Exhibit 99.1

COMERICA REPORTS THIRD QUARTER 2008 EARNINGS

Core Operating Earnings Stable

Provision for Credit Losses, Net Charge-Offs Unchanged

Loan Optimization Program Producing Desired Results

DALLAS/October 17, 2008 — Comerica Incorporated (NYSE: CMA) today reported third quarter 2008 income from continuing operations of $27 million, or $0.18 per diluted share, compared to $56 million, or $0.37 per diluted share, for the second quarter 2008 and $180 million, or $1.17 per diluted share, for the third quarter 2007. Third quarter 2008 included a $174 million provision for credit losses, compared to $177 million for the second quarter 2008 and $45 million for the third quarter 2007. During the third quarter 2008, Comerica recognized a pre-tax charge of $96 million ($61 million after-tax, or $0.40 per diluted share), recorded in “litigation and operational losses,” related to a previously announced offer to repurchase (at par) auction-rate securities (ARS) from customers. In addition, third quarter 2008 net income reflected a $27 million pre-tax gain ($17 million after-tax, or $0.11 per diluted share) related to the sale of shares in Visa, Inc. (Visa) and net after-tax charges of $7 million ($0.04 per diluted share) which included settlements with the Internal Revenue Service on disallowed foreign tax credits related to a series of loans to foreign borrowers and both the net interest income impact and tax-related interest on certain structured leasing transactions, as well as other adjustments to tax reserves.

(dollar amounts in millions, except per share data)	3rd Qtr ’08			2nd Qtr ’08			3rd Qtr ’07
Net interest income	$	466	*	$	442	*	$	503
Provision for loan losses		165			170			45
Noninterest income		240			242			230
Noninterest expenses		514			423			423
Income from continuing operations, net of tax		27			56			180
Net income		28			56			181
Diluted EPS from continuing operations		0.18			0.37			1.17
Return on average common shareholders’ equity from continuing operations		2.12	%		4.26	%		14.27	%
Tier 1 capital ratio		7.35	**		7.45			7.68
Net interest margin		3.11	*		2.91	*		3.66

*

Third quarter 2008 and second quarter 2008 net interest income declined $8 million and $30 million, respectively, and the net interest margin declined six basis points and 19 basis points, respectively, due to tax-related non-cash lease income charges. Excluding these charges, the net interest margin would have been 3.17 percent in the third quarter 2008 and 3.10 percent in the second quarter 2008.

**

September 30, 2008, ratio is estimated.

The following table illustrates the after-tax impact of certain items on income from continuing operations.

	3rd Qtr ’08						2nd Qtr ’08
(dollar amounts in millions, except per share data)	Amount			Per Share			Amount			Per Share
Gains on sales of Visa and MasterCard shares	$	17		$	0.11		$	9		$	0.06
Offer to repurchase ARS		(61	)		(0.40	)		—			—
Tax-related non-cash charges to lease income		(6	)		(0.04	)		(19	)		(0.13	)
Other tax-related items		(1	)		—			(13	)		(0.08	)

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COMERICA REPORTS THIRD QUARTER 2008 EARNINGS — 2

“In an economic environment that is as challenging and volatile as any we have ever seen, Comerica’s core operating earnings remained stable compared to the prior two quarters,” said Ralph W. Babb Jr., chairman and chief executive officer. “As expected, net credit-related charge-offs and the provision for loan losses were unchanged.

“In this uncertain environment, we are taking actions to improve our capital ratios and enhance our balance sheet strength, including a previously announced intention to reduce our dividend and the execution of a loan optimization program, which is working and producing the desired results. Maintaining a solid capital position is prudent and provides us the flexibility to navigate these swift economic currents and continue to invest in our growth markets.”

Third Quarter 2008 Compared to Second Quarter 2008

• In response to Comerica’s loan optimization plan, average loans declined seven percent on an annualized basis, with declines of five percent in the Texas market, three percent in the Midwest market and 13 percent in the Western market.

• On an annualized basis, average noninterest-bearing deposits, excluding Financial Services Division (FSD) deposits, increased 13 percent.

• September 30, 2008, core deposits, excluding the Financial Services Division, increased $273 million compared to June 30, 2008, due to increases in noninterest-bearing deposits and customer certificates of deposit.

• The net interest margin was 3.11 percent in the third quarter 2008, or 3.17 percent excluding the charge to interest income on certain structured lease transactions.

• Net credit-related charge-offs were $116 million, or 90 basis points as a percent of average total loans, for the third quarter 2008, compared to $113 million, or 86 basis points as a percent of average total loans, for the second quarter 2008. The provision for loan losses was $165 million for the third quarter 2008, compared to $170 million for the second quarter 2008, and the period-end allowance to total loans ratio increased to 1.38 percent from 1.28 percent at June 30, 2008.

• Excluding net securities gains, noninterest income decreased $15 million, primarily the result of a $10 million decrease in deferred compensation asset returns (which is offset by a decrease in deferred compensation plan costs in noninterest expenses).

• Noninterest expenses increased $91 million from the second quarter, due to the $96 million charge related to the offer to repurchase ARS, partially offset by a decrease in deferred compensation plan costs ($10 million).

• The estimated Tier 1 common and Tier 1 capital ratios were 6.69 and 7.35 percent, respectively, both within the targeted ranges. The $96 million ($61 million, after-tax) ARS charge and related commitment to repurchase reduced the estimated Tier 1 common and Tier 1 capital ratios by 21 basis points and 22 basis points, respectively.

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COMERICA REPORTS THIRD QUARTER 2008 EARNINGS — 3

Net Interest Income and Net Interest Margin

(dollar amounts in millions)	3rd Qtr ’08			2nd Qtr ’08			3rd Qtr ’07
Net interest income	$	466	*	$	442	*	$	503
Net interest margin		3.11	%*		2.91	%*		3.66	%
Selected average balances:
Total earning assets	$	59,946		$	61,088		$	54,641
Total investment securities		8,146			8,296			4,405
Total loans		51,508			52,367			49,874
Total core deposits**, excluding FSD		31,439			32,058			31,141
Total noninterest-bearing deposits		10,646			10,648			10,840
Total noninterest-bearing deposits, excluding FSD		9,104			8,825			8,265

*

Third quarter 2008 and second quarter 2008 net interest income declined $8 million and $30 million, respectively, and the net interest margin declined six basis points and 19 basis points, respectively, due to tax-related non-cash lease income charges. Excluding these charges, the net interest margin would have been 3.17 percent in the third quarter 2008 and 3.10 percent in the second quarter 2008.

**

Core deposits exclude institutional certificates of deposit and foreign office time deposits.

• The $24 million increase in net interest income in the third quarter 2008, when compared to second quarter 2008, resulted primarily from the second quarter $30 million non-cash charge to lease income, partially offset by the third quarter $8 million non-cash charge to lease income.

• The net interest margin of 3.11 percent increased seven basis points, after excluding the tax-related non-cash lease income charges of 19 basis points in the second quarter 2008 and six basis points in the third quarter 2008, due to improved loan spreads and lower deposit rates.

• September 30, 2008, core deposits, excluding the Financial Services Division, increased $273 million compared to June 30, 2008, due to increases in noninterest-bearing deposits and customer certificates of deposit.

• Total average Financial Services Division deposits decreased $368 million from the second quarter 2008 and $1.3 billion from the third quarter 2007. This division serves title and escrow companies that facilitate residential mortgage transactions and benefits from customer deposits related to mortgage escrow balances. Deposits declined due to cooling of the California housing market, combined with destabilization of the mortgage market.

Noninterest Income

Noninterest income was $240 million for the third quarter 2008, compared to $242 million for the second quarter 2008 and $230 million for the third quarter 2007. Net securities gains in noninterest income included a $27 million gain on the sale of Comerica’s remaining ownership of Visa shares in the third quarter 2008 and a $14 million gain on the sale of MasterCard shares in the second quarter 2008. In addition, deferred compensation asset returns decreased $10 million in the third quarter 2008, when compared to the second quarter 2008 (which is offset by a decrease in deferred compensation plan costs in noninterest expenses). Certain categories of noninterest income are highlighted in the table below.

(in millions)	3rd Qtr ’08			2nd Qtr ’08			3rd Qtr ’07
Net securities gains	$	27		$	14		$	4
Other noninterest income
Net income (loss) from principal investing and warrants		1			(3	)		11
Deferred compensation asset returns*		(6	)		4			(2	)

* Compensation deferred by Comerica officers is invested in stocks and bonds to reflect the investment selections of the officers. Income (loss) earned on these assets is reported in noninterest income and the offsetting increase (decrease) in the liability is reported in salaries expense.

