Comerica Reports First Quarter 2008 Earnings

Loan Growth Continues in High Growth Markets Deposit Rate Reductions and Deposit Growth Among Other Highlights Credit Issues Focused on California Residential Real Estate Development Portfolio

DALLAS, April 17 /PRNewswire-FirstCall/ -- Comerica Incorporated (NYSE: CMA) today reported first quarter 2008 income from continuing operations of $110 million, or $0.73 per diluted share, compared to $117 million, or $0.77 per diluted share, for the fourth quarter 2007 and $189 million, or $1.19 per diluted share, for the first quarter 2007. First quarter 2008 included a $159 million provision for loan losses, compared to $108 million for the fourth quarter 2007 and $23 million for the first quarter 2007.

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       (dollar amounts in millions,         1st Qtr    4th Qtr     1st Qtr
        except per share data)                '08        '07         '07

       Net interest income                    $476       $489        $502
       Provision for loan losses               159        108          23
       Noninterest income                      237        230         203
       Noninterest expenses                    403        450         407

       Income from continuing operations,
        net of tax                             110        117         189
       Net income                              109        119         190

       Diluted EPS from continuing
        operations                            0.73       0.77        1.19
       Diluted EPS from discontinued
        operations*                              -       0.02           -
       Diluted EPS                            0.73       0.79        1.19

       Return on average common
        shareholders' equity from
        continuing operations                 8.51 %     9.20 %     14.86 %
       Return on average common
        shareholders' equity                  8.42       9.35       14.89

       Net interest margin                    3.22       3.43        3.82

       * 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.

"Despite the challenged economic environment, we remained focused on executing our strategy in the first quarter, as evidenced by good loan and deposit growth, particularly in our high-growth markets," said Ralph W. Babb Jr., chairman and chief executive officer. "While the continued deterioration of the California residential real estate market and its effects on our residential real estate development portfolio affected our overall performance, the remainder of our loan portfolio continued to exhibit stable credit metrics.

"As expected, the net interest margin of 3.22 percent declined 21 basis points from the fourth quarter, largely due to planned securities purchases, expected loan growth in excess of core deposit growth, and the reduced contribution of noninterest-bearing funds in a lower rate environment.

"Our expenses were well controlled in the first quarter with reduced headcount, even as we continued our banking center expansion program."

First Quarter 2008 Compared to Fourth Quarter 2007

On an annualized basis, excluding Financial Services Division (FSD) loans, average loans increased 10 percent, with growth of 14 percent in the Texas market, 10 percent in the Western market and 9 percent in the Midwest market.
On an annualized basis, total deposits, excluding FSD deposits and institutional certificates of deposit, increased five percent, including an increase in noninterest-bearing deposits of 12 percent. Deposit growth occurred while deposit rates were lowered. Funding sources also included $2 billion of new advances from the Federal Home Loan Bank of Dallas with a five-year term at an attractive rate.
The net interest margin was 3.22 percent in the first quarter 2008, a decrease of 21 basis points from 3.43 percent in the fourth quarter 2007, largely due to planned securities purchases, expected loan growth in excess of core deposit growth and the reduced contribution of noninterest-bearing funds in a lower rate environment.
Net credit-related charge-offs were $110 million, or 85 basis points as a percent of average total loans, for the first quarter 2008, compared to $64 million, or 50 basis points as a percent of average total loans, for the fourth quarter 2007. Of the first quarter charge-offs, $75 million were in the Commercial Real Estate business line, predominantly with residential real estate developers in the Western market. The remaining net charge-offs of $35 million were 31 basis points of average non-Commercial Real Estate loans. The provision for loan losses was $159 million for the first quarter 2008, compared to $108 million for the fourth quarter 2007, bringing the period-end allowance to total loans ratio to 1.16 percent from 1.10 percent at December 31, 2007.
Noninterest income increased $7 million, and included a $21 million gain on Visa shares, with increases in investment banking fees and service charges on deposit accounts, partially offset by decreases in net income from principal investing and warrants, seasonally lower commercial lending fees, and deferred compensation asset returns (which are offset by a decrease in deferred compensation plan costs in noninterest expenses).
Noninterest expenses decreased $47 million from the fourth quarter 2007, mostly due to the first quarter 2008 reversal of the $13 million loss sharing arrangement expense that was recorded in the fourth quarter 2007 related to membership in Visa and a $16 million decrease in salaries expense, including a decrease in deferred compensation plan costs in first quarter 2008, partially offset by an increase in share- based compensation expense.
The estimated Tier 1 common capital ratio was 6.71 percent, within the targeted range.

    Net Interest Income and Net Interest Margin

      (dollar amounts in millions)          1st Qtr     4th Qtr     1st Qtr
                                              '08         '07         '07

      Net interest income                     $476        $489        $502

      Net interest margin                     3.22 %      3.43 %      3.82 %

      Selected average balances:
       Total earning assets                $59,518     $56,621     $53,148
       Total investment securities           7,222       5,533       3,745
       Total loans                          51,852      50,699      48,896
       Total loans, excluding FSD loans
        (primarily low-rate)                51,050      49,758      47,327

       Total interest-bearing deposits      33,440      31,834      30,417
       Total noninterest-bearing
        deposits                            10,622      10,533      12,162
       Total noninterest-bearing
        deposits, excluding FSD              8,728       8,473       8,712

The $13 million decrease in net interest income in the first quarter 2008, when compared to fourth quarter 2007, resulted primarily from a reduction in the net interest margin and the impact of one less day ($5 million), partially offset by growth in securities and loans.
The net interest margin of 3.22 percent declined 21 basis points, as compared to fourth quarter 2007, reflecting the decreased contribution of noninterest-bearing funds in a lower rate environment and earning asset growth in excess of deposit growth, partially offset by deposit rate reductions.
Securities purchases consisted of AAA-rated mortgage-backed securities issued by government sponsored enterprises (FNMA, FHLMC).

Noninterest Income

Noninterest income was $237 million for the first quarter 2008, compared to $230 million for the fourth quarter 2007 and $203 million for the first quarter 2007. Noninterest income in the first quarter 2008, compared to the fourth quarter 2007, included the $21 million gain on the sale of Visa shares (included in "net securities gains") and increased service charges on deposit accounts ($1 million) and investment banking fees ($4 million), partially offset by decreases in seasonally lower commercial lending fees ($6 million), net income (loss) from principal investing and warrants ($10 million) and deferred compensation asset returns ($7 million, offset by a decrease in deferred compensation plan costs in noninterest expenses).

Noninterest Expenses

Noninterest expenses were $403 million for the first quarter 2008, compared to $450 million for the fourth quarter 2007 and $407 million for the first quarter 2007. The $47 million decrease in noninterest expenses in the first quarter 2008, compared to the fourth quarter 2007, reflected a $16 million decrease in salaries expense and the reversal of the $13 million Visa loss sharing arrangement expense that was recorded in the fourth quarter 2007 (included in "litigation and operational losses"). The decrease in salaries expense was primarily due to additional cost deferrals from a refinement in application of Statement of Financial Accounting Standards No. 91 - Accounting for Loan Origination Fees and Costs (FAS 91) ($11 million), a decrease in deferred compensation plan costs ($7 million) and reduced headcount, partially offset by an increase of $8 million in share-based compensation, reflecting that portion of the annual award of restricted stock which is required to be expensed in the period granted. Certain categories of noninterest expenses are highlighted in the table below.

                                         1st Qtr      4th Qtr    1st Qtr
                                           '08          '07        '07
        Salaries
           Regular salaries                $151         $163       $154
           Severance                          2            3          -
           Incentives                        32           36         27
           Deferred compensation plan
            costs                            (5)           2          2
           Share-based compensation          20           12         23
             Total salaries                 200          216        206
        Employee benefits                    47           48         46
        Customer services                     6            7         14
        Litigation and operational losses    (8)          18          3
        Provision for credit losses on
         lending-related commitments          4            3         (2)

Tax-related Items

The provision for income taxes reflected a benefit of $5 million resulting from an after-tax adjustment to deferred tax assets in the first quarter 2008. Fourth quarter 2007 interest on tax liabilities (classified in the "provision for income taxes") reflected a $9 million reduction ($6 million after-tax) of interest resulting from a settlement with the Internal Revenue Service on asset depreciation.

Credit Quality

"California residential real estate developers, in particular, continued to struggle," said Babb. "The excess inventory, declining prices and extended time to sell have had a debilitating effect on the California housing market. We are aggressively addressing this situation as the market has continued to deteriorate."

