Exhibit 99.1

***FOR IMMEDIATE RELEASE***

FOR: ZIONS BANCORPORATION
One South Main, Suite 1134
Salt Lake City, Utah
Harris H. Simmons
Chairman/Chief Executive Officer Contact: Clark Hinckley
Tel: (801) 524-4787
January 20, 2004

ZIONS BANCORPORATION BOARD AUTHORIZES STOCK BUYBACK
AND DECLARES REGULAR QUARTERLY DIVIDEND

SALT LAKE CITY, January 20, 2004 – Zions Bancorporation (Nasdaq: ZION) announced today that at a regular meeting of its board of directors, the board authorized the company to repurchase $50 million of company stock. This supercedes all previous buyback authorizations made by the board.

The board also declared a regular quarterly dividend of $0.30 per common share payable February 25, 2004 to shareholders of record on February 11, 2004.

Investor information about Zions Bancorporation can be accessed on the Internet at www.zionsbancorporation.com. The Company’s common shares are traded on The Nasdaq Stock Market under the symbol “ZION.”

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