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COMERICA REPORTS THIRD QUARTER 2008 EARNINGS — 4

Noninterest Expenses

Noninterest expenses were $514 million for the third quarter 2008, compared to $423 million for both the second quarter 2008 and third quarter 2007. The $91 million increase in noninterest expenses in the third quarter 2008, compared to the second quarter 2008, reflected the $96 million charge related to the offer to repurchase ARS (included in “litigation and operational losses”), partially offset by a decrease in deferred compensation plan costs ($10 million). The ARS repurchases from customers will be completed in the fourth quarter 2008. Certain categories of noninterest expenses are highlighted in the table below.

	3rd Qtr ’08			2nd Qtr ’08		3rd Qtr ’07
Salaries
Regular salaries	$	155		$	151	$	162
Severance		2			1		—
Incentives		31			35		35
Deferred compensation plan costs		(6	)		4		(2	)
Share-based compensation		10			11		12
Total salaries		192			202		207
Employee benefits		46			48		49
Customer services		2			3		11
Litigation and operational losses		105	*		3		6
Provision for credit losses on lending-related commitments		9			7		—
Other noninterest expenses
FDIC insurance		6			2		1

* Third quarter 2008 litigation and operational losses included a $96 million charge related to an offer to repurchase auction-rate securities from customers.

Tax-related Items

The third quarter 2008 provision for income taxes reflected net after-tax charges of $1 million which included the acceptance of a global settlement offered by the Internal Revenue Service (IRS) on certain structured leasing transactions, settlement with the IRS on disallowed foreign tax credits related to a series of loans to foreign borrowers and other adjustments to tax reserves. The second quarter 2008 provision for income taxes reflected an after-tax charge of $13 million related to the structured leasing transactions. The reassessment of the size and timing of tax deductions related to the leasing transactions also resulted in the $8 million ($6 million after-tax) and $30 million ($19 million after-tax) respective charges to lease income in the third and second quarters of 2008 previously discussed.

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COMERICA REPORTS THIRD QUARTER 2008 EARNINGS — 5

Credit Quality

“Net charge-offs related to Western market residential real estate development were lower than the two previous quarters, reflecting our aggressive management of this portfolio,” said Babb. “As expected, we are seeing softness in small business and middle market, which is consistent with our outlook.”

• The allowance to loan ratio increased to 1.38 percent at September 30, 2008, from 1.28 percent at June 30, 2008.

• The provision for loan losses and loan quality reflected continuing challenges in residential real estate development located in the Western market (primarily California) and the economies in all major markets.

• Net credit-related charge-offs in the Commercial Real Estate business line in the third quarter 2008 were $57 million, of which $39 million were from residential real estate developers in the Western market. Comparable numbers for the second quarter 2008 were $73 million in total, of which $56 million were from residential real estate developers in the Western market.

• Net loan charge-offs, excluding the Commercial Real Estate business line, were $59 million in the third quarter 2008, or 52 basis points of average non-Commercial Real Estate loans, compared to $40 million, or 35 basis points, in the second quarter 2008.

• Nonperforming assets increased to 1.71 percent of total loans and foreclosed property for the third quarter 2008. During the third quarter 2008, $280 million of loan relationships greater than $2 million were transferred to nonaccrual status, a decrease of $24 million from the second quarter 2008. Of the transfers of loan relationships greater than $2 million to nonaccrual in the third quarter 2008, $145 million were in the Commercial Real Estate business line, a decrease of $43 million from the second quarter 2008.

(dollar amounts in millions)	3rd Qtr ’08			2nd Qtr ’08			3rd Qtr ’07
Net loan charge-offs	$	116		$	112		$	40
Net lending-related commitment charge-offs		—			1			—
Total net credit-related charge-offs		116			113			40
Net loan charge-offs/Average total loans		0.90	%		0.86	%		0.32	%
Net credit-related charge-offs/Average total loans		0.90			0.86			0.32
Provision for loan losses	$	165		$	170		$	45
Provision for credit losses on lending-related commitments		9			7			—
Total provision for credit losses		174			177			45
Nonperforming loans		863			731			272
Nonperforming assets (NPAs)		881			748			291
NPAs/Total loans and foreclosed property		1.71	%		1.44	%		0.59	%
Allowance for loan losses	$	712		$	663		$	512
Allowance for credit losses on lending-related commitments*		40			31			19
Total allowance for credit losses		752			694			531
Allowance for loan losses/Total loans		1.38	%		1.28	%		1.03	%
Allowance for loan losses/Nonperforming loans		82			91			176

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

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COMERICA REPORTS THIRD QUARTER 2008 EARNINGS — 6

Balance Sheet and Capital Management

Total assets and common shareholders’ equity were $65.2 billion and $5.1 billion, respectively, at September 30, 2008, compared to $66.0 billion and $5.1 billion, respectively, at June 30, 2008. There were approximately 150 million shares outstanding at September 30, 2008. No shares were repurchased in the open market in the first nine months of 2008.

Comerica’s third quarter 2008 estimated Tier 1 common, Tier 1 and total risk-based capital ratios were 6.69 percent, 7.35 percent and 11.22 percent, respectively. The $96 million ($61 million, after-tax) ARS charge and related commitment to repurchase reduced the estimated Tier 1 common, Tier 1 and total capital ratios by 21 basis points, 22 basis points and 29 basis points, respectively.

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

• Low to mid single-digit full-year average loan growth, with loans declining in the fourth quarter 2008.

• Mortgage-backed FNMA and FHLMC securities (AAA-rated) averaging about $8 billion for the fourth quarter 2008. In addition, about $1.4 billion of ARS will be repurchased during the fourth quarter 2008.

• Average full-year net interest margin about 3.05 percent (3.10 percent excluding the second and third quarter lease income charges), with a net interest margin of about 3.00 percent in the fourth quarter 2008. The fourth quarter net interest margin reflects the three basis point negative impact of ARS repurchases and the 50 basis point reduction in the federal funds rate announced October 8, 2008. This full-year net interest margin reflects a five basis point decline from the previous outlook.

• Full-year net credit-related charge-offs of about $450 million. The provision for credit losses is expected to exceed net charge-offs.

• Mid single-digit growth in noninterest income.

• Low single-digit increase in noninterest expenses (low single-digit decrease excluding the charge related to the offer to repurchase ARS).

• Effective tax rate of about 27 percent for the full year, with a rate of about 20 percent for the fourth quarter 2008.

• Maintain a Tier 1 capital ratio within a target range of 7.25 to 8.25 percent.

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COMERICA REPORTS THIRD QUARTER 2008 EARNINGS — 7

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 the Corporation and methodologies in effect at September 30, 2008 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses third quarter 2008 results compared to second quarter 2008.

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

(dollar amounts in millions)	3rd Qtr ’08					2nd Qtr ’08					3rd Qtr ’07
Business Bank	$	65		186	%	$	57		73	%	$	137		70	%
Retail Bank		21		57			7		9			39		20
Wealth & Institutional Management		(51	)	(143	)		14		18			20		10
		35		100	%		78		100	%		196		100	%
Finance		(2	)				(5	)				(8	)
Other*		(5	)				(17	)				(7	)
Total	$	28				$	56				$	181

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

Business Bank

(dollar amounts in millions)	3rd Qtr ’08			2nd Qtr ’08			3rd Qtr ’07
Net interest income (FTE)	$	323		$	296		$	337
Provision for loan losses		135			123			43
Noninterest income		75			92			82
Noninterest expenses		175			185			177
Net income		65			57			137
Net credit-related charge-offs		95			96			30
Selected average balances:
Assets		41,357			42,335			40,796
Loans		40,506			41,510			39,745
FSD loans		401			469			1,191
Deposits		14,933			15,384			15,947
FSD deposits		2,449			2,817			3,789
Net interest margin		3.17	%		2.85	%		3.36	%

• Average loans decreased $1.0 billion, led by declines in National Dealer Services and Middle Market.

• Average deposits, excluding the Financial Services Division, decreased $83 million, primarily due to Technology and Life Sciences and smaller declines in other businesses, partially offset by an increase in Global Corporate. Financial Services Division deposits decreased $368 million.

• The net interest margin was impacted by non-cash charges to lease income in both the third and second quarter 2008. Excluding these charges, the net interest margin increased 10 basis points from increased loan spreads and decreases in lower-spread money market accounts and certificates of deposit.

• The provision for loan losses increased $12 million, primarily in Global Corporate, Technology and Life Sciences and Specialty Businesses, partially offset by a decline in Commercial Real Estate.

• Noninterest income decreased $17 million, mostly due to a second quarter 2008 gain on the sale of MasterCard shares of $14 million.

• Noninterest expenses decreased $10 million, partially due to lower salaries and employee benefits.

