutional
Three Months Ended September 30, 2007	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	332		$	159		$	36		$	(16	)	$	(7	)	$	504
Provision for loan losses		43			7			(5	)		—			—			45
Noninterest income		82			56			70			17			5			230
Noninterest expenses		177			160			81			2			3			423
Provision (benefit) for income taxes (FTE)		60			16			10			(3	)		3			86
Income from discontinued operations, net of tax		—			—			—			—			1			1
Net income (loss)	$	134		$	32		$	20		$	2		$	(7	)	$	181
Net credit-related charge-offs	$	30		$	9		$	1		$	—		$	—		$	40
Selected average balances:
Assets	$	40,796		$	6,854		$	4,152		$	5,564		$	1,180		$	58,546
Loans		39,746			6,111			3,989			2			26			49,874
Deposits		15,948			17,144			2,378			5,748			(102	)		41,116
Liabilities		16,783			17,158			2,385			16,971			225			53,522
Attributed equity		2,902			848			338			615			321			5,024
Statistical data:
Return on average assets (1)		1.32	%		0.71	%		1.90	%		N/M			N/M			1.23	%
Return on average attributed equity		18.52			15.05			23.39			N/M			N/M			14.38
Net interest margin (2)		3.31			3.68			3.58			N/M			N/M			3.66
Efficiency ratio		43.47			74.31			75.95			N/M			N/M			58.00
							Wealth &
	Business			Retail			Institutional
Three Months Ended June 30, 2007	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	338		$	160		$	36		$	(18	)	$	(6	)	$	510
Provision for loan losses		32			4			2			—			(2	)		36
Noninterest income		68			57			70			16			14			225
Noninterest expenses		176			160			79			3			(7	)		411
Provision (benefit) for income taxes (FTE)		62			18			9			(5	)		8			92
Income from discontinued operations, net of tax		—			—			—			—			—			—
Net income (loss)	$	136		$	35		$	16		$	—		$	9		$	196
Net credit-related charge-offs	$	24		$	6		$	—		$	—		$	—		$	30
Selected average balances:
Assets	$	40,848		$	6,828		$	4,009		$	5,296		$	1,137		$	58,118
Loans		39,824			6,100			3,860			2			7			49,793
Deposits		16,432			17,191			2,295			5,840			(76	)		41,682
Liabilities		17,263			17,204			2,303			16,033			218			53,021
Attributed equity		2,914			846			325			595			417			5,097
Statistical data:
Return on average assets (1)		1.33	%		0.78	%		1.59	%		N/M			N/M			1.35	%
Return on average attributed equity		18.69			16.56			19.55			N/M			N/M			15.41
Net interest margin (2)		3.39			3.73			3.72			N/M			N/M			3.76
Efficiency ratio		43.49			73.61			74.74			N/M			N/M			55.97
							Wealth &
	Business			Retail			Institutional
Three Months Ended September 30, 2006	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	331		$	161		$	37		$	(25	)	$	(2	)	$	502
Provision for loan losses		6			4			—			—			5			15
Noninterest income		56			53			63			16			7			195
Noninterest expenses		171			151			76			3			(2	)		399
Provision (benefit) for income taxes (FTE)		63			19			8			(7	)		5			88
Income from discontinued operations, net of tax		—			—			—			—			5			5
Net income (loss)	$	147		$	40		$	16		$	(5	)	$	2		$	200
Net credit-related charge-offs	$	2		$	6		$	—		$	—		$	—		$	8
Selected average balances:
Assets	$	39,690		$	6,766		$	3,683		$	5,068		$	1,583		$	56,790
Loans		38,473			6,067			3,547			18			20			48,125
Deposits		17,184			16,751			2,317			5,682			(78	)		41,856
Liabilities		18,112			16,754			2,315			14,061			345			51,587
Attributed equity		2,640			827			292			496			948			5,203
Statistical data:
Return on average assets (1)		1.48	%		0.90	%		1.74	%		N/M			N/M			1.41	%
Return on average attributed equity		22.30			19.11			21.95			N/M			N/M			15.38
Net interest margin (2)		3.42			3.81			4.12			N/M			N/M			3.79
Efficiency ratio		44.14			70.42			76.01			N/M			N/M			57.15

(1)		Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity.
(2)		Net interest margin is calculated based on the greater of average earning assets or average deposits and purchased funds.
FTE	—	Fully Taxable Equivalent
N/M	—	Not Meaningful