The allowance to loan ratio increased to 1.16 percent at March 31, 2008, from 1.10 percent at December 31, 2007.
The provision for loan losses and loan quality reflected increased challenges primarily in residential real estate development located in both northern and southern California (Western market).
Net loan charge-offs in the Commercial Real Estate business line in the first quarter 2008 were $75 million, of which $58 million were from residential real estate developers in the Western market. Comparable numbers for the fourth quarter 2007 were $36 million in total, of which $9 million were from residential real estate developers in the Western market. Excluding the Western market, other Commercial Real Estate net loan charge-offs in the first quarter 2008 totaled $17 million, compared to $27 million in the fourth quarter 2007. In California, the median sales price of existing single family homes declined almost 14 percent from the fourth quarter 2007 (30 percent from one year ago) and single family home building permits (trailing 12 months) declined over 10 percent (33 percent from one year ago).
Net loan charge-offs, excluding the Commercial Real Estate business line, were $35 million in the first quarter 2008, or 31 basis points of average non-Commercial Real Estate loans, compared to $27 million in the fourth quarter 2007, or 25 basis points of average non-Commercial Real Estate loans.

          (dollar amounts in millions)       1st Qtr     4th Qtr     1st Qtr
                                               '08         '07         '07

           Net loan charge-offs                $110         $63         $16
           Net lending-related commitment
            charge-offs                           -           1           3
               Total net credit-related
                charge-offs                     110          64          19
           Net loan charge-offs/Average
            total loans                        0.85 %      0.50 %      0.13 %
           Net credit-related charge-
            offs/Average total loans           0.85        0.50        0.16

           Provision for loan losses           $159        $108         $23
           Provision for credit losses on
            lending-related commitments           4           3          (2)
               Total provision for credit
                losses                          163         111          21

           Nonperforming assets (NPAs)          560         423         233
           NPAs/Total loans and
            foreclosed property                1.07 %      0.83 %      0.49 %

           Allowance for loan losses           $605        $557        $500
           Allowance for credit losses on
            lending-related commitments*         25          21          21
               Total allowance for credit
                losses                          630         578         521
           Allowance for loan
            losses/Total loans                 1.16 %      1.10 %      1.04 %
           Allowance for loan
            losses/Nonperforming loans          112         138         229

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

Balance Sheet and Capital Management

Total assets and common shareholders' equity were $67.0 billion and $5.3 billion, respectively, at March 31, 2008, compared to $62.3 billion and $5.1 billion, respectively, at December 31, 2007. There were approximately 151 million shares outstanding at March 31, 2008, compared to 150 million shares outstanding at December 31, 2007. No shares were repurchased in the open market in the first quarter 2008.

Comerica's first quarter 2008 estimated Tier 1 common, Tier 1 and total risk-based capital ratios were 6.71 percent, 7.35 percent and 11.00 percent, respectively.

Full Year 2008 Outlook Compared to Full Year 2007 from Continuing Operations

Mid single-digit average loan growth, excluding Financial Services Division loans, with low single-digit growth in the Midwest market, mid to high single-digit growth in the Western market and low double-digit growth in the Texas market.
Average earning asset growth in excess of average loan growth, with securities averaging about $8 billion for the remainder of the year.
Average Financial Services Division noninterest-bearing deposits of $1.7 to $1.9 billion. Financial Services Division loans will fluctuate in tandem with the level of noninterest-bearing deposits.
Based on the federal funds rate declining to 1.75 percent by mid-year 2008, average full year net interest margin around 3.10 percent, including the effects of higher levels of securities, lower value of noninterest-bearing deposits and average loan growth exceeding average deposit growth.
Average net credit-related charge-offs of 75-80 basis points of average loans. The provision for credit losses is expected to exceed net charge-offs.
Low single-digit growth in noninterest income.
Low single-digit decline in noninterest expenses.
Effective tax rate of about 28 percent.
Maintain a Tier 1 common capital ratio within a target range of 6.50 to 7.50 percent.

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 Comerica and methodologies in effect at March 31, 2008, and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses first quarter 2008 results compared to fourth quarter 2007.

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


          (dollar amounts
           in millions)                1st Qtr       4th Qtr       1st Qtr
                                         '08           '07           '07

           Business Bank              $62    51 %   $93    83 %  $146    70 %
           Retail Bank                 40    33       5     5      42    20
           Wealth & Institutional
            Management                 20    16      13    12      21    10
                                      122   100 %   111   100 %   209   100 %
           Finance                     (3)           (8)          (12)
           Other*                     (10)           16            (7)
                Total                $109          $119          $190

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


    Business Bank

      (dollar amounts in millions)           1st Qtr      4th Qtr     1st Qtr
                                               '08          '07         '07

       Net interest income (FTE)               $329         $330        $337
       Provision for loan losses                147           88          14
       Noninterest income                        74           80          61
       Noninterest expenses                     176          186         170
       Net income                                62           93         146

       Net credit-related charge-offs            99           50          14

       Selected average balances:
       Assets                                42,129       41,327      40,059
       Loans                                 41,219       40,285      39,015
          FSD loans                             802          941       1,569
       Deposits                              15,878       15,931      16,711
          FSD deposits                        2,988        3,181       4,698

       Net interest margin                     3.20  %      3.25 %      3.50 %

Average loans, excluding the Financial Services Division, increased $1.1 billion, or 11 percent on an annualized basis, driven by growth in Global Corporate, Middle Market, Energy and National Dealer Services.
Average deposits, excluding the Financial Services Division, increased $140 million, or 4 percent on an annualized basis, due to growth in Middle Market, Global Corporate and Technology and Life Sciences, partially offset by decreases in Commercial Real Estate and International.
The net interest margin of 3.20 percent decreased five basis points primarily due to the impact from the Financial Services Division of lower deposit balances and lower value of noninterest-bearing deposits in a lower rate environment.
The provision for loan losses increased $59 million primarily due to continuing challenges in Commercial Real Estate (residential real estate developers in the Western market), and changes in Middle Market, including the effect of a benefit recognized in the fourth quarter 2007 in automotive supplier reserves and a single Florida Middle Market customer default.
Noninterest income decreased $6 million primarily due to a decrease in principal investing and warrant income and lower commercial lending fees, partially offset by an increase in investment banking fees.

Noninterest expenses declined $10 million, primarily due to a decrease in salaries expense related to the refinement in application of FAS 91 and a decline in customer service expenses.

    Retail Bank

      (dollar amounts in millions)           1st Qtr      4th Qtr     1st Qtr
                                               '08          '07         '07

       Net interest income (FTE)               $148         $161        $170
       Provision for loan losses                 17           26           5
       Noninterest income                        74           55          52
       Noninterest expenses                     143          182         153
       Net income                                40            5          42

       Net credit-related charge-offs            10           14           5

       Selected average balances:
       Assets                                 7,144        6,998       6,840
       Loans                                  6,276        6,229       6,095
       Deposits                              17,162       17,254      17,032

       Net interest margin                     3.47  %      3.69 %      4.04 %

< >Average loans increased $47 million, or three percent on an annualized basis, as a result of growth in Small Business.Average deposits decreased $92 million, primarily due to decreases in noninterest-bearing deposits and time deposits, partially offset by an increase in NOW accounts.The net interest margin of 3.47 percent decreased 22 basis points, primarily due to a decline in deposit spreads resulting from changes in the deposit mix.The provision for loan losses decreased $9 million, primarily in Small Business Banking, including SBA loans, from the fourth quarter 2007.Noninterest income increased $19 million, primarily due to the $21 million gain on Visa shares.Noninterest expenses decreased $39 million, primarily due to the first quarter 2008 reversal of the $13 million Visa loss sharing arrangement expense recorded in the fourth quarter 2007 and lower salaries expense related to the refinement in application of FAS 91.Three new banking centers were opened in the first quarter 2008 in the Western market.

    Wealth and Institutional Management


      (dollar amounts in millions)           1st Qtr      4th Qtr     1st Qtr
                                               '08          '07         '07

        Net interest income (FTE)               $36          $36         $37
        Provision for loan losses                 -            1          (1)
        Noninterest income                       75           72          71
        Noninterest expenses                     79           86          76
        Net income                               20           13          21

        Net credit-related charge-offs            1            -           -

        Selected average balances:
        Assets                                4,468        4,321       3,898
        Loans                                 4,315        4,146       3,747
        Deposits                              2,637        2,552       2,317

        Net interest margin                    3.33  %      3.43 %      3.92 %

< >Average loans increased $169 million, or 16 percent on an annualized basis.Average deposits increased $85 million, or 13 percent on an annualized basis.The net interest margin of 3.33 percent declined 10 basis points, primarily due to a decline in deposit spreads resulting from changes in the deposit mix.Noninterest income increased $3 million, partially due to an increase in customer derivative income.Noninterest expenses decreased $7 million, partially due to decreases in salaries and employee benefits and litigation and operational losses.

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 March 31, 2008 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses first quarter 2008 results compared to fourth quarter 2007.