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COMERICA REPORTS THIRD QUARTER 2008 EARNINGS — 8

Retail Bank

(dollar amounts in millions)	3rd Qtr ’08			2nd Qtr ’08			3rd Qtr ’07
Net interest income (FTE)	$	142		$	146		$	169
Provision for loan losses		33			29			7
Noninterest income		80			54			56
Noninterest expenses		161			161			160
Net income		21			7			39
Net credit-related charge-offs		17			14			9
Selected average balances:
Assets		7,046			7,100			6,854
Loans		6,362			6,348			6,111
Deposits		16,596			17,043			17,145
Net interest margin		3.40	%		3.44	%		3.91	%

• Average loans increased $14 million, or one percent on an annualized basis.

• Average deposits decreased $447 million, primarily due to decreases in money market investment accounts and customer certificates of deposit.

• The net interest margin of 3.40 percent declined four basis points, primarily due to a decline in loan and deposit spreads.

• The provision for loan losses increased $4 million due to Small Business.

• Noninterest income increased $26 million, due to a third quarter 2008 gain of $27 million on the sale of Visa shares.

• Eight new banking centers were opened in the third quarter 2008 (six in the Western market).

Wealth and Institutional Management

(dollar amounts in millions)	3rd Qtr ’08			2nd Qtr ’08			3rd Qtr ’07
Net interest income (FTE)	$	37		$	37		$	37
Provision for loan losses		7			5			(5	)
Noninterest income		71			74			70
Noninterest expenses		180			83			81
Net income		(51	)		14			20
Net credit-related charge-offs		4			3			1
Selected average balances:
Assets		4,759			4,646			4,152
Loans		4,624			4,502			3,990
Deposits		2,351			2,493			2,378
Net interest margin		3.17	%		3.28	%		3.59	%

• Average loans increased $122 million, or 11 percent on an annualized basis.

• Average deposits decreased $142 million, primarily due to declines in money market investment account balances, interest-bearing transaction deposit accounts and customer certificates of deposit.

• The net interest margin of 3.17 percent declined 11 basis points, primarily due to a decline in deposit spreads.

• Noninterest expenses increased $97 million, due to the $96 million charge related to the offer to repurchase auction-rate securities from customers.

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COMERICA REPORTS THIRD QUARTER 2008 EARNINGS — 9

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 September 30, 2008 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses third quarter 2008 results compared to second quarter 2008.

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

(dollar amounts in millions)	3rd Qtr ’08					2nd Qtr ’08					3rd Qtr ’07
Midwest	$	51		144	%	$	52		68	%	$	79		40	%
Western		9		25			(20	)	(26	)		55		28
Texas		13		36			17		21			27		14
Florida		(1	)	(3	)		(1	)	(2	)		2		1
Other Markets		(44	)*	(123	)		23		29			18		9
International		7		21			7		10			15		8
		35		100	%		78		100	%		196		100	%
Finance & Other Businesses**		(7	)				(22	)				(15	)
Total	$	28				$	56				$	181

*	Third quarter 2008 included a $96 million charge ($61 million, after-tax) related to an offer to repurchase auction-rate securities from customers.
**	Includes discontinued operations and items not directly associated with the geographic markets.

Midwest

(dollar amounts in millions)	3rd Qtr ’08			2nd Qtr ’08			3rd Qtr ’07
Net interest income (FTE)	$	197		$	172		$	222
Provision for loan losses		52			24			15
Noninterest income		142			136			119
Noninterest expenses		205			205			206
Net income		51			52			79
Net credit-related charge-offs		44			42			23
Selected average balances:
Assets		19,820			19,891			19,131
Loans		19,125			19,255			18,526
Deposits		15,926			16,056			15,636
Net interest margin		4.08	%		3.58	%		4.73	%

• Average loans decreased $130 million, led by declines in Middle Market and National Dealer, partially offset by growth in Global Corporate.

• Average deposits decreased $130 million, primarily due to a decrease in Personal Banking, partially offset by an increase in Global Corporate.

• The net interest margin was impacted by non-cash charges to lease income in both the third and second quarter 2008. Excluding these charges, the net interest margin increased seven basis points due to an increase in loan spreads.

• The provision for loan losses increased $28 million due to Commercial Real Estate and Global Corporate.

• Noninterest income increased $6 million and included $22 million of the third quarter 2008 gain on the sale of Visa shares, partially offset by a second quarter 2008 gain of $14 million on the sale of MasterCard shares.

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COMERICA REPORTS THIRD QUARTER 2008 EARNINGS — 10

Western Market

(dollar amounts in millions)	3rd Qtr ’08			2nd Qtr ’08			3rd Qtr ’07
Net interest income (FTE)	$	169		$	171		$	185
Provision for loan losses		82			113			23
Noninterest income		38			34			36
Noninterest expenses		112			115			110
Net income (loss)		9			(20	)		55
Net credit-related charge-offs		51			59			7
Selected average balances:
Assets		16,627			17,241			17,095
Loans		16,381			16,918			16,543
FSD loans		401			469			1,191
Deposits		11,729			12,345			13,009
FSD deposits		2,255			2,611			3,607
Net interest margin		4.09	%		4.04	%		4.43	%

• Average loans decreased $537 million, due to declines in the National Dealer Services, Middle Market and Commercial Real Estate lines of businesses.

• Average deposits, excluding the Financial Services Division, decreased $260 million, primarily due to decreases in Private Banking and Middle Market. Financial Services Division deposits decreased $356 million.

• The net interest margin of 4.09 percent increased five basis points, primarily due to a decrease in low-rate loans in the Financial Services Division and decreases in lower-spread money market accounts and certificates of deposit.

• The provision for loan losses decreased $31 million, primarily due to Commercial Real Estate, partially offset by increases in Technology and Life Sciences and Small Business.

• Noninterest income increased $4 million, primarily due to an increase in principal investing and warrant income.

• Six new banking centers were opened in the third quarter 2008.

Texas Market

(dollar amounts in millions)	3rd Qtr ’08			2nd Qtr ’08			3rd Qtr ’07
Net interest income (FTE)	$	73		$	74		$	73
Provision for loan losses		18			6			(2	)
Noninterest income		27			22			24
Noninterest expenses		61			63			58
Net income		13			17			27
Total net credit-related charge-offs		9			3			1
Selected average balances:
Assets		7,945			8,063			7,172
Loans		7,691			7,795			6,902
Deposits		3,956			4,061			3,920
Net interest margin		3.75	%		3.78	%		4.17	%

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COMERICA REPORTS THIRD QUARTER 2008 EARNINGS — 11

• Average loans decreased $104 million, primarily due to declines in Energy Lending and National Dealer Services, partially offset by growth in Commercial Real Estate.

• Average deposits decreased $105 million, primarily due to declines in Personal Banking and Technology and Life Sciences.

• The net interest margin of 3.75 percent decreased three basis points, primarily due a decline in deposit balances and deposit spreads.

• The provision for loan losses increased $12 million, primarily in Energy Lending.

• Noninterest income increased $5 million and included $4 million of the third quarter 2008 gain on the sale of Visa shares.

• One new banking center opened in the third quarter 2008.

Florida Market

(dollar amounts in millions)	3rd Qtr ’08			2nd Qtr ’08			3rd Qtr ’07
Net interest income (FTE)	$	12		$	12		$	12
Provision for loan losses		7			7			3
Noninterest income		4			4			4
Noninterest expenses		10			11			10
Net income (loss)		(1	)		(1	)		2
Net credit-related charge-offs		3			8			1
Selected average balances:
Assets		1,900			1,854			1,706
Loans		1,900			1,851			1,692
Deposits		262			306			271
Net interest margin		2.53	%		2.50	%		2.94	%

• Average loans increased $49 million, primarily due to growth in Private Banking, Commercial Real Estate and Middle Market, partially offset by a decrease in National Dealer Services.

• Average deposits decreased $44 million due to a decline in Private Banking and balance transfers in Global Corporate from Florida to Other Markets.

• One new banking center opened in the third quarter 2008.

Conference Call and Webcast

Comerica will host a conference call to review third quarter 2008 financial results at 7 a.m. CDT Friday, October 17, 2008. Interested parties may access the conference call by calling (800) 309-2262 or (706) 679-5261 (event ID No. 65151410). 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 through October 31, 2008. The conference call replay can be accessed by calling (800) 642-1687 or (706) 645-9291 (event ID No. 65151410). A replay of the Webcast can also be accessed 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.

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COMERICA REPORTS THIRD QUARTER 2008 EARNINGS — 12

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 further economic downturns, changes in the pace of an economic recovery and related changes in employment levels, changes in real estate values, fuel prices, energy costs or other events that could affect customer income levels or general economic conditions, 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, fires, droughts 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, the interdependence of financial service companies and adverse conditions in the stock market. Comerica cautions that the foregoing list of factors is not exclusive. For discussion of these and other factors that may cause actual results to differ from expectations, please refer to our filings with the Securities and Exchange Commission. 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.

