Exhibit 99

For Immediate Release                 Contact:  Kathleen Bruegenhemke
                                      Senior Vice President, Investor Relations
                                      TEL: 573.761.6100   FAX: 573.761.6272

                       EXCHANGE NATIONAL BANCSHARES, INC.
                      OF JEFFERSON CITY, MISSOURI DECLARES
                      QUARTERLY DIVIDEND OF $0.18 PER SHARE

            JEFFERSON CITY, MO, May 12, 2004 - Today, the board of directors of
Exchange National Bancshares, Inc. (NASDAQ: EXJF) approved a quarterly cash
dividend of 18 cents per share, payable July 1, 2004 to shareholders of record
at the close of business on June 16, 2004.

            In commenting on the Board's action, Chairman and CEO James E. Smith
said, "We are pleased to again demonstrate our financial strength through
payment of a cash dividend. This quarter's dividend rate is consistent with the
dividend paid the previous quarter."

            Exchange National Bancshares, a multi-bank holding company
headquartered in Jefferson City, Missouri, is the parent company of The Exchange
National Bank of Jefferson City with locations in California, Tipton and St.
Robert; Citizens Union State Bank & Trust of Clinton with locations in Windsor,
Collins, Osceola and Springfield; and Osage Valley Bank of Warsaw.

Statements made in this press release that suggest Exchange National Bancshares'
or management's intentions, hopes, beliefs, expectations, or predictions of the
future include "forward-looking statements" within the meaning of Section 21E of
the Securities and Exchange Act of 1934, as amended. It is important to note
that actual results could differ materially from those projected in such
forward-looking statements. Additional information concerning factors that could
cause actual results to differ materially from those projected in such
forward-looking statements is contained from time to time in the company's
quarterly and annual reports filed with the Securities and Exchange Commission.


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