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


         (dollar amounts in millions)   1st Qtr      4th Qtr       1st Qtr
                                         '08           '07           '07

            Midwest                   $87    71 %   $59    53 %   $79    39  %
            Western                   (10)   (8)     (2)   (2)     73    35
            Texas                      20    16      14    13      23    11
            Florida                    (4)   (3)     (1)   (1)      3     1
            Other Markets              19    15      30    27      22    10
            International              10     9      11    10       9     4
                                      122   100 %   111   100 %   209   100 %
            Finance & Other
             Businesses*              (13)            8           (19)
                 Total               $109          $119          $190

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



    Midwest

      (dollar amounts in millions)           1st Qtr      4th Qtr     1st Qtr
                                               '08          '07         '07

         Net interest income (FTE)             $205         $212        $227
         Provision for loan losses               20           21          27
         Noninterest income                     136          120         115
         Noninterest expenses                   186          218         194
         Net income                              87           59          79

         Net credit-related charge-offs          28           37          21

         Selected average balances:
         Assets                              19,656       19,228      19,180
         Loans                               19,030       18,601      18,614
         Deposits                            16,127       16,117      15,868

         Net interest margin                   4.30  %      4.50 %      4.93 %

< >Average loans increased $429 million, or nine percent on an annualized basis, primarily due to increases in the Global Corporate and National Dealer Services.Average deposits increased $10 million, as increases in Global Corporate and Personal Banking were offset by a decline in Small Business Banking.The net interest margin of 4.30 percent declined 20 basis points, primarily due to a decline in deposit spreads resulting from changes in the deposit mix, partially offset by an increase in loan spreads.The provision for loan losses was relatively unchanged, with improved Commercial Real Estate offset by changes in Middle Market, including the effect of a benefit recognized in the fourth quarter 2007 in automotive supplier reserves.Noninterest income increased $16 million, due to the $17 million gain on Visa shares.Noninterest expenses decreased $32 million, primarily due to the first quarter 2008 reversal of the $10 million Visa loss sharing arrangement expense recorded in the fourth quarter 2007 and lower salaries expense related to the refinement in application of FAS 91.

    Western Market

        (dollar amounts in millions)         1st Qtr      4th Qtr     1st Qtr
                                               '08          '07         '07

         Net interest income (FTE)             $172         $178        $188
         Provision for loan losses              114           92         (12)
         Noninterest income                      33           35          27
         Noninterest expenses                   108          121         111
         Net income (loss)                      (10)          (2)         73

         Net credit-related charge-offs          66           23          (5)

         Selected average balances:
         Assets                              17,263       17,137      16,782
         Loans                               16,882       16,615      16,241
            FSD loans                           802          941       1,569
         Deposits                            12,848       13,012      13,696
            FSD deposits                      2,802        3,045       4,515

         Net interest margin                   4.07  %      4.24 %      4.69 %

< >Excluding the Financial Services Division, average loans increased $406 million, or 10 percent on an annualized basis, primarily due to growth in the Middle Market, Global Corporate and Technology and Life Sciences lines of business.Excluding the Financial Services Division, average deposits increased $79 million, or three percent on an annualized basis, primarily due to growth in Middle Market.The net interest margin of 4.07 percent declined 17 basis points due to the impact from the Financial Services Division of lower deposit balances and lower value of noninterest-bearing deposits in a lower rate environment.The provision for loan losses increased $22 million, primarily due to continuing challenges in Commercial Real Estate (residential real estate developers).Noninterest income decreased $2 million, primarily due to a decrease in principal investing and warrant income, partially offset by the $1 million gain on Visa shares.Noninterest expenses decreased $13 million, primarily due to a decrease in salaries and benefits expense, in part resulting from the refinement in application of FAS 91 and customer service expenses, and the first quarter 2008 reversal of the $1 million Visa loss sharing arrangement expense recorded in the fourth quarter 2007.Three new banking centers were opened in the first quarter 2008.

    Texas Market

      (dollar amounts in millions)           1st Qtr      4th Qtr     1st Qtr
                                               '08          '07         '07

         Net interest income (FTE)              $74          $74         $69
         Provision for loan losses                8            7           -
         Noninterest income                      24           23          19
         Noninterest expenses                    58           67          53
         Net income                              20           14          23

         Total net credit-related charge-offs     5            3           3

         Selected average balances:
         Assets                               7,932        7,677       6,719
         Loans                                7,642        7,381       6,444
         Deposits                             4,005        3,935       3,843

         Net interest margin                   3.83  %      3.95 %      4.31 %

< >Average loans increased $261 million, or 14 percent on an annualized basis, primarily due to growth in Energy, Middle Market and Commercial Real Estate.Excluding the Financial Services Division, average deposits increased $19 million, or two percent on an annualized basis.The net interest margin of 3.83 percent decreased 12 basis points primarily due to deposit spreads resulting from changes in the deposit mix.Noninterest income increased $1 million, primarily due to the $3 million gain on Visa shares.Noninterest expenses decreased $9 million, primarily due to the first quarter 2008 reversal of the $2 million Visa loss sharing arrangement expense recorded in the fourth quarter 2007 and a decrease in salaries expense related to the refinement in application of FAS 91.

    Florida Market

      (dollar amounts in millions)           1st Qtr      4th Qtr     1st Qtr
                                               '08          '07         '07

         Net interest income (FTE)              $11          $11         $11
         Provision for loan losses               12            5           1
         Noninterest income                       5            4           4
         Noninterest expenses                    10           11           9
         Net income (loss)                       (4)          (1)          3

         Net credit-related charge-offs          10            -           -

         Selected average balances:
         Assets                               1,891        1,732       1,646
         Loans                                1,877        1,719       1,626
         Deposits                               362          299         284

         Net interest margin                   2.55  %      2.67 %      2.80 %

< >Average loans increased $158 million, primarily due to a transfer of Florida loans previously serviced from the Texas market.Average deposits increased $63 million, primarily due to growth in Private Banking.The provision for loan losses increased $7 million, primarily due to a single Middle Market customer.

          CONSOLIDATED FINANCIAL HIGHLIGHTS
          Comerica Incorporated and Subsidiaries


                                                  Three Months Ended

                                            March 31, December 31, March 31,
    (in millions, except per share data)       2008       2007       2007
    PER SHARE AND COMMON STOCK DATA
    Diluted income from continuing
     operations                               $0.73      $0.77      $1.19
    Diluted net income                         0.73       0.79       1.19
    Cash dividends declared                    0.66       0.64       0.64
    Common shareholders' equity (at period
     end)                                     34.93      34.12      32.78

    Average diluted shares (in thousands)   150,734    150,943    158,915
    KEY RATIOS
    Return on average common shareholders'
     equity from continuing operations         8.51 %     9.20 %    14.86 %
    Return on average common shareholders'
     equity                                    8.42       9.35      14.89
    Return on average assets from
     continuing operations                     0.69       0.77       1.33
    Return on average assets                   0.68       0.79       1.33
    Average common shareholders' equity as
     a percentage of average assets            8.12       8.41       8.92
    Tier 1 common capital ratio *              6.71       6.85       7.49
    Tier 1 risk-based capital ratio *          7.35       7.51       8.19
    Total risk-based capital ratio *          11.00      11.20      12.15
    Leverage ratio *                           8.86       9.26      10.00
    AVERAGE BALANCES
    Commercial loans                        $29,178    $28,393    $27,757
    Real estate construction loans            4,811      4,846      4,249
    Commercial mortgage loans                10,142      9,941      9,673
    Residential mortgage loans                1,916      1,891      1,705
    Consumer loans                            2,449      2,412      2,405
    Lease financing                           1,347      1,327      1,273
    International loans                       2,009      1,889      1,834
    Total loans                              51,852     50,699     48,896

    Earning assets                           59,518     56,621     53,148
    Total assets                             63,927     60,507     57,088
    Interest-bearing deposits                33,440     31,834     30,417
    Total interest-bearing liabilities       46,793     43,574     38,498
    Noninterest-bearing deposits             10,622     10,533     12,162
    Common shareholders' equity               5,192      5,087      5,092
    NET INTEREST INCOME
    Net interest income (fully taxable
     equivalent basis)                         $477       $489       $503
    Fully taxable equivalent adjustment           1          -          1
    Net interest margin                        3.22 %     3.43 %     3.82 %
    CREDIT QUALITY
    Nonaccrual loans                           $538       $391       $218
    Reduced-rate loans                            -         13          -
    Total nonperforming loans                   538        404        218
    Foreclosed property                          22         19         15
    Total nonperforming assets                  560        423        233

    Loans past due 90 days or more and
     still accruing                              80         54         15

    Gross loan charge-offs                      116         72         34
    Loan recoveries                               6          9         18
    Net loan charge-offs                        110         63         16
    Lending-related commitment charge-offs        -          1          3
    Total net credit-related charge-offs        110         64         19

    Allowance for loan losses                   605        557        500
    Allowance for credit losses on lending-
     related commitments                         25         21         21
    Total allowance for credit losses           630        578        521

    Allowance for loan losses as a
     percentage of total loans                 1.16 %     1.10 %     1.04 %
    Net loan charge-offs as a percentage of
     average total loans                       0.85       0.50       0.13
    Net credit-related charge-offs as a
     percentage of average total loans         0.85       0.50       0.16
    Nonperforming assets as a percentage of
     total loans and foreclosed property       1.07       0.83       0.49
    Allowance for loan losses as a
     percentage of total nonperforming
     loans                                      112        138        229