Media Contact:	Investor Contacts:
Wayne J. Mielke	Darlene P. Persons
(214) 462-4463	(214) 462-6831
	Walter Galloway
	(214) 462-6834

CONSOLIDATED FINANCIAL HIGHLIGHTS

Comerica Incorporated and Subsidiaries

	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,
(in millions, except per share data)	2008			2008			2007			2008			2007
PER SHARE AND COMMON STOCK DATA
Diluted income from continuing operations	$	0.18		$	0.37		$	1.17		$	1.28		$	3.61
Diluted net income		0.19			0.37			1.18			1.28			3.63
Cash dividends declared		0.66			0.66			0.64			1.98			1.92
Common shareholders’ equity (at period end)		33.89			33.78			33.56
Average diluted shares (in thousands)		150,795			150,819			153,096			150,783			156,202
KEY RATIOS
Return on average common shareholders’ equity from continuing operations		2.12	%		4.26	%		14.27	%		4.98	%		14.86	%
Return on average common shareholders’ equity		2.25			4.25			14.41			5.00			14.92
Return on average assets from continuing operations		0.17			0.34			1.22			0.40			1.30
Return on average assets		0.18			0.33			1.23			0.40			1.30
Average common shareholders’ equity as a percentage of average assets		7.82			7.87			8.57			7.94			8.74
Tier 1 common capital ratio *		6.69			6.79			7.01
Tier 1 risk-based capital ratio *		7.35			7.45			7.68
Total risk-based capital ratio *		11.22			11.21			11.44
Leverage ratio *		8.59			8.53			9.60
AVERAGE BALANCES
Commercial loans	$	28,521		$	29,280		$	28,052		$	28,992		$	28,046
Real estate construction loans		4,675			4,843			4,607			4,776			4,454
Commercial mortgage loans		10,511			10,374			9,829			10,343			9,713
Residential mortgage loans		1,870			1,906			1,865			1,898			1,788
Consumer loans		2,599			2,549			2,320			2,532			2,351
Lease financing		1,365			1,352			1,319			1,354			1,293
International loans		1,967			2,063			1,882			2,013			1,880
Total loans		51,508			52,367			49,874			51,908			49,525
Earning assets		59,946			61,088			54,641			60,183			54,036
Total assets		64,863			65,963			58,546			64,917			57,923
Interest-bearing deposits		29,267			33,116			30,276			31,931			30,247
Total interest-bearing liabilities		47,560			48,483			41,406			47,612			40,031
Noninterest-bearing deposits		10,646			10,648			10,840			10,638			11,540
Common shareholders’ equity		5,075			5,193			5,015			5,153			5,065
NET INTEREST INCOME
Net interest income (fully taxable equivalent basis)**	$	467		$	443		$	504		$	1,387		$	1,517
Fully taxable equivalent adjustment		1			1			1			3			3
Net interest margin**		3.11	%		2.91	%		3.66	%		3.08	%		3.75	%
CREDIT QUALITY
Nonaccrual loans	$	863		$	731		$	272
Reduced-rate loans		—			—			—
Total nonperforming loans		863			731			272
Foreclosed property		18			17			19
Total nonperforming assets		881			748			291
Loans past due 90 days or more and still accruing		97			112			63
Gross loan charge-offs		122			118			47		$	356		$	124
Loan recoveries		6			6			7			18			38
Net loan charge-offs		116			112			40			338			86
Lending-related commitment charge-offs		—			1			—			1			3
Total net credit-related charge-offs		116			113			40			339			89
Allowance for loan losses		712			663			512
Allowance for credit losses on lending-related commitments		40			31			19
Total allowance for credit losses		752			694			531
Allowance for loan losses as a percentage of total loans		1.38	%		1.28	%		1.03	%
Net loan charge-offs as a percentage of average total loans		0.90			0.86			0.32			0.87	%		0.23	%
Net credit-related charge-offs as a percentage of average total loans		0.90			0.86			0.32			0.87			0.24
Nonperforming assets as a percentage of total loans and foreclosed property		1.71			1.44			0.59
Allowance for loan losses as a percentage of total nonperforming loans		82			91			188

*	September 30, 2008 ratios are estimated
**	Third quarter 2008 and second quarter 2008 net interest income declined $8 million and $30 million, respectively, due to tax-related non-cash lease income charges. Excluding these charges, the net interest margin would have been 3.17% and 3.10% for the three-month periods ended September 30, 2008, and June 30, 2008, respectively, and 3.16% for the nine-month period ended September 30, 2008.

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CONSOLIDATED BALANCE SHEETS

Comerica Incorporated and Subsidiaries

	September 30,			June 30,			December 31,			September 30,
(in millions, except share data)	2008			2008			2007			2007
ASSETS
Cash and due from banks	$	1,404		$	1,698		$	1,440		$	1,271
Federal funds sold and securities purchased under agreements to resell		3			77			36			129
Other short-term investments		247			249			373			293
Investment securities available-for-sale		8,158			8,243			6,296			4,942
Commercial loans		28,604			28,763			28,223			27,392
Real estate construction loans		4,565			4,684			4,816			4,759
Commercial mortgage loans		10,588			10,504			10,048			9,994
Residential mortgage loans		1,863			1,879			1,915			1,892
Consumer loans		2,644			2,594			2,464			2,397
Lease financing		1,360			1,351			1,351			1,319
International loans		1,931			1,976			1,926			1,843
Total loans		51,555			51,751			50,743			49,596
Less allowance for loan losses		(712	)		(663	)		(557	)		(512	)
Net loans		50,843			51,088			50,186			49,084
Premises and equipment		668			674			650			635
Customers’ liability on acceptances outstanding		21			15			48			39
Accrued income and other assets		3,809			3,959			3,302			3,629
Total assets	$	65,153		$	66,003		$	62,331		$	60,022
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing deposits	$	12,094		$	11,860		$	11,920		$	11,290
Money market and NOW deposits		13,553			14,506			15,261			14,814
Savings deposits		1,279			1,391			1,325			1,402
Customer certificates of deposit		8,147			7,746			8,357			8,010
Institutional certificates of deposit		3,670			5,940			6,147			5,049
Foreign office time deposits		802			879			1,268			1,355
Total interest-bearing deposits		27,451			30,462			32,358			30,630
Total deposits		39,545			42,322			44,278			41,920
Short-term borrowings		3,625			4,075			2,807			2,813
Acceptances outstanding		21			15			48			39
Accrued expenses and other liabilities		1,486			1,651			1,260			1,276
Medium- and long-term debt		15,376			12,858			8,821			8,906
Total liabilities		60,053			60,921			57,214			54,954
Common stock — $5 par value:
Authorized — 325,000,000 shares
Issued — 178,735,252 shares at 9/30/08, 6/30/08, 12/31/07 and 9/30/07		894			894			894			894
Capital surplus		586			576			564			551
Accumulated other comprehensive loss		(129	)		(207	)		(177	)		(238	)
Retained earnings		5,379			5,451			5,497			5,475
Less cost of common stock in treasury — 28,249,360 shares at 9/30/08, 28,281,490 shares at 6/30/08, 28,747,097 shares at 12/31/07 and 27,725,572 shares at 9/30/07		(1,630	)		(1,632	)		(1,661	)		(1,614	)
Total shareholders’ equity		5,100			5,082			5,117			5,068
Total liabilities and shareholders’ equity	$	65,153		$	66,003		$	62,331		$	60,022

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CONSOLIDATED STATEMENTS OF INCOME

