BancorpSouth, Inc. Declares Quarterly Dividend

At their regular quarterly meeting on April 23, 2003, the Board of Directors of BancorpSouth, Inc. declared a quarterly cash dividend of $0.16 per common share. The dividend is payable July 1, 2003 to shareholders of record at the close of business on June 13, 2003.

BancorpSouth previously reported net income of $39.1 million or $0.50 per diluted share for the first quarter of 2003.

BancorpSouth, Inc., with total assets of approximately $10.3 billion, operates banking, insurance and financial service offices in Alabama, Arkansas, Mississippi, Tennessee, Texas and Louisiana.

SOURCE: BancorpSouth, Inc.

CONTACT: L. Nash Allen, Jr., +1-662-680-2330, or Gary C. Bonds,
+1-662-680-2332, both of BancorpSouth, Inc.