    * March 31, 2008 ratios are estimated



          CONSOLIDATED BALANCE SHEETS
          Comerica Incorporated and Subsidiaries


                                          March 31,   December 31,  March 31,
    (in millions, except share data)         2008         2007         2007

    ASSETS
    Cash and due from banks                   $1,929      $1,440      $1,334
    Federal funds sold and securities
     purchased under agreements to resell         45          36       1,457
    Other short-term investments                 356         373         220
    Investment securities available-for-
     sale                                      8,563       6,296       3,989

    Commercial loans                          29,475      28,223      26,681
    Real estate construction loans             4,769       4,816       4,462
    Commercial mortgage loans                 10,359      10,048       9,592
    Residential mortgage loans                 1,926       1,915       1,741
    Consumer loans                             2,448       2,464       2,392
    Lease financing                            1,341       1,351       1,273
    International loans                        2,034       1,926       1,848
         Total loans                          52,352      50,743      47,989
    Less allowance for loan losses              (605)       (557)       (500)
         Net loans                            51,747      50,186      47,489

    Premises and equipment                       670         650         596
    Customers' liability on acceptances
     outstanding                                  28          48          55
    Accrued income and other assets            3,679       3,302       2,387
         Total assets                        $67,017     $62,331     $57,527

    LIABILITIES AND SHAREHOLDERS' EQUITY
    Noninterest-bearing deposits             $12,792     $11,920     $13,584

    Money market and NOW deposits             15,601      15,261      14,815
    Savings deposits                           1,408       1,325       1,410
    Customer certificates of deposit           8,191       8,357       7,447
    Institutional certificates of deposit      7,752       6,147       5,679
    Foreign office time deposits               1,075       1,268         735
         Total interest-bearing deposits      34,027      32,358      30,086
         Total deposits                       46,819      44,278      43,670

    Short-term borrowings                      2,434       2,807         329
    Acceptances outstanding                       28          48          55
    Accrued expenses and other
     liabilities                               1,679       1,260       1,214
    Medium- and long-term debt                10,800       8,821       7,148
         Total liabilities                    61,760      57,214      52,416

    Common stock - $5 par value:
      Authorized - 325,000,000 shares
      Issued - 178,735,252 shares at
       3/31/08, 12/31/07 and 3/31/07             894         894         894
    Capital surplus                              565         564         524
    Accumulated other comprehensive loss         (67)       (177)       (284)
    Retained earnings                          5,496       5,497       5,302
    Less cost of common stock in treasury
     - 28,233,996 shares at 3/31/08,
     28,747,097 shares at 12/31/07 and
     22,834,368 shares at 3/31/07             (1,631)     (1,661)     (1,325)
         Total shareholders' equity            5,257       5,117       5,111
         Total liabilities and
          shareholders' equity               $67,017     $62,331     $57,527



          CONSOLIDATED STATEMENTS OF INCOME
          Comerica Incorporated and Subsidiaries


                                                        Three Months Ended
                                                             March 31,
    (in millions, except per share data)              2008              2007

    INTEREST INCOME
    Interest and fees on loans                        $770              $851
    Interest on investment securities                   88                42
    Interest on short-term investments                   5                 8
          Total interest income                        863               901

    INTEREST EXPENSE
    Interest on deposits                               253               286
    Interest on short-term borrowings                   29                22
    Interest on medium- and long-term debt             105                91
          Total interest expense                       387               399
          Net interest income                          476               502
    Provision for loan losses                          159                23
          Net interest income after
           provision for loan losses                   317               479

    NONINTEREST INCOME
    Service charges on deposit accounts                 58                54
    Fiduciary income                                    52                49
    Commercial lending fees                             17                16
    Letter of credit fees                               15                16
    Foreign exchange income                             10                 9
    Brokerage fees                                      10                11
    Card fees                                           14                12
    Bank-owned life insurance                           10                10
    Net securities gains                                22                 -
    Net gain on sales of businesses                      -                 1
    Other noninterest income                            29                25
          Total noninterest income                     237               203

    NONINTEREST EXPENSES
    Salaries                                           200               206
    Employee benefits                                   47                46
         Total salaries and employee benefits          247               252
    Net occupancy expense                               38                35
    Equipment expense                                   15                15
    Outside processing fee expense                      23                20
    Software expense                                    19                15
    Customer services                                    6                14
    Litigation and operational losses                   (8)                3
    Provision for credit losses on
     lending-related commitments                         4                (2)
    Other noninterest expenses                          59                55
          Total noninterest expenses                   403               407
    Income from continuing operations
     before income taxes                               151               275
    Provision for income taxes                          41                86
    Income from continuing operations                  110               189
    Income (loss) from discontinued
     operations, net of tax                             (1)                1
    NET INCOME                                        $109              $190

    Basic earnings per common share:
         Income from continuing operations           $0.74             $1.21
         Net income                                   0.73              1.21

    Diluted earnings per common share:
         Income from continuing operations            0.73              1.19
         Net income                                   0.73              1.19

    Cash dividends declared on common stock             99               101
    Dividends per common share                        0.66              0.64



        CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
        Comerica Incorporated and Subsidiaries

                                            First Fourth  Third Second  First
                                             Qtr    Qtr    Qtr    Qtr    Qtr
    (in millions, except per share data)     2008   2007   2007   2007   2007

    INTEREST INCOME
    Interest and fees on loans               $770   $873   $895   $882   $851
    Interest on investment securities          88     66     52     46     42
    Interest on short-term investments          5      5      5      5      8
          Total interest income               863    944    952    933    901

    INTEREST EXPENSE
    Interest on deposits                      253    303    294    284    286
    Interest on short-term borrowings          29     30     29     24     22
    Interest on medium- and long-term debt    105    122    126    116     91
          Total interest expense              387    455    449    424    399
          Net interest income                 476    489    503    509    502
    Provision for loan losses                 159    108     45     36     23
          Net interest income after
           provision for loan losses          317    381    458    473    479

    NONINTEREST INCOME
    Service charges on deposit accounts        58     57     55     55     54
    Fiduciary income                           52     52     49     49     49
    Commercial lending fees                    17     23     19     17     16
    Letter of credit fees                      15     16     16     15     16
    Foreign exchange income                    10     10     11     10      9
    Brokerage fees                             10     11     11     10     11
    Card fees                                  14     14     14     14     12
    Bank-owned life insurance                  10      9      8      9     10
    Net securities gains                       22      3      4      -      -
    Net gain on sales of businesses             -      -      -      2      1
    Other noninterest income                   29     35     43     44     25
          Total noninterest income            237    230    230    225    203

    NONINTEREST EXPENSES
    Salaries                                  200    216    207    215    206
    Employee benefits                          47     48     49     50     46
       Total salaries and employee
        benefits                              247    264    256    265    252
    Net occupancy expense                      38     36     34     33     35
    Equipment expense                          15     15     15     15     15
    Outside processing fee expense             23     24     23     24     20
    Software expense                           19     17     16     15     15
    Customer services                           6      7     11     11     14
    Litigation and operational losses          (8)    18      6     (9)     3
    Provision for credit losses on lending-
     related commitments                        4      3      -     (2)    (2)
    Other noninterest expenses                 59     66     62     59     55
          Total noninterest expenses          403    450    423    411    407
    Income from continuing operations
     before income taxes                      151    161    265    287    275
    Provision for income taxes                 41     44     85     91     86
    Income from continuing operations         110    117    180    196    189
    Income (loss) from discontinued
     operations, net of tax                    (1)     2      1      -      1
    NET INCOME                               $109   $119   $181   $196   $190

    Basic earnings per common share:
       Income from continuing operations    $0.74  $0.78  $1.18  $1.28  $1.21
       Net income                            0.73   0.80   1.20   1.28   1.21

    Diluted earnings per common share:
       Income from continuing operations     0.73   0.77   1.17   1.25   1.19
       Net income                            0.73   0.79   1.18   1.25   1.19

    Cash dividends declared on common stock    99     97     97     98    101
    Dividends per common share               0.66   0.64   0.64   0.64   0.64

    N/M - Not meaningful


        CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
        Comerica Incorporated and Subsidiaries

                                           First Quarter 2008 Compared To:

                                        Fourth Quarter 2007 First Quarter 2007
    (in millions, except per share data)   Amount  Percent    Amount  Percent

    INTEREST INCOME
    Interest and fees on loans              $(103)  (11.7)%     $(81)   (9.6)
    Interest on investment securities          22    33.2         46     N/M
    Interest on short-term investments          -   (11.5)        (3)  (39.7)
          Total interest income               (81)   (8.6)       (38)   (4.2)

