BancorpSouth, Inc. Declares Quarterly Dividend

At its regular quarterly meeting on July 16, 2003, the Board of Directors of BancorpSouth, Inc. declared a quarterly cash dividend of $0.16 per common share. The dividend is payable October 1, 2003, to shareholders of record at the close of business on September 15, 2003.

BancorpSouth previously reported net income of $29.2 million or $0.37 per diluted share for the second quarter of 2003. Net income for the six months ended June 30, 2003 was $68.4 million or $0.88 per diluted share.

BancorpSouth, Inc., with total assets of approximately $10.6 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