EXHIBIT 99


FOR IMMEDIATE RELEASE                     Contact:  Dennis E. Nixon
                                                    (956)722-7611 (Laredo)

                                                    Katie Brickman
                                                    (210) 826-8899 (San Antonio)

                 INTERNATIONAL BANCSHARES CORPORATION ANNOUNCES
                                 STOCK DIVIDEND

LAREDO, TX,.....April 7, 1999......International Bancshares Corporation (IBC)
today announced that on April 1, 1999, the Board of Directors approved a 25
percent stock split-up effected through a stock dividend to all holders of
record of common stock, $1.00 par value, on May 20, 1999, to be issued on June
11, 1999. "The Board of Directors believe that stock dividends will provide
additional incentive for shareholders to hold the IBC stock," said Dennis E.
Nixon, Chairman of the Board and Chief Executive Officer.

On March 23, 1999, IBC announced a cash dividend on its outstanding shares of
common stock of $.60 per share for shareholders of record as of March 31, 1999,
payable on April 15, 1999. The cash dividend represents a 50 percent increase in
the dividend rate of $.40 per share that was paid October 15, 1998. Nixon
commented that the Board of Directors voted to increase the dividend rate
because of the continued success of IBC, and their desire to recognize the
support IBC shareholders have given the Company. "The directors believe that
cash dividends will enhance the value of each IBC share," Nixon said.

IBC (NASDAQ: IBOC) is a $4.9 billion multi-bank holding company headquartered in
Laredo, Texas, with 93 main bank and branch facilities and 164 ATM's serving 28
communities, including San Antonio, Houston, Corpus Christi, McAllen,
Brownsville, Port Lavaca, Zapata and cities throughout the Rio Grande Valley and
the Texas Gulf Coast.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not historical facts
contain forward looking information with respect to plans, projections or future
performance of IBC and its subsidiaries, the occurrence of which involve certain
risks and uncertainties detailed in IBC's filings with the Securities and
Exchange Commission.

Copies of IBC's SEC filings and Annual Report (as an exhibit to the 10-K) may be
downloaded from the Internet at no charge from FreeEDGAR, a real-time access to
SEC filings site located at HTTP://WWW.FREEEEDGAR.COM.

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