    INTEREST EXPENSE
    Interest on deposits                      (50)  (16.3)       (33)  (11.5)
    Interest on short-term borrowings          (1)   (4.7)         7    31.5
    Interest on medium- and long-term debt    (17)  (14.8)        14    15.1
          Total interest expense              (68)  (15.1)       (12)   (3.1)
          Net interest income                 (13)   (2.5)       (26)   (5.1)
    Provision for loan losses                  51    47.2        136     N/M
          Net interest income after
           provision for loan losses          (64)  (16.6)      (162)  (33.8)

    NONINTEREST INCOME
    Service charges on deposit accounts         1     1.2          4     8.7
    Fiduciary income                            -     0.4          3     5.1
    Commercial lending fees                    (6)  (28.2)         1     2.3
    Letter of credit fees                      (1)   (4.8)        (1)   (4.6)
    Foreign exchange income                     -    (1.2)         1     9.2
    Brokerage fees                             (1)   (5.7)        (1)   (5.1)
    Card fees                                   -    (0.1)         2    16.4
    Bank-owned life insurance                   1    11.6          -     2.8
    Net securities gains                       19     N/M         22     N/M
    Net gain on sales of businesses             -     N/M         (1)    N/M
    Other noninterest income                   (6)  (18.5)         4    16.7
          Total noninterest income              7     2.8         34    17.0

    NONINTEREST EXPENSES
    Salaries                                  (16)   (7.5)        (6)   (2.7)
    Employee benefits                          (1)   (1.0)         1     2.6
       Total salaries and employee benefits   (17)   (6.4)        (5)   (1.8)
    Net occupancy expense                       2     6.3          3     8.5
    Equipment expense                           -     1.5          -     5.1
    Outside processing fee expense             (1)   (5.4)         3    13.5
    Software expense                            2    10.3          4    22.5
    Customer services                          (1)  (21.3)        (8)  (58.5)
    Litigation and operational losses         (26)    N/M        (11)    N/M
    Provision for credit losses on
     lending-related commitments                1    18.6          6     N/M
    Other noninterest expenses                 (7)   (8.7)         4     8.9
          Total noninterest expenses          (47)  (10.4)        (4)   (0.9)
    Income from continuing operations
     before income taxes                      (10)   (6.0)      (124)  (44.9)
    Provision for income taxes                 (3)   (7.2)       (45)  (52.3)
    Income from continuing operations          (7)   (5.6)       (79)  (41.6)
    Income (loss) from discontinued
     operations, net of tax                    (3)    N/M         (2)    N/M
    NET INCOME                               $(10)   (8.1)%     $(81)  (42.3)

    Basic earnings per common share:
       Income from continuing operations   $(0.04)   (5.1)%   $(0.47)  (38.8)
       Net income                           (0.07)   (8.8)     (0.48)  (39.7)

    Diluted earnings per common share:
      Income from continuing operations     (0.04)   (5.2)     (0.46)  (38.7)
      Net income                            (0.06)   (7.6)     (0.46)  (38.7)

    Cash dividends declared on common stock     2     3.4         (2)   (0.9)
    Dividends per common share               0.02     3.1       0.02     3.1

    N/M - Not meaningful



        ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES
        Comerica Incorporated and Subsidiaries


                                       2008               2007
    (in millions)                    1st Qtr 4th Qtr 3rd Qtr 2nd Qtr 1st Qtr

    Balance at beginning of period     $557    $512   $507    $500    $493

    Loan charge-offs:
        Commercial                       33      27     30      19      13
        Real estate construction:
            Commercial Real Estate
             business line               66      24      6       6       1
            Other business lines          1       1      2       2       -
              Total real estate
               construction              67      25      8       8       1
        Commercial mortgage:
            Commercial Real Estate
             business line                6       7      2       3       3
            Other business lines          2       9      4      10      14
              Total commercial
               mortgage                   8      16      6      13      17
        Residential mortgage              -       -      -       -       -
        Consumer                          7       4      3       3       3
        Lease financing                   -       -      -       -       -
        International                     1       -      -       -       -
            Total loan charge-offs      116      72     47      43      34

    Recoveries on loans previously
     charged-off:
        Commercial                        3       7      5       5      10
        Real estate construction          1       -      -       -       -
        Commercial mortgage               1       1      1       2       -
        Residential mortgage              -       -      -       -       -
        Consumer                          1       1      1       1       1
        Lease financing                   -       -      -       -       4
        International                     -       -      -       5       3
            Total recoveries              6       9      7      13      18
    Net loan charge-offs                110      63     40      30      16
    Provision for loan losses           159     108     45      36      23
    Foreign currency translation
     adjustment                          (1)      -      -       1       -
    Balance at end of period           $605    $557   $512    $507    $500

    Allowance for loan losses as a
     percentage of total loans         1.16 %  1.10 % 1.03 %  1.04 %  1.04 %

    Net loan charge-offs as a
     percentage of average total loans 0.85    0.50   0.32    0.24    0.13

    Net credit-related charge-offs as
     a percentage of average total
     loans                             0.85    0.50   0.32    0.24    0.16





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


                                         2008              2007
    (in millions)                      1st Qtr 4th Qtr 3rd Qtr 2nd Qtr 1st Qtr

    Balance at beginning of period         $21    $19     $19     $21    $26
    Less: Charge-offs on lending-related
     commitments (1)                         -      1       -       -      3
    Add: Provision for credit losses on
     lending-related commitments             4      3       -      (2)    (2)
    Balance at end of period               $25    $21     $19     $19    $21

    Unfunded lending-related commitments
     sold                                   $3    $22      $-      $-    $60

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



        NONPERFORMING ASSETS
        Comerica Incorporated and Subsidiaries


                                 2008                2007
    (in millions)              1st Qtr  4th Qtr  3rd Qtr  2nd Qtr  1st Qtr

    SUMMARY OF NONPERFORMING
     ASSETS AND PAST DUE LOANS
    Nonaccrual loans:
        Commercial                $87      $75      $64     $88      $73
        Real estate
         construction:
            Commercial Real
             Estate business line 309      161       55      37       21
            Other business lines    4        6        4       7        4
                Total real estate
                 construction     313      167       59      44       25
        Commercial mortgage:
            Commercial Real
             Estate business line  67       66       63      20       17
            Other business lines   64       75       77      84       84
                Total commercial
                 mortgage         131      141      140     104      101
        Residential mortgage        1        1        1       1        1
        Consumer                    3        3        4       3        4
        Lease financing             -        -        -       -        4
        International               3        4        4       4       10
                Total nonaccrual
                 loans            538      391      272     244      218
    Reduced-rate loans              -       13        -       -        -
                Total
                 nonperforming
                 loans            538      404      272     244      218
    Foreclosed property            22       19       19      15       15
                Total
                 nonperforming
                 assets          $560     $423     $291    $259     $233

    Nonperforming loans as a
     percentage of total loans   1.03 %   0.80 %   0.55 %  0.50 %   0.45 %
    Nonperforming assets as a
     percentage of total loans
     and foreclosed property     1.07     0.83     0.59    0.53     0.49
    Allowance for loan losses as
     a percentage of total
     nonperforming loans          112      138      188     207      229
    Loans past due 90 days or
     more and still accruing      $80      $54      $56     $29      $15

    ANALYSIS OF NONACCRUAL LOANS
    Nonaccrual loans at
     beginning of period         $391     $272     $244    $218     $214
         Loans transferred to
          nonaccrual (1)          281      185       94     107       69
         Nonaccrual business
          loan gross charge-offs
          (2)                    (108)     (68)     (44)    (40)     (31)
         Loans transferred to
          accrual status (1)        -        -       (5)     (8)       -
         Nonaccrual business
          loans sold (3)          (15)       -      (11)      -       (4)
         Payments/Other (4)       (11)       2       (6)    (33)     (30)
    Nonaccrual loans at end of
     period                      $538     $391     $272    $244     $218

    (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                 $108      $68      $44     $40      $31
          Performing watch list
           loans                    1        -        -       -        -
          Consumer and
           residential mortgage
           loans                    7        4        3       3        3
             Total gross loan
              charge-offs        $116      $72      $47     $43      $34

    (3) Analysis of loans sold:

          Nonaccrual business
           loans                  $15       $-      $11      $-       $4
          Performing watch list
           loans                    6       13        -       -        -
             Total loans sold     $21      $13      $11      $-       $4

    (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.



