CFB Capital IV Pays Dividend on Cumulative Capital Securities

CFB Capital IV Pays Dividend on Cumulative Capital Securities



FARGO, N.D., July 21  /PRNewswire-FirstCall/ -- Community First Bankshares,
Inc., (NASDAQ:CFBX) announced that CFB Capital IV (NASDAQ:CFBXM), a wholly
owned statutory trust, will pay a regular quarterly dividend of 47.5 cents per
Capital Security on August 15, 2004, to security holders of record as of August
14, 2004.

There are 2,400,000 Capital Securities outstanding.

Community First Bankshares, a $5.5 billion financial services company, provides
a complete line of banking, investment, insurance, mortgage and trust products
to individuals and businesses. The company's extensive offering of financial
products and services is marketed through full-service offices in 138
communities in 12 states-Arizona, California, Colorado, Iowa, Minnesota,
Nebraska, New Mexico, North Dakota, South Dakota, Utah, Wisconsin and Wyoming.
The company's services include an online banking system that offers electronic
bill payment and discount brokerage capabilities, telephone banking and an
extensive ATM network. Community First Bankshares stock is traded on The Nasdaq
Stock Market(R) under the symbol CFBX. The latest investor and other corporate
information is available at its Web site, http://www.communityfirst.com/ .

This press release contains forward-looking statements under the Private
Securities Litigation Reform Act of 1995 that are subject to certain risks and
uncertainties that could cause actual results to differ materially from
historical earnings and those presently anticipated or projected. The company
wishes to caution readers not to place undue reliance on any such forward-
looking statements, which speak only as of the date made. Factors that could
cause actual results to differ from the results discussed in the forward-
looking statements include, but are not limited to:  risk of loans and
investments, including dependence on local economic conditions; competition for
the company's customers from other providers of financial services; possible
adverse effects of changes in interest rates; execution and implementation of a
series of previously announced strategic initiatives; balance sheet and capital
ratio risks related to the share repurchase program; risks related to the
company's acquisition and market extension strategy, including risks of
adversely changing results of operations and factors affecting the company's
ability to consummate further acquisitions or extend its markets; and other
risks detailed in the company's filings with the Securities and Exchange
Commission, all of which are difficult to predict and many of which are beyond
the control of the company. 

DATASOURCE: Community First Bankshares Inc.



CONTACT:  Jeff Wilhoit of Financial Relations Board, [phone],

 , or Mark A. Anderson of Community First

Bankshares, Inc., [phone],  



Web site:  http://www.communityfirst.com/ 

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