-23-

MARKET SEGMENT FINANCIAL RESULTS
Comerica Incorporated and Subsidiaries

																			Finance
(dollar amounts in millions)													Other						& Other
Three Months Ended September 30, 2007	Midwest			Western			Texas			Florida			Markets			International			Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	241		$	177		$	71		$	13		$	8		$	17		$	(23	)	$	504
Provision for loan losses		24			23			(2	)		3			3			(6	)		—			45
Noninterest income		124			36			24			4			9			11			22			230
Noninterest expenses		220			110			58			10			9			11			5			423
Provision (benefit) for income taxes (FTE)		32			30			13			1			2			8			—			86
Income from discontinued operations, net of tax		—			—			—			—			—			—			1			1
Net income (loss)	$	89		$	50		$	26		$	3		$	3		$	15		$	(5	)	$	181
Net credit-related charge-offs (recoveries)	$	30		$	7		$	1		$	1		$	2		$	(1	)	$	—		$	40
Selected average balances:
Assets	$	22,792		$	17,095		$	7,172		$	1,706		$	767		$	2,270		$	6,744		$	58,546
Loans		21,816			16,543			6,902			1,692			757			2,136			28			49,874
Deposits		16,608			13,009			3,920			271			503			1,159			5,646			41,116
Liabilities		17,396			13,044			3,937			273			502			1,174			17,196			53,522
Attributed equity		1,978			1,201			597			97			64			151			936			5,024
Statistical data:
Return on average assets (1)		1.56	%		1.17	%		1.44	%		0.58	%		1.77	%		2.66	%		N/M			1.23	%
Return on average attributed equity		17.99			16.69			17.36			10.19			21.29			40.10			N/M			14.38
Net interest margin (2)		4.38			4.24			4.08			2.97			4.16			3.02			N/M			3.66
Efficiency ratio		60.55			51.82			60.90			58.59			55.17			43.17			N/M			58.00
																			Finance
													Other						& Other
Three Months Ended June 30, 2007	Midwest			Western			Texas			Florida			Markets			International			Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	248		$	179		$	69		$	11		$	8		$	19		$	(24	)	$	510
Provision for loan losses		34			5			3			2			—			(6	)		(2	)		36
Noninterest income		122			32			20			3			9			9			30			225
Noninterest expenses		217			113			56			9			9			11			(4	)		411
Provision (benefit) for income taxes (FTE)		32			35			10			1			3			8			3			92
Income from discontinued operations, net of tax		—			—			—			—			—			—			—			—
Net income (loss)	$	87		$	58		$	20		$	2		$	5		$	15		$	9		$	196
Net credit-related charge-offs (recoveries)	$	29		$	4		$	1		$	1		$	—		$	(5	)	$	—		$	30
Selected average balances:
Assets	$	22,875		$	17,257		$	6,844		$	1,666		$	769		$	2,274		$	6,433		$	58,118
Loans		21,946			16,715			6,570			1,649			759			2,145			9			49,793
Deposits		16,477			13,595			3,836			290			473			1,247			5,764			41,682
Liabilities		17,252			13,633			3,852			294			472			1,267			16,251			53,021
Attributed equity		1,981			1,206			594			90			59			155			1,012			5,097
Statistical data:
Return on average assets (1)		1.52	%		1.36	%		1.14	%		0.53	%		2.53	%		2.60	%		N/M			1.35	%
Return on average attributed equity		17.55			19.51			13.13			9.76			33.10			38.21			N/M			15.41
Net interest margin (2)		4.52			4.29			4.22			2.68			3.98			3.33			N/M			3.76
Efficiency ratio		58.60			53.59			63.11			63.23			54.26			40.28			N/M			55.97
																			Finance
													Other						& Other
Three Months Ended September 30, 2006	Midwest			Western			Texas			Florida			Markets			International			Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	251		$	176		$	67		$	11		$	7		$	17		$	(27	)	$	502
Provision for loan losses		24			(4	)		(1	)		(3	)		(1	)		(5	)		5			15
Noninterest income		117			23			19			4			7			2			23			195
Noninterest expenses		206			108			54			9			8			13			1			399
Provision (benefit) for income taxes (FTE)		36			35			11			3			2			3			(2	)		88
Income from discontinued operations, net of tax		—			—			—			—			—			—			5			5
Net income (loss)	$	102		$	60		$	22		$	6		$	5		$	8		$	(3	)	$	200
Net credit-related charge-offs (recoveries)	$	5		$	—		$	3		$	—		$	—		$	—		$	—		$	8
Selected average balances:
Assets	$	22,922		$	16,430		$	6,388		$	1,549		$	693		$	2,157		$	6,651		$	56,790
Loans		21,842			15,887			6,121			1,532			685			2,020			38			48,125
Deposits		16,716			13,975			3,672			313			500			1,076			5,604			41,856
Liabilities		17,538			14,041			3,687			317			498			1,100			14,406			51,587
Attributed equity		1,845			1,097			537			85			53			142			1,444			5,203
Statistical data:
Return on average assets (1)		1.77	%		1.47	%		1.40	%		1.62	%		2.59	%		1.40	%		N/M			1.41	%
Return on average attributed equity		22.02			22.04			16.62			29.57			33.71			21.37			N/M			15.38
Net interest margin (2)		4.56			4.39			4.30			2.81			4.55			3.17			N/M			3.79
Efficiency ratio		55.98			54.30			62.34			59.79			58.27			67.17			N/M			57.15

(1)		Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity.
(2)		Net interest margin is calculated based on the greater of average earning assets or average deposits and purchased funds.
FTE	—	Fully Taxable Equivalent
N/M	—	Not Meaningful

-24-