       ANALYSIS OF NET INTEREST INCOME (FTE)
       Comerica Incorporated and Subsidiaries


                                           Three Months Ended
                                   March 31, 2008        December 31, 2007
    (dollar amounts in        Average        Average  Average         Average
     millions)                Balance Interest  Rate  Balance Interest   Rate

    Commercial loans (1) (2)   $29,178  $429   5.93 %  $28,393  $500   7.00 %
    Real estate construction
     loans                       4,811    71   5.92      4,846    92   7.48
    Commercial mortgage loans   10,142   159   6.29      9,941   175   7.01
    Residential mortgage loans   1,916    29   6.01      1,891    29   6.16
    Consumer loans               2,449    37   6.02      2,412    41   6.64
    Lease financing              1,347    11   3.22      1,327     8   2.41
    International loans          2,009    30   6.01      1,889    34   7.03
    Business loan swap income
     (expense)                       -     5      -          -    (6)     -
         Total loans (2)        51,852   771   5.98     50,699   873   6.84

    Investment securities
     available-for-sale          7,222    88   4.93      5,533    66   4.76
    Federal funds sold and
     securities purchased
     under agreements to resell     80     1   3.28         90     1   4.79
    Other short-term
     investments                   364     4   4.34        299     4   5.44
         Total earning assets   59,518   864   5.84     56,621   944   6.62

    Cash and due from banks      1,240                   1,241
    Allowance for loan losses     (596)                   (541)
    Accrued income and other
     assets                      3,765                   3,186
         Total assets          $63,927                 $60,507

    Money market and NOW
     deposits (1)              $15,341    79   2.06    $15,174   116   3.03
    Savings deposits             1,359     2   0.64      1,374     4   1.00
    Customer certificates of
     deposit                     8,286    84   4.07      8,229    92   4.44
    Institutional certificates
     of deposit                  7,257    77   4.28      5,779    76   5.22
    Foreign office time
     deposits                    1,197    11   3.81      1,278    15   4.69
         Total interest-
          bearing deposits      33,440   253   3.05     31,834   303   3.77

    Short-term borrowings        3,497    29   3.28      2,560    30   4.64
    Medium- and long-term debt   9,856   105   4.27      9,180   122   5.31
         Total interest-
          bearing sources       46,793   387   3.32     43,574   455   4.15

    Noninterest-bearing
     deposits (1)               10,622                  10,533
    Accrued expenses and other
     liabilities                 1,320                   1,313
    Shareholders' equity         5,192                   5,087
         Total liabilities and
          shareholders' equity $63,927                 $60,507

    Net interest income/rate
     spread (FTE)                       $477   2.52             $489   2.47

    FTE adjustment                        $1                      $-

    Impact of net noninterest-bearing
     sources of funds                          0.70                    0.96
    Net interest margin (as a
     percentage of average earning
     assets) (FTE) (2)                         3.22 %                  3.43 %

    (1) FSD balances included
        above:
         Loans (primarily low-
          rate)                   $802    $2   1.12 %     $941    $2   0.98 %
         Interest-bearing
          deposits               1,094     8   2.77      1,121    11   3.78
         Noninterest-bearing
          deposits               1,894                   2,060
    (2) Impact of FSD loans
        (primarily low-rate) on
        the following:
         Commercial loans                     (0.13) %                (0.21) %
         Total loans                          (0.08)                  (0.11)
         Net interest margin
          (FTE) (assuming
          loans were funded
          by noninterest-
          bearing deposits)                  (0.03)                  (0.04)



       ANALYSIS OF NET INTEREST INCOME (FTE)
       Comerica Incorporated and Subsidiaries

                                                  Three Months Ended
                                                    March 31, 2007
                                            Average                Average
    (dollar amounts in millions)            Balance    Interest     Rate

    Commercial loans (1) (2)                  $27,757      $499       7.30 %
    Real estate construction loans              4,249        91       8.66
    Commercial mortgage loans                   9,673       175       7.35
    Residential mortgage loans                  1,705        26       6.11
    Consumer loans                              2,405        43       7.14
    Lease financing                             1,273        10       3.18
    International loans                         1,834        32       7.07
    Business loan swap income (expense)             -       (24)         -
            Total loans (2)                    48,896       852       7.06

    Investment securities available-for-sale    3,745        42       4.35
    Federal funds sold and securities
     purchased under agreements to resell         276         4       5.39
    Other short-term investments                  231         4       6.79
            Total earning assets               53,148       902       6.86

    Cash and due from banks                     1,480
    Allowance for loan losses                    (503)
    Accrued income and other assets             2,963
            Total assets                      $57,088

    Money market and NOW deposits (1)         $14,749       111       3.05
    Savings deposits                            1,381         3       0.85
    Customer certificates of deposit            7,345        80       4.44
    Institutional certificates of deposit       5,823        78       5.44
    Foreign office time deposits                1,119        14       4.96
            Total interest-bearing
             deposits                          30,417       286       3.81

    Short-term borrowings                       1,655        22       5.32
    Medium- and long-term debt                  6,426        91       5.74
            Total interest-bearing
             sources                           38,498       399       4.20

    Noninterest-bearing deposits (1)           12,162
    Accrued expenses and other
     liabilities                                1,336
    Shareholders' equity                        5,092
            Total liabilities and
             shareholders' equity             $57,088

    Net interest income/rate spread (FTE)                  $503       2.66

    FTE adjustment                                           $1

    Impact of net noninterest-bearing
      sources of funds                                                1.16
    Net interest margin (as a percentage
      of average earning assets) (FTE)
       (2)                                                            3.82 %

    (1) FSD balances included above:
            Loans (primarily low-rate)         $1,569        $3       0.68 %
            Interest-bearing deposits           1,248        12       3.91
            Noninterest-bearing deposits        3,450
    (2) Impact of FSD loans (primarily
        low-rate) on the following:
            Commercial loans                                         (0.40)%
            Total loans                                              (0.22)
            Net interest margin (FTE)
             (assuming loans were
             funded by noninterest-
             bearing deposits)                                       (0.11)



        CONSOLIDATED STATISTICAL DATA
        Comerica Incorporated and Subsidiaries




    (in millions, except per       March   December September  June     March
     share data)                 31, 2008  31, 2007 30, 2007 30, 2007 31, 2007

    Commercial loans:
         Floor plan                $2,913   $2,878   $2,601   $3,012   $2,970
         Other                     26,562   25,345   24,791   24,134   23,711
           Total commercial loans  29,475   28,223   27,392   27,146   26,681
    Real estate construction
     loans:
         Commercial Real Estate
          business line             4,113    4,089    4,007    3,777    3,708
         Other business lines         656      727      752      736      754
           Total real estate
            construction loans      4,769    4,816    4,759    4,513    4,462
    Commercial mortgage loans:
         Commercial Real Estate
          business line             1,418    1,377    1,467    1,344    1,286
         Other business lines       8,941    8,671    8,527    8,384    8,306
           Total commercial
            mortgage loans         10,359   10,048    9,994    9,728    9,592
    Residential mortgage loans      1,926    1,915    1,892    1,839    1,741
    Consumer loans:
         Home equity                1,619    1,616    1,582    1,585    1,570
         Other consumer               829      848      815      736      822
           Total consumer loans     2,448    2,464    2,397    2,321    2,392
    Lease financing                 1,341    1,351    1,319    1,314    1,273
    International loans             2,034    1,926    1,843    1,904    1,848
           Total loans            $52,352  $50,743  $49,596  $48,765  $47,989

    Goodwill                         $150     $150     $150     $150     $150
    Loan servicing rights              12       12       13       13       14

    Tier 1 common capital ratio*     6.71%    6.85%    7.01%    7.18%    7.49%
    Tier 1 risk-based capital
     ratio*                          7.35     7.51     7.68     7.87     8.19
    Total risk-based capital
     ratio *                        11.00    11.20    11.44    11.71    12.15
    Leverage ratio*                  8.86     9.26     9.60     9.68    10.00

    Book value per share           $34.93   $34.12   $33.56   $32.74   $32.78

    Market value per share for
     the quarter:
         High                      $45.19   $54.88   $61.34   $63.89   $63.39
         Low                        34.51    39.62    50.26    58.18    56.77
         Close                      35.08    43.53    51.28    59.47    59.12

    Quarterly ratios:
         Return on average common
          shareholders' equity
          from continuing
          operations                 8.51%    9.20%   14.27%   15.44%   14.86%
         Return on average common
          shareholders' equity       8.42     9.35    14.41    15.44    14.89
         Return on average assets
          from continuing
          operations                 0.69     0.77     1.22     1.35     1.33
         Return on average assets    0.68     0.79     1.23     1.35     1.33
         Efficiency ratio           58.25    62.76    58.00    55.97    57.66

    Number of banking centers         420      417      403      402      402

    Number of employees - full
     time equivalent               10,643   10,782   10,683   10,687   10,661

    * March 31, 2008 ratios are estimated



      PARENT COMPANY ONLY BALANCE SHEETS
      Comerica Incorporated

                                             March 31,  December 31, March 31,
    (in millions, except share data)            2008        2007        2007

    ASSETS
    Cash and due from subsidiary bank           $119          $1          $-
    Short-term investments with
     subsidiary bank                             120         224         462
    Other short-term investments                 103         102          97
    Investment in subsidiaries,
     principally banks                         5,965       5,840       5,599
    Premises and equipment                         3           4           3
    Other assets                                 187         166         167
          Total assets                        $6,497      $6,337      $6,328

    LIABILITIES AND SHAREHOLDERS' EQUITY
    Medium- and long-term debt                  $981        $968        $956
    Other liabilities                            259         252         261
          Total liabilities                    1,240       1,220       1,217