Comerica Incorporated and Subsidiaries

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions, except per share data)	2008		2007		2008		2007
INTEREST INCOME
Interest and fees on loans	$	634	$	895	$	2,037	$	2,628
Interest on investment securities		99		52		288		140
Interest on short-term investments		2		5		10		18
Total interest income		735		952		2,335		2,786
INTEREST EXPENSE
Interest on deposits		141		294		576		864
Interest on short-term borrowings		30		29		78		75
Interest on medium- and long-term debt		98		126		297		333
Total interest expense		269		449		951		1,272
Net interest income		466		503		1,384		1,514
Provision for loan losses		165		45		494		104
Net interest income after provision for loan losses		301		458		890		1,410
NONINTEREST INCOME
Service charges on deposit accounts		57		55		174		164
Fiduciary income		49		49		152		147
Commercial lending fees		17		19		53		52
Letter of credit fees		19		16		52		47
Foreign exchange income		11		11		33		30
Brokerage fees		10		11		30		32
Card fees		15		14		45		40
Bank-owned life insurance		11		8		29		27
Net securities gains		27		4		63		4
Net gain on sales of businesses		—		—		—		3
Other noninterest income		24		43		88		112
Total noninterest income		240		230		719		658
NONINTEREST EXPENSES
Salaries		192		207		594		628
Employee benefits		46		49		141		145
Total salaries and employee benefits		238		256		735		773
Net occupancy expense		40		34		114		102
Equipment expense		15		15		46		45
Outside processing fee expense		26		23		77		67
Software expense		18		16		57		46
Customer services		2		11		11		36
Litigation and operational losses		105		6		100		—
Provision for credit losses on lending-related commitments		9		—		20		(4	)
Other noninterest expenses		61		62		180		176
Total noninterest expenses		514		423		1,340		1,241
Income from continuing operations before income taxes		27		265		269		827
Provision for income taxes		—		85		76		262
Income from continuing operations		27		180		193		565
Income (loss) from discontinued operations, net of tax		1		1		—		2
NET INCOME	$	28	$	181	$	193	$	567
Basic earnings per common share:
Income from continuing operations	$	0.18	$	1.18	$	1.29	$	3.67
Net income		0.19		1.20		1.29		3.69
Diluted earnings per common share:
Income from continuing operations		0.18		1.17		1.28		3.61
Net income		0.19		1.18		1.28		3.63
Cash dividends declared on common stock		99		97		298		296
Dividends per common share		0.66		0.64		1.98		1.92

-15-

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME

Comerica Incorporated and Subsidiaries

	Third		Second		First			Fouth		Third		Third Quarter 2008 Compared To:
	Quarter		Quarter		Quarter			Quarter		Quarter		Second Quarter 2008						Third Quarter 2007
(in millions, except per share data)	2008		2008		2008			2007		2007		Amount			Percent			Amount			Percent
INTEREST INCOME
Interest and fees on loans	$	634	$	633	$	770		$	873	$	895	$	1			—	%	$	(261	)		(29	)%
Interest on investment securities		99		101		88			66		52		(2	)		(1	)		47			92
Interest on short-term investments		2		3		5			5		5		(1	)		(32	)		(3	)		(53	)
Total interest income		735		737		863			944		952		(2	)		—			(217	)		(23	)
INTEREST EXPENSE
Interest on deposits		141		182		253			303		294		(41	)		(22	)		(153	)		(52	)
Interest on short-term borrowings		30		19		29			30		29		11			55			1			1
Interest on medium- and long-term debt		98		94		105			122		126		4			4			(28	)		(22	)
Total interest expense		269		295		387			455		449		(26	)		(9	)		(180	)		(40	)
Net interest income		466		442		476			489		503		24			6			(37	)		(7	)
Provision for loan losses		165		170		159			108		45		(5	)		(3	)		120			N/M
Net interest income after provision for loan losses		301		272		317			381		458		29			11			(157	)		(34	)
NONINTEREST INCOME
Service charges on deposit accounts		57		59		58			57		55		(2	)		(1	)		2			4
Fiduciary income		49		51		52			52		49		(2	)		(2	)		—			1
Commercial lending fees		17		20		16			23		19		(3	)		(16	)		(2	)		(9	)
Letter of credit fees		19		18		15			16		16		1			2			3			18
Foreign exchange income		11		12		10			10		11		(1	)		(13	)		—			2
Brokerage fees		10		10		10			11		11		—			(3	)		(1	)		(13	)
Card fees		15		16		14			14		14		(1	)		(9	)		1			7
Bank-owned life insurance		11		8		10			9		8		3			31			3			30
Net securities gains		27		14		22			3		4		13			87			23			N/M
Other noninterest income		24		34		30			35		43		(10	)		(28	)		(19	)		(44	)
Total noninterest income		240		242		237			230		230		(2	)		(1	)		10			4
NONINTEREST EXPENSES
Salaries		192		202		200			216		207		(10	)		(5	)		(15	)		(7	)
Employee benefits		46		48		47			48		49		(2	)		(2	)		(3	)		(5	)
Total salaries and employee benefits		238		250		247			264		256		(12	)		(5	)		(18	)		(7	)
Net occupancy expense		40		36		38			36		34		4			9			6			15
Equipment expense		15		16		15			15		15		(1	)		(4	)		—			(2	)
Outside processing fee expense		26		28		23			24		23		(2	)		(8	)		3			10
Software expense		18		20		19			17		16		(2	)		(5	)		2			16
Customer services		2		3		6			7		11		(1	)		(1	)		(9	)		(74	)
Litigation and operational losses (recoveries)		105		3		(8	)		18		6		102			N/M			99			N/M
Provision for credit losses on lending-related commitments		9		7		4			3		—		2			38			9			N/M
Other noninterest expenses		61		60		59			66		62		1			1			(1	)		(3	)
Total noninterest expenses		514		423		403			450		423		91			22			91			21
Income from continuing operations before income taxes		27		91		151			161		265		(64	)		(70	)		(238	)		(90	)
Provision for income taxes		—		35		41			44		85		(35	)		N/M			(85	)		N/M
Income from continuing operations		27		56		110			117		180		(29	)		(51	)		(153	)		(85	)
Income (loss) from discontinued operations, net of tax		1		—		(1	)		2		1		1			N/M			—			N/M
NET INCOME	$	28	$	56	$	109		$	119	$	181	$	(28	)		(48	)%	$	(153	)		(84	)%
Basic earnings per common share:
Income from continuing operations	$	0.18	$	0.37	$	0.74		$	0.78	$	1.18	$	(0.19	)		(51	)%	$	(1.00	)		(85	)%
Net income		0.19		0.37		0.73			0.80		1.20		(0.18	)		(49	)		(1.01	)		(84	)
Diluted earnings per common share:
Income from continuing operations		0.18		0.37		0.73			0.77		1.17		(0.19	)		(51	)		(0.99	)		(85	)
Net income		0.19		0.37		0.73			0.79		1.18		(0.18	)		(49	)		(0.99	)		(84	)
Cash dividends declared on common stock		99		100		99			97		97		(1	)		—			2			3
Dividends per common share		0.66		0.66		0.66			0.64		0.64		—			—			0.02			3

N/M — Not meaningful

-16-

ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES

Comerica Incorporated and Subsidiaries

	2008									2007
(in millions)	3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr
Balance at beginning of period	$	663		$	605		$	557		$	512		$	507
Loan charge-offs:
Commercial		48			36			33			27			30
Real estate construction:
Commercial Real Estate business line		40			57			52			24			6
Other business lines		—			—			1			1			2
Total real estate construction		40			57			53			25			8
Commercial mortgage:
Commercial Real Estate business line		17			14			20			7			2
Other business lines		11			7			2			9			4
Total commercial mortgage		28			21			22			16			6
Residential mortgage		1			1			—			—			—
Consumer		5			3			7			4			3
Lease financing		—			—			—			—			—
International		—			—			1			—			—
Total loan charge-offs		122			118			116			72			47
Recoveries on loans previously charged-off:
Commercial		3			5			3			7			5
Real estate construction		1			—			1			—			—
Commercial mortgage		—			1			1			1			1
Residential mortgage		—			—			—			—			—
Consumer		1			—			1			1			1
Lease financing		1			—			—			—			—
International		—			—			—			—			—
Total recoveries		6			6			6			9			7
Net loan charge-offs		116			112			110			63			40
Provision for loan losses		165			170			159			108			45
Foreign currency translation adjustment		—			—			(1	)		—			—
Balance at end of period	$	712		$	663		$	605		$	557		$	512
Allowance for loan losses as a percentage of total loans		1.38	%		1.28	%		1.16	%		1.10	%		1.03	%
Net loan charge-offs as a percentage of average total loans		0.90			0.86			0.85			0.50			0.32
Net credit-related charge-offs as a percentage of average total loans		0.90			0.86			0.85			0.50			0.32

ANALYSIS OF THE ALLOWANCE FOR CREDIT LOSSES ON LENDING-RELATED COMMITMENTS

Comerica Incorporated and Subsidiaries

	2008						2007
(in millions)	3rd Qtr		2nd Qtr		1st Qtr		4th Qtr		3rd Qtr
Balance at beginning of period	$	31	$	25	$	21	$	19	$	19
Less: Charge-offs on lending-related commitments (1)		—		1		—		1		—
Add: Provision for credit losses on lending-related commitments		9		7		4		3		—
Balance at end of period	$	40	$	31	$	25	$	21	$	19
Unfunded lending-related commitments sold	$	—	$	2	$	3	$	22	$	—