    Common stock - $5 par value:
       Authorized - 325,000,000 shares
       Issued - 178,735,252 shares at
        3/31/08, 12/31/07, and 3/31/07           894         894         894
    Capital surplus                              565         564         524
    Accumulated other comprehensive loss         (67)       (177)       (284)
    Retained earnings                          5,496       5,497       5,302
    Less cost of common stock in treasury
     - 28,233,996 shares at 3/31/08,
     28,747,097 shares at 12/31/07 and
     22,834,368 shares at 3/31/07             (1,631)     (1,661)     (1,325)
          Total shareholders' equity           5,257       5,117       5,111
          Total liabilities and
           shareholders' equity               $6,497      $6,337      $6,328



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


                                             Accumulated
                                                Other                   Total
                           Common Stock       Comprehen-             Sharehol-
    (in millions, except    In          Capital sive  Retained Treasury  ders'
     per share data)      Shares Amount Surplus Loss  Earnings  Stock   Equity

    BALANCE AT JANUARY 1,
     2007                   157.6  $894  $520  $(324) $5,230  $(1,219) $5,101
    Net income                 -     -     -      -      190       -      190
    Other comprehensive
     income, net of tax        -     -     -      40      -        -       40
    Total comprehensive
     income                                                               230
    Cash dividends declared
     on common stock ($0.64
     per share)                -     -     -      -     (101)       -    (101)
    Purchase of common stock (3.5)   -     -      -        -     (208)   (208)
    Net issuance of common
     stock under employee
     stock plans              1.8    -    (20)    -      (17)     103      66
    Recognition of share-
     based compensation
     expense                   -     -     23     -       -        -       23
    Employee deferred
     compensation
     obligations               -     -      1     -       -        (1)      -
    BALANCE AT MARCH 31,
     2007                   155.9  $894  $524  $(284) $5,302  $(1,325) $5,111

    BALANCE AT JANUARY 1,
     2008                   150.0  $894  $564  $(177) $5,497  $(1,661) $5,117
    Net income                 -     -     -      -      109       -      109
    Other comprehensive
     income, net of tax        -     -     -     110      -        -      110
    Total comprehensive
     income                    -     -     -      -       -        -      219
    Cash dividends declared
     on common stock ($0.66
     per share)                -     -     -      -      (99)      -      (99)
    Net issuance of common
     stock under employee
     stock plans              0.5    -    (20)    -      (11)      31       -
    Recognition of share-
     based compensation
     expense                   -     -     20     -       -        -       20
    Employee deferred
     compensation
     obligations               -     -      1     -       -        (1)      -
    BALANCE AT MARCH 31,
     2008                   150.5  $894  $565   $(67) $5,496  $(1,631) $5,257



         BUSINESS SEGMENT FINANCIAL RESULTS
         Comerica Incorporated and Subsidiaries

                                                                 Wealth &
    (dollar amounts in millions)           Business    Retail  Institutional
    Three Months Ended March 31, 2008        Bank       Bank     Management

    Earnings summary:
    Net interest income (expense) (FTE)        $329       $148        $36
    Provision for loan losses                   147         17          -
    Noninterest income                           74         74         75
    Noninterest expenses                        176        143         79
    Provision (benefit) for income taxes
     (FTE)                                       18         22         12
    Loss from discontinued operations,
     net of tax                                   -          -          -
    Net income (loss)                           $62        $40        $20
    Net credit-related charge-offs              $99        $10         $1

    Selected average balances:
    Assets                                  $42,129     $7,144     $4,468
    Loans                                    41,219      6,276      4,315
    Deposits                                 15,878     17,162      2,637
    Liabilities                              16,687     17,170      2,646
    Attributed equity                         3,168        725        331

    Statistical data:
    Return on average assets (1)               0.59 %     0.89 %     1.79 %
    Return on average attributed equity        7.83      22.00      24.10
    Net interest margin (2)                    3.20       3.47       3.33
    Efficiency ratio                          44.05      70.99      70.95


    Three Months Ended March 31, 2008        Finance     Other      Total

    Earnings summary:
    Net interest income (expense) (FTE)        $(26)      $(10)       $477
    Provision for loan losses                     -         (5)        159
    Noninterest income                           18         (4)        237
    Noninterest expenses                          3          2         403
    Provision (benefit) for income taxes
     (FTE)                                       (8)        (2)         42
    Loss from discontinued operations,
     net of tax                                   -         (1)         (1)
    Net income (loss)                           $(3)      $(10)       $109
    Net credit-related charge-offs               $-         $-        $110

    Selected average balances:
    Assets                                   $8,644     $1,542     $63,927
    Loans                                         5         37      51,852
    Deposits                                  8,142        243      44,062
    Liabilities                              21,636        596      58,735
    Attributed equity                           902         66       5,192

    Statistical data:
    Return on average assets (1)                 N/M        N/M       0.68 %
    Return on average attributed equity          N/M        N/M       8.42
    Net interest margin (2)                      N/M        N/M       3.22
    Efficiency ratio                             N/M        N/M      58.25



                                                                  Wealth &
                                           Business      Retail Institutional
    Three Months Ended December 31, 2007      Bank        Bank    Management

    Earnings summary:
    Net interest income (expense) (FTE)        $330       $161        $36
    Provision for loan losses                    88         26          1
    Noninterest income                           80         55         72
    Noninterest expenses                        186        182         86
    Provision (benefit) for income taxes
     (FTE)                                       43          3          8
    Income from discontinued operations,
     net of tax                                   -          -          -
    Net income (loss)                           $93         $5        $13
    Net credit-related charge-offs              $50        $14         $-

    Selected average balances:
    Assets                                  $41,327     $6,998     $4,321
    Loans                                    40,285      6,229      4,146
    Deposits                                 15,931     17,254      2,552
    Liabilities                              16,765     17,266      2,561
    Attributed equity                         3,073        872        353

    Statistical data:
    Return on average assets (1)               0.89 %     0.11 %     1.21 %
    Return on average attributed equity       12.02       2.33      14.88
    Net interest margin (2)                    3.25       3.69       3.43
    Efficiency ratio                          45.54      84.52      79.55



    Three Months Ended December 31, 2007      Finance     Other      Total

    Earnings summary:
    Net interest income (expense) (FTE)        $(30)       $(8)       $489
    Provision for loan losses                     -         (7)        108
    Noninterest income                           16          7         230
    Noninterest expenses                          3         (7)        450
    Provision (benefit) for income taxes
     (FTE)                                       (9)        (1)         44
    Income from discontinued operations,
     net of tax                                   -          2           2
    Net income (loss)                           $(8)       $16        $119
    Net credit-related charge-offs               $-         $-         $64

    Selected average balances:
    Assets                                   $6,785     $1,076     $60,507
    Loans                                         5         34      50,699
    Deposits                                  6,622          8      42,367
    Liabilities                              18,472        356      55,420
    Attributed equity                           724         65       5,087

    Statistical data:
    Return on average assets (1)                 N/M        N/M       0.79 %
    Return on average attributed equity          N/M        N/M       9.35
    Net interest margin (2)                      N/M        N/M       3.43
    Efficiency ratio                             N/M        N/M      62.76


                                                                   Wealth &
                                            Business     Retail Institutional
    Three Months Ended March 31, 2007         Bank        Bank    Management

    Earnings summary:
    Net interest income (expense) (FTE)        $337       $170        $37
    Provision for loan losses                    14          5         (1)
    Noninterest income                           61         52         71
    Noninterest expenses                        170        153         76
    Provision (benefit) for income taxes
     (FTE)                                       68         22         12
    Income from discontinued operations,
     net of tax                                   -          -          -
    Net income (loss)                          $146        $42        $21
    Net credit-related charge-offs              $14         $5         $-

    Selected average balances:
    Assets                                  $40,059     $6,840     $3,898
    Loans                                    39,015      6,095      3,747
    Deposits                                 16,711     17,032      2,317
    Liabilities                              17,565     17,045      2,317
    Attributed equity                         2,850        835        312

    Statistical data:
    Return on average assets (1)               1.45 %     0.93 %     2.19 %
    Return on average attributed equity       20.45      19.99      27.36
    Net interest margin (2)                    3.50       4.04       3.92
    Efficiency ratio                          42.72      68.84      70.52


    Three Months Ended March 31, 2007         Finance     Other      Total

    Earnings summary:
    Net interest income (expense) (FTE)        $(38)       $(3)       $503
    Provision for loan losses                     -          5          23
    Noninterest income                           16          3         203
    Noninterest expenses                          2          6         407
    Provision (benefit) for income taxes
     (FTE)                                      (12)        (3)         87
    Income from discontinued operations,
     net of tax                                   -          1           1
    Net income (loss)                          $(12)       $(7)       $190
    Net credit-related charge-offs               $-         $-         $19

    Selected average balances:
    Assets                                   $5,015     $1,276     $57,088
    Loans                                        17         22      48,896
    Deposits                                  6,490         29      42,579
    Liabilities                              14,600        469      51,996
    Attributed equity                           574        521       5,092