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

-17-

NONPERFORMING ASSETS

Comerica Incorporated and Subsidiaries

	2008									2007
(in millions)	3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr
SUMMARY OF NONPERFORMING ASSETS AND PAST DUE LOANS
Nonaccrual loans:
Commercial	$	206		$	155		$	87		$	75		$	64
Real estate construction:
Commercial Real Estate business line		386			322			271			161			55
Other business lines		5			4			4			6			4
Total real estate construction		391			326			275			167			59
Commercial mortgage:
Commercial Real Estate business line		137			143			105			66			63
Other business lines		114			95			64			75			77
Total commercial mortgage		251			238			169			141			140
Residential mortgage		8			4			1			1			1
Consumer		4			5			3			3			4
Lease financing		—			—			—			—			—
International		3			3			3			4			4
Total nonaccrual loans		863			731			538			391			272
Reduced-rate loans		—			—			—			13			—
Total nonperforming loans		863			731			538			404			272
Foreclosed property		18			17			22			19			19
Total nonperforming assets	$	881		$	748		$	560		$	423		$	291
Nonperforming loans as a percentage of total loans		1.67	%		1.41	%		1.03	%		0.80	%		0.55	%
Nonperforming assets as a percentage of total loans and foreclosed property		1.71			1.44			1.07			0.83			0.59
Allowance for loan losses as a percentage of total nonperforming loans		82			91			112			138			188
Loans past due 90 days or more and still accruing	$	97		$	112		$	80		$	54		$	56
ANALYSIS OF NONACCRUAL LOANS
Nonaccrual loans at beginning of period	$	731		$	538		$	391		$	272		$	244
Loans transferred to nonaccrual (1)		280			304			281			185			94
Nonaccrual business loan gross charge-offs (2)		(116	)		(113	)		(108	)		(68	)		(44	)
Loans transferred to accrual status (1)		—			—			—			—			(5	)
Nonaccrual business loans sold (3)		(19	)		—			(15	)		—			(11	)
Payments/Other (4)		(13	)		2			(11	)		2			(6	)
Nonaccrual loans at end of period	$	863		$	731		$	538		$	391		$	272
(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	$	116		$	113		$	108		$	68		$	44
Performing watch list loans		—			1			1			—			—
Consumer and residential mortgage loans		6			4			7			4			3
Total gross loan charge-offs	$	122		$	118		$	116		$	72		$	47
(3) Analysis of loans sold:
Nonaccrual business loans	$	19		$	—		$	15		$	—		$	11
Performing watch list loans		3			7			6			13			—
Total loans sold	$	22		$	7		$	21		$	13		$	11
(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.

-18-

ANALYSIS OF NET INTEREST INCOME (FTE)

Comerica Incorporated and Subsidiaries

	Nine Months Ended
	September 30, 2008									September 30, 2007
	Average						Average			Average						Average
(dollar amounts in millions)	Balance			Interest			Rate			Balance			Interest			Rate
Commercial loans (1) (2)	$	28,992		$	1,135			5.23	%	$	28,046		$	1,538			7.33	%
Real estate construction loans		4,776			184			5.16			4,454			282			8.47
Commercial mortgage loans		10,343			442			5.71			9,713			534			7.35
Residential mortgage loans		1,898			85			5.99			1,788			82			6.12
Consumer loans		2,532			100			5.29			2,351			125			7.12
Lease financing (3)		1,354			(4	)		N/M			1,293			32			3.26
International loans		2,013			79			5.24			1,880			99			7.07
Business loan swap income (expense)		—			19			—			—			(61	)		—
Total loans (2)		51,908			2,040			5.25			49,525			2,631			7.10
Investment securities available-for-sale		7,889			288			4.88			4,080			140			4.47
Federal funds sold and securities purchased under agreements to resell		100			2			2.40			189			8			5.36
Other short-term investments		286			8			3.93			242			10			5.73
Total earning assets		60,183			2,338			5.19			54,036			2,789			6.89
Cash and due from banks		1,228									1,390
Allowance for loan losses		(661	)								(513	)
Accrued income and other assets		4,167									3,010
Total assets	$	64,917								$	57,923
Money market and NOW deposits (1)	$	14,774			170			1.54		$	14,858			344			3.09
Savings deposits		1,371			5			0.50			1,393			9			0.91
Customer certificates of deposit		8,003			200			3.35			7,505			250			4.46
Institutional certificates of deposit		6,719			176			3.49			5,490			224			5.45
Foreign office time deposits		1,064			25			3.09			1,001			37			4.92
Total interest-bearing deposits		31,931			576			2.41			30,247			864			3.82
Short-term borrowings		4,084			78			2.54			1,919			75			5.24
Medium- and long-term debt		11,597			297			3.42			7,865			333			5.65
Total interest-bearing sources		47,612			951			2.67			40,031			1,272			4.25
Noninterest-bearing deposits (1)		10,638									11,540
Accrued expenses and other liabilities		1,514									1,287
Shareholders’ equity		5,153									5,065
Total liabilities and shareholders’ equity	$	64,917								$	57,923
Net interest income/rate spread (FTE)				$	1,387			2.52					$	1,517			2.64
FTE adjustment				$	3								$	3
Impact of net noninterest-bearing sources of funds								0.56									1.11
Net interest margin (as a percentage of average earning assets) (FTE) (2) (3)								3.08	%								3.75	%
N/M — Not meaningful
(1) FSD balances included above:
Loans (primarily low-rate)	$	557		$	6			1.36	%	$	1,445		$	7			0.63	%
Interest-bearing deposits		998			16			2.11			1,230			36			3.95
Noninterest-bearing deposits		1,752									3,097
(2) Impact of FSD loans (primarily low-rate) on the following:
Commercial loans								(0.07	)%								(0.36	)%
Total loans								(0.04	)								(0.20	)
Net interest margin (FTE) (assuming loans were funded by noninterest-bearing deposits)								(0.02	)								(0.09	)
(3) Year-to-date 2008 net interest income declined $38 million and the net interest margin declined eight basis points due to tax-related non-cash lease income charges. Excluding these charges, the net interest margin would have been 3.16%.

-19-

ANALYSIS OF NET INTEREST INCOME (FTE)

Comerica Incorporated and Subsidiaries

	Three Months Ended
	September 30, 2008								June 30, 2008									September 30, 2007
	Average					Average			Average						Average			Average						Average
(dollar amounts in millions)	Balance			Interest		Rate			Balance			Interest			Rate			Balance			Interest			Rate
Commercial loans (1) (2)	$	28,521		$	347		4.85	%	$	29,280		$	357			4.90	%	$	28,052		$	520			7.37	%
Real estate construction loans		4,675			55		4.65			4,843			59			4.89			4,607			97			8.33
Commercial mortgage loans		10,511			142		5.38			10,374			141			5.47			9,829			181			7.30
Residential mortgage loans		1,870			28		5.92			1,906			29			6.03			1,865			29			6.12
Consumer loans		2,599			31		4.83			2,549			32			5.06			2,320			41			7.06
Lease financing (3)		1,365			4		1.07			1,352			(19	)		N/M			1,319			11			3.25
International loans		1,967			24		4.85			2,063			25			4.86			1,882			33			6.98
Business loan swap income (expense)		—			4		—			—			10			—			—			(16	)		—
Total loans (2)		51,508			635		4.91			52,367			634			4.87			49,874			896			7.13
Investment securities available-for-sale		8,146			99		4.85			8,296			101			4.89			4,405			52			4.60
Federal funds sold and securities purchased under agreements to resell		70			—		1.87			150			1			2.17			99			1			5.25
Other short-term investments		222			2		3.49			275			2			3.73			263			4			5.27
Total earning assets		59,946			736		4.89			61,088			738			4.86			54,641			953			6.91
Cash and due from banks		1,228								1,217									1,351
Allowance for loan losses		(723	)							(664	)								(521	)
Accrued income and other assets		4,412								4,322									3,075
Total assets	$	64,863							$	65,963								$	58,546
Money market and NOW deposits (1)	$	14,204			45		1.26		$	14,784			46			1.26		$	14,996			119			3.14
Savings deposits		1,350			1		0.42			1,405			2			0.45			1,380			3			0.97
Customer certificates of deposit		7,690			53		2.73			8,037			64			3.20			7,702			87			4.48
Institutional certificates of deposit		5,209			37		2.81			7,707			61			3.21			5,170			72			5.49
Foreign office time deposits		814			5		2.51			1,183			8			2.77			1,028			13			4.96
Total interest-bearing deposits		29,267			141		1.92			33,116			181			2.20			30,276			294			3.85
Short-term borrowings		5,413			30		2.20			3,326			19			2.33			2,278			29			5.15
Medium- and long-term debt		12,880			98		3.02			12,041			95			3.15			8,852			126			5.61
Total interest-bearing sources		47,560			269		2.25			48,483			295			2.45			41,406			449			4.29
Noninterest-bearing deposits (1)		10,646								10,648									10,840
Accrued expenses and other liabilities		1,582								1,639									1,285
Shareholders’ equity		5,075								5,193									5,015
Total liabilities and shareholders’ equity	$	64,863							$	65,963								$	58,546
Net interest income/rate spread (FTE)				$	467		2.64					$	443			2.41					$	504			2.62
FTE adjustment				$	1							$	1								$	1
Impact of net noninterest-bearing sources of funds							0.47									0.50									1.04
Net interest margin (as a percentage of average earning assets) (FTE) (2) (3)							3.11	%								2.91	%								3.66	%
N/M — Not meaningful
(1) FSD balances included above:
Loans (primarily low-rate)	$	401		$	2		1.74	%	$	469		$	2			1.42	%	$	1,191		$	2			0.71	%
Interest-bearing deposits		907			4		1.65			994			4			1.81			1,214			12			4.06
Noninterest-bearing deposits		1,542								1,823									2,575
(2) Impact of FSD loans (primarily low-rate) on the following:
Commercial loans							(0.05	)%								(0.06	)%								(0.30	)%
Total loans							(0.02	)								(0.03	)								(0.16	)
Net interest margin (FTE) (assuming loans were funded by noninterest-bearing deposits)							(0.01	)								(0.01	)								(0.07	)
(3) Third quarter 2008 and second quarter 2008 net interest income declined $8 million and $30 million, respectively, and the net interest margin declined six basis points and 19 basis points, respectively, due to tax-related non-cash lease income charges. Excluding these charges, the net interest margin would have been 3.17% in the third quarter 2008 and 3.10% in the second quarter 2008.

-20-

CONSOLIDATED STATISTICAL DATA

Comerica Incorporated and Subsidiaries

	September 30,			June 30,			March 31,			December 31,			September 30,
(in millions, except per share data)	2008			2008			2008			2007			2007
Commercial loans:
Floor plan	$	2,151		$	2,645		$	2,913		$	2,878		$	2,601
Other		26,453			26,118			26,562			25,345			24,791
Total commercial loans		28,604			28,763			29,475			28,223			27,392
Real estate construction loans:
Commercial Real Estate business line		3,937			4,013			3,990			4,089			4,007
Other business lines		628			671			656			727			752
Total real estate construction loans		4,565			4,684			4,646			4,816			4,759
Commercial mortgage loans:
Commercial Real Estate business line		1,668			1,620			1,541			1,377			1,467
Other business lines		8,920			8,884			8,941			8,671			8,527
Total commercial mortgage loans		10,588			10,504			10,482			10,048			9,994
Residential mortgage loans		1,863			1,879			1,926			1,915			1,892
Consumer loans:
Home equity		1,693			1,649			1,619			1,616			1,582
Other consumer		951			945			829			848			815
Total consumer loans		2,644			2,594			2,448			2,464			2,397
Lease financing		1,360			1,351			1,341			1,351			1,319
International loans		1,931			1,976			2,034			1,926			1,843
Total loans	$	51,555		$	51,751		$	52,352		$	50,743		$	49,596
Goodwill	$	150		$	150		$	150		$	150		$	150
Loan servicing rights		12			12			12			12			13
Tier 1 common capital ratio*		6.69	%		6.79	%		6.75	%		6.85	%		7.01	%
Tier 1 risk-based capital ratio*		7.35			7.45			7.40			7.51			7.68
Total risk-based capital ratio *		11.22			11.21			11.06			11.20			11.44
Leverage ratio*		8.59			8.53			8.82			9.26			9.60
Book value per share	$	33.89		$	33.78		$	34.93		$	34.12		$	33.56
Market value per share for the quarter:
High	$	54.00		$	40.62		$	45.19		$	54.88		$	61.34
Low		19.31			25.61			34.51			39.62			50.26
Close		32.79			25.63			35.08			43.53			51.28
Quarterly ratios:
Return on average common shareholders’ equity from continuing operations		2.12	%		4.26	%		8.51	%		9.20	%		14.27	%
Return on average common shareholders’ equity		2.25			4.25			8.42			9.35			14.41
Return on average assets from continuing operations		0.17			0.34			0.69			0.77			1.22
Return on average assets		0.18			0.33			0.68			0.79			1.23
Efficiency ratio		75.53			63.02			58.25			62.76			58.00
Number of banking centers		424			416			420			417			403
Number of employees — full time equivalent		10,347			10,530			10,643			10,782			10,683

* September 30, 2008 ratios are estimated

-21-

PARENT COMPANY ONLY BALANCE SHEETS

Comerica Incorporated

	September 30,			December 31,			September 30,
(in millions, except share data)	2008			2007			2007
ASSETS
Cash and due from subsidiary bank	$	16		$	1		$	5
Short-term investments with subsidiary bank		158			224			222
Other short-term investments		99			102			101
Investment in subsidiaries, principally banks		5,849			5,840			5,799
Premises and equipment		5			4			4
Other assets		163			166			152
Total assets	$	6,290		$	6,337		$	6,283
LIABILITIES AND SHAREHOLDERS’ EQUITY
Medium- and long-term debt	$	969		$	968		$	956
Other liabilities		221			252			259
Total liabilities		1,190			1,220			1,215
Common stock — $5 par value:
Authorized — 325,000,000 shares
Issued — 178,735,252 shares at 9/30/08, 12/31/07, and 9/30/07		894			894			894
Capital surplus		586			564			551
Accumulated other comprehensive loss		(129	)		(177	)		(238	)
Retained earnings		5,379			5,497			5,475
Less cost of common stock in treasury - 28,249,360 shares at 9/30/08, 28,747,097 shares at 12/31/07 and 27,725,572 shares at 9/30/07		(1,630	)		(1,661	)		(1,614	)
Total shareholders’ equity		5,100			5,117			5,068
Total liabilities and shareholders’ equity	$	6,290		$	6,337		$	6,283

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

Comerica Incorporated and Subsidiaries

									Accumulated
									Other									Total
	Common Stock					Capital			Comprehensive			Retained			Treasury			Shareholders’
(in millions, except per share data)	In 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		—			—		—			—			567			—			567
Other comprehensive income, net of tax		—			—		—			86			—			—			86
Total comprehensive income																			653
Cash dividends declared on common stock ($1.92 per share)		—			—		—			—			(296	)		—			(296	)
Purchase of common stock		(9.0	)		—		—			—			—			(533	)		(533	)
Net issuance of common stock under employee stock plans		2.4			—		(16	)		—			(26	)		139			97
Recognition of share-based compensation expense		—			—		46			—			—			—			46
Employee deferred compensation obligations		—			—		1			—			—			(1	)		—
BALANCE AT SEPTEMBER 30, 2007		151.0		$	894	$	551		$	(238	)	$	5,475		$	(1,614	)	$	5,068
BALANCE AT JANUARY 1, 2008		150.0		$	894	$	564		$	(177	)	$	5,497		$	(1,661	)	$	5,117
Net income		—			—		—			—			193			—			193
Other comprehensive loss, net of tax		—			—		—			48			—			—			48
Total comprehensive income																			241
Cash dividends declared on common stock ($1.98 per share)		—			—		—			—			(298	)		—			(298	)
Purchase of common stock		—			—		—			—			—			(1	)		(1	)
Net issuance of common stock under employee stock plans		0.5			—		(19	)		—			(13	)		32			—
Recognition of share-based compensation expense		—			—		41			—			—			—			41
BALANCE AT SEPTEMBER 30, 2008		150.5		$	894	$	586		$	(129	)	$	5,379		$	(1,630	)	$	5,100