    Statistical data:
    Return on average assets (1)                 N/M        N/M       1.33 %
    Return on average attributed equity          N/M        N/M      14.89
    Net interest margin (2)                      N/M        N/M       3.82
    Efficiency ratio                             N/M        N/M      57.66

    (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



         MARKET SEGMENT FINANCIAL RESULTS
         Comerica Incorporated and Subsidiaries

    (dollar amounts in millions)
    Three Months Ended March 31, 2008    Midwest   Western   Texas   Florida

    Earnings summary:
    Net interest income (expense) (FTE)     $205      $172      $74      $11
    Provision for loan losses                 20       114        8       12
    Noninterest income                       136        33       24        5
    Noninterest expenses                     186       108       58       10
    Provision (benefit) for income taxes
     (FTE)                                    48        (7)      12       (2)
    Income from discontinued operations,
     net of tax                                -         -        -        -
    Net income (loss)                        $87      $(10)     $20      $(4)
    Net credit-related charge-offs           $28       $66       $5      $10

    Selected average balances:
    Assets                               $19,656   $17,263   $7,932   $1,891
    Loans                                 19,030    16,882    7,642    1,877
    Deposits                              16,127    12,848    4,005      362
    Liabilities                           16,814    12,849    4,022      358
    Attributed equity                      1,663     1,270      619      125

    Statistical data:
    Return on average assets (1)            1.76 %   (0.23)%   1.00 %  (0.76)%
    Return on average attributed equity    20.83     (3.19)   12.88   (11.57)
    Net interest margin (2)                 4.30      4.07     3.83     2.55
    Efficiency ratio                       57.48     52.99    61.28    61.24


                                                            Finance
                                          Other    Inter-   & Other
    Three Months Ended March 31, 2008    Markets  national Businesses   Total
    Earnings summary:
    Net interest income (expense) (FTE)      $36      $15      $(36)    $477
    Provision for loan losses                 13       (3)       (5)     159
    Noninterest income                        17        8        14      237
    Noninterest expenses                      26       10         5      403
    Provision (benefit) for income taxes
     (FTE)                                    (5)       6       (10)      42
    Income from discontinued operations,
     net of tax                                -        -        (1)      (1)
    Net income (loss)                        $19      $10      $(13)    $109
    Net credit-related charge-offs            $-       $1        $-     $110

    Selected average balances:
    Assets                                $4,633   $2,366   $10,186  $63,927
    Loans                                  4,140    2,239        42   51,852
    Deposits                               1,534      801     8,385   44,062
    Liabilities                            1,643      817    22,232   58,735
    Attributed equity                        384      163       968    5,192

    Statistical data:
    Return on average assets (1)            1.61 %   1.76 %     N/M     0.68 %
    Return on average attributed equity    19.47    25.50       N/M     8.42
    Net interest margin (2)                 3.42     2.69       N/M     3.22
    Efficiency ratio                       50.41    44.09       N/M    58.25



    Three Months Ended December 31, 2007  Midwest   Western   Texas   Florida
    Earnings summary:
    Net interest income (expense) (FTE)     $212      $178      $74      $11
    Provision for loan losses                 21        92        7        5
    Noninterest income                       120        35       23        4
    Noninterest expenses                     218       121       67       11
    Provision (benefit) for income taxes
     (FTE)                                    34         2        9        -
    Income from discontinued operations,
     net of tax                                -         -        -        -
    Net income (loss)                        $59       $(2)     $14      $(1)
    Net credit-related charge-offs           $37       $23       $3       $-

    Selected average balances:
    Assets                               $19,228   $17,137   $7,677   $1,732
    Loans                                 18,601    16,615    7,381    1,719
    Deposits                              16,117    13,012    3,935      299
    Liabilities                           16,797    13,044    3,953      297
    Attributed equity                      1,766     1,264      634      112

    Statistical data:
    Return on average assets (1)            1.23 %   (0.06)%   0.73 %  (0.21)%
    Return on average attributed equity    13.41     (0.81)    8.79    (3.29)
    Net interest margin (2)                 4.50      4.24     3.95     2.67
    Efficiency ratio                       65.81     56.97    69.30    73.50


                                                             Finance
                                           Other    Inter-   & Other
    Three Months Ended December 31, 2007  Markets  national Businesses Total
    Earnings summary:
    Net interest income (expense) (FTE)      $36      $16     $(38)    $489
    Provision for loan losses                 (7)      (3)      (7)     108
    Noninterest income                        16        9       23      230
    Noninterest expenses                      26       11       (4)     450
    Provision (benefit) for income taxes
     (FTE)                                     3        6      (10)      44
    Income from discontinued operations,
     net of tax                                -        -        2        2
    Net income (loss)                        $30      $11       $8     $119
    Net credit-related charge-offs            $1       $-       $-      $64

    Selected average balances:
    Assets                                $4,591   $2,281   $7,861  $60,507
    Loans                                  4,192    2,152       39   50,699
    Deposits                               1,495      879    6,630   42,367
    Liabilities                            1,613      888   18,828   55,420
    Attributed equity                        369      153      789    5,087

    Statistical data:
    Return on average assets (1)            2.64 %   1.87 %    N/M     0.79 %
    Return on average attributed equity    32.83    27.81      N/M     9.35
    Net interest margin (2)                 3.40     2.80      N/M     3.43
    Efficiency ratio                       49.17    47.13      N/M    62.76



    Three Months Ended March 31, 2007    Midwest   Western   Texas   Florida
    Earnings summary:
    Net interest income (expense) (FTE)     $227      $188      $69      $11
    Provision for loan losses                 27       (12)       -        1
    Noninterest income                       115        27       19        4
    Noninterest expenses                     194       111       53        9
    Provision (benefit) for income taxes
     (FTE)                                    42        43       12        2
    Income from discontinued operations,
     net of tax                                -         -        -        -
    Net income (loss)                        $79       $73      $23       $3
    Net credit-related charge-offs
     (recoveries)                            $21       $(5)      $3       $-

    Selected average balances:
    Assets                               $19,180   $16,782   $6,719   $1,646
    Loans                                 18,614    16,241    6,444    1,626
    Deposits                              15,868    13,696    3,843      284
    Liabilities                           16,520    13,733    3,858      288
    Attributed equity                      1,712     1,177      556       87

    Statistical data:
    Return on average assets (1)            1.64 %    1.74 %   1.38 %   0.76 %
    Return on average attributed equity    18.37     24.80    16.65    14.35
    Net interest margin (2)                 4.93      4.69     4.31     2.80
    Efficiency ratio                       56.78     51.32    60.84    60.63


                                                            Finance
                                          Other    Inter-   & Other
    Three Months Ended March 31, 2007     Markets national Businesses  Total
    Earnings summary:
    Net interest income (expense) (FTE)      $32      $17     $(41)    $503
    Provision for loan losses                  2        -        5       23
    Noninterest income                        11        8       19      203
    Noninterest expenses                      21       11        8      407
    Provision (benefit) for income taxes
     (FTE)                                    (2)       5      (15)      87
    Income from discontinued operations,
     net of tax                                -        -        1        1
    Net income (loss)                        $22       $9     $(19)    $190
    Net credit-related charge-offs
     (recoveries)                             $-       $-       $-      $19

    Selected average balances:
    Assets                                $4,288   $2,182   $6,291  $57,088
    Loans                                  3,873    2,059       39   48,896
    Deposits                               1,271    1,098    6,519   42,579
    Liabilities                            1,391    1,137   15,069   51,996
    Attributed equity                        300      165    1,095    5,092

    Statistical data:
    Return on average assets (1)            2.02 %   1.69 %    N/M     1.33 %
    Return on average attributed equity    28.93    22.41      N/M    14.89
    Net interest margin (2)                 3.27     3.23      N/M     3.82
    Efficiency ratio                       49.23    41.93      N/M    57.66

    (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

Conference Call and Webcast

Comerica will host a conference call to review first quarter 2008 financial results at 7 a.m. CDT on Thursday, April 17, 2008. Interested parties may access the conference call by calling (800) 309-2262 or (706) 679-5261 (event ID No. 39966204). 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 May 1, 2008. The conference call replay can be accessed by calling (800) 642-1687 or (706) 645-9291 (event ID No. 39966204). A replay of the Webcast can also be accessed on the Internet via Comerica's "Investor Relations" page at www.comerica.com .

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

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, changes in customer borrowing, repayment, investment and deposit practices, 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, the automotive production industry and the real estate business lines, 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, political or industry 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.

SOURCE Comerica Incorporated

CONTACT:
Media, Wayne J. Mielke, +1-214-462-4463,
or Investors, Darlene P. Persons, +1-313-222-2840,
or Paul Jaremski, +1-214-969-6476,
all of Comerica Incorporated

Web site: http://www.comerica.com
(CMA)

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Press releases, archived webcasts/presentations/conference calls, and SEC filings speak only to the date they are issued, made or filed, respectively. Investors should not rely on such information as being unchanged in making investment decisions.

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