-22-

BUSINESS SEGMENT FINANCIAL RESULTS

Comerica Incorporated and Subsidiaries

							Wealth &
(dollar amounts in millions)	Business			Retail			Institutional
Three Months Ended September 30, 2008	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	323		$	142		$	37		$	(26	)	$	(9	)	$	467
Provision for loan losses		135			33			7			—			(10	)		165
Noninterest income		75			80			71			20			(6	)		240
Noninterest expenses		175			161			180			3			(5	)		514
Provision (benefit) for income taxes (FTE)		23			7			(28	)		(7	)		6			1
Income from discontinued operations, net of tax		—			—			—			—			1			1
Net income (loss)	$	65		$	21		$	(51	)	$	(2	)	$	(5	)	$	28
Net credit-related charge-offs	$	95		$	17		$	4		$	—		$	—		$	116
Selected average balances:
Assets	$	41,357		$	7,046		$	4,759		$	10,096		$	1,605		$	64,863
Loans		40,506			6,362			4,624			(3	)		19			51,508
Deposits		14,933			16,596			2,351			5,588			445			39,913
Liabilities		15,633			16,583			2,359			24,359			854			59,788
Attributed equity		3,318			656			340			878			(117	)		5,075
Statistical data:
Return on average assets (1)		0.64	%		0.48	%		(4.29	)%		N/M			N/M			0.18	%
Return on average attributed equity		7.98			12.53			(60.04	)		N/M			N/M			2.25
Net interest margin (2)		3.17			3.40			3.17			N/M			N/M			3.11
Efficiency ratio		43.92			82.39			N/M			N/M			N/M			75.53
							Wealth &
	Business			Retail			Institutional
Three Months Ended June 30, 2008	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	296		$	146		$	37		$	(28	)	$	(8	)	$	443
Provision for loan losses		123			29			5			—			13			170
Noninterest income		92			54			74			18			4			242
Noninterest expenses		185			161			83			2			(8	)		423
Provision (benefit) for income taxes (FTE)		23			3			9			(7	)		8			36
Income from discontinued operations, net of tax		—			—			—			—			—			—
Net income (loss)	$	57		$	7		$	14		$	(5	)	$	(17	)	$	56
Net credit-related charge-offs	$	96		$	14		$	3		$	—		$	—		$	113
Selected average balances:
Assets	$	42,335		$	7,100		$	4,646		$	10,333		$	1,549		$	65,963
Loans		41,510			6,348			4,502			5			2			52,367
Deposits		15,384			17,043			2,493			8,409			435			43,764
Liabilities		16,156			17,041			2,501			24,334			738			60,770
Attributed equity		3,277			657			333			949			(23	)		5,193
Statistical data:
Return on average assets (1)		0.53	%		0.15	%		1.19	%		N/M			N/M			0.33	%
Return on average attributed equity		6.86			4.13			16.57			N/M			N/M			4.25
Net interest margin (2)		2.85			3.44			3.28			N/M			N/M			2.91
Efficiency ratio		49.26			80.61			75.20			N/M			N/M			63.02
							Wealth &
	Business			Retail			Institutional
Three Months Ended September 30, 2007	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	337		$	169		$	37		$	(32	)	$	(7	)	$	504
Provision for loan losses		43			7			(5	)		—			—			45
Noninterest income		82			56			70			17			5			230
Noninterest expenses		177			160			81			2			3			423
Provision (benefit) for income taxes (FTE)		62			19			11			(9	)		3			86
Income from discontinued operations, net of tax		—			—			—			—			1			1
Net income (loss)	$	137		$	39		$	20		$	(8	)	$	(7	)	$	181
Net credit-related charge-offs	$	30		$	9		$	1		$	—		$	—		$	40
Selected average balances:
Assets	$	40,796		$	6,854		$	4,152		$	5,564		$	1,180		$	58,546
Loans		39,745			6,111			3,990			2			26			49,874
Deposits		15,947			17,145			2,378			5,748			(102	)		41,116
Liabilities		16,783			17,159			2,385			16,970			234			53,531
Attributed equity		2,903			848			338			614			312			5,015
Statistical data:
Return on average assets (1)		1.35	%		0.86	%		1.90	%		N/M			N/M			1.23	%
Return on average attributed equity		18.96			18.23			23.42			N/M			N/M			14.41
Net interest margin (2)		3.36			3.91			3.59			N/M			N/M			3.66
Efficiency ratio		42.90			70.90			75.92			N/M			N/M			58.00

(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

-23-

MARKET SEGMENT FINANCIAL RESULTS

Comerica Incorporated and Subsidiaries

																			Finance
(dollar amounts in millions)													Other						& Other
Three Months Ended September 30, 2008	Midwest			Western			Texas			Florida			Markets			International			Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	197		$	169		$	73		$	12		$	36		$	15		$	(35	)	$	467
Provision for loan losses		52			82			18			7			15			1			(10	)		165
Noninterest income		142			38			27			4			7			8			14			240
Noninterest expenses		205			112			61			10			117			11			(2	)		514
Provision (benefit) for income taxes (FTE)		31			4			8			—			(45	)		4			(1	)		1
Income from discontinued operations, net of tax		—			—			—			—			—			—			1			1
Net income (loss)	$	51		$	9		$	13		$	(1	)	$	(44	)	$	7		$	(7	)	$	28
Net credit-related charge-offs	$	44		$	51		$	9		$	3		$	9		$	—		$	—		$	116
Selected average balances:
Assets	$	19,820		$	16,627		$	7,945		$	1,900		$	4,493		$	2,377		$	11,701		$	64,863
Loans		19,125			16,381			7,691			1,900			4,134			2,261			16			51,508
Deposits		15,926			11,729			3,956			262			1,231			776			6,033			39,913
Liabilities		16,541			11,698			3,973			258			1,330			775			25,213			59,788
Attributed equity		1,631			1,367			623			131			406			156			761			5,075
Statistical data:
Return on average assets (1)		1.05	%		0.21	%		0.65	%		(0.25	)%		(3.91	)%		1.24	%		N/M			0.18	%
Return on average attributed equity		12.70			2.61			8.22			(3.62	)		(43.35	)		18.83			N/M			2.25
Net interest margin (2)		4.08			4.09			3.75			2.53			3.49			2.64			N/M			3.11
Efficiency ratio		64.48			54.68			63.16			67.40			N/M			44.21			N/M			75.53
																			Finance
													Other						& Other
Three Months Ended June 30, 2008	Midwest			Western			Texas			Florida			Markets			International			Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	172		$	171		$	74		$	12		$	36		$	14		$	(36	)	$	443
Provision for loan losses		24			113			6			7			7			—			13			170
Noninterest income		136			34			22			4			16			8			22			242
Noninterest expenses		205			115			63			11			25			10			(6	)		423
Provision (benefit) for income taxes (FTE)		27			(3	)		10			(1	)		(3	)		5			1			36
Income from discontinued operations, net of tax		—			—			—			—			—			—			—			—
Net income (loss)	$	52		$	(20	)	$	17		$	(1	)	$	23		$	7		$	(22	)	$	56
Net credit-related charge-offs	$	42		$	59		$	3		$	8		$	1		$	—		$	—		$	113
Selected average balances:
Assets	$	19,891		$	17,241		$	8,063		$	1,854		$	4,589		$	2,443		$	11,882		$	65,963
Loans		19,255			16,918			7,795			1,851			4,212			2,329			7			52,367
Deposits		16,056			12,345			4,061			306			1,375			777			8,844			43,764
Liabilities		16,750			12,326			4,076			302			1,466			778			25,072			60,770
Attributed equity		1,649			1,336			614			118			389			161			926			5,193
Statistical data:
Return on average assets (1)		1.05	%		(0.46	)%		0.81	%		(0.37	)%		1.96	%		1.21	%		N/M			0.33	%
Return on average attributed equity		12.67			(5.97	)		10.66			(5.84	)		23.17			18.31			N/M			4.25
Net interest margin (2)		3.58			4.04			3.78			2.50			3.41			2.42			N/M			2.91
Efficiency ratio		69.48			56.09			65.55			72.21			48.61			45.61			N/M			63.02
																			Finance
													Other						& Other
Three Months Ended September 30, 2007	Midwest			Western			Texas			Florida			Markets			International			Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	222		$	185		$	73		$	12		$	34		$	17		$	(39	)	$	504
Provision for loan losses		15			23			(2	)		3			12			(6	)		—			45
Noninterest income		119			36			24			4			14			11			22			230
Noninterest expenses		206			110			58			10			23			11			5			423
Provision (benefit) for income taxes (FTE)		41			33			14			1			(5	)		8			(6	)		86
Income from discontinued operations, net of tax		—			—			—			—			—			—			1			1
Net income (loss)	$	79		$	55		$	27		$	2		$	18		$	15		$	(15	)	$	181
Net credit-related charge-offs (recoveries)	$	23		$	7		$	1		$	1		$	9		$	(1	)	$	—		$	40
Selected average balances:
Assets	$	19,131		$	17,095		$	7,172		$	1,706		$	4,428		$	2,270		$	6,744		$	58,546
Loans		18,526			16,543			6,902			1,692			4,047			2,136			28			49,874
Deposits		15,636			13,009			3,920			271			1,475			1,159			5,646			41,116
Liabilities		16,307			13,045			3,937			273			1,591			1,174			17,204			53,531
Attributed equity		1,700			1,201			597			97			343			151			926			5,015
Statistical data:
Return on average assets (1)		1.64	%		1.29	%		1.51	%		0.56	%		1.60	%		2.68	%		N/M			1.23	%
Return on average attributed equity		18.50			18.34			18.09			9.78			20.67			40.33			N/M			14.41
Net interest margin (2)		4.73			4.43			4.17			2.94			3.35			3.05			N/M			3.66
Efficiency ratio		60.88			49.96			59.83			59.15			48.71			42.95			N/M			58.00

(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

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