* * * FOR IMMEDIATE RELEASE * * *


FOR: ZIONS FIRST NATIONAL BANK	         
One South Main, Suite 200		        
Salt Lake City, Utah			  
A. Scott Anderson
President/Chief Executive Officer	 
				              
ZIONS AGRICULTURAL FINANCE
Contact: Rick Floyd
Tel: (801) 524-8997

ZIONS FIRST NATIONAL BANK
Contact: Rob Brough
Tel: (801) 594-8268


ZIONS BANK RANKS AS NATION'S TOP ORIGINATOR OF 
FARMER MAC AGRICULTURAL REAL ESTATE LOANS SOLD 
FOR 5th CONSECUTIVE YEAR

SALT LAKE CITY; March 20, 2003 

Zions Agricultural Finance, a division of Zions First National Bank (Zions 
Bank), has announced that it ranked as the nation's top originator of 
newly originated secondary market agricultural real estate mortgage loans 
sold through the Federal Agricultural Mortgage Corporation (Farmer Mac) for 
2002. This year's top ranking by Zions marks the fifth consecutive year in 
which the bank has claimed the top spot. Zions Bank is a subsidiary of 
Zions Bancorporation (Nasdaq: ZION).

"Zions Agricultural Finance continues to be a premier provider of nationwide 
agricultural real estate mortgage loans," said Rick Floyd, senior vice 
president and manager of Zions Agricultural Finance. "With lending officers
or correspondents in 28 states, Zions is committed to providing rapid farm 
mortgage loan decisions for farmers and ranchers nationwide seeking 
financing for capital expansion, farm and ranch land acquisitions, and 
refinancing existing debt."

Zions Bank has been an active participant in the Farmer Mac program for 
nearly 12 years, helping to launch the Farmer Mac II program in 1991. Since 
1996, Zions has held a primary contract with Farmer Mac to underwrite and 
provide national servicing for farm and ranch loans sold on the secondary 
market to Farmer Mac. Zions and its affiliates currently own 322,000 shares 
(or approximately 31 percent) of Farmer Mac Class A Voting common stock, 
and 1,500,000 shares (or 14.9 percent) of Class C Non-Voting common stock. 
In addition, Zions Bank Executive Vice President David Hemingway is a member 
of the Farmer Mac board of directors.  With principal offices in Salt Lake 
City, Utah and Ames, Iowa, Zions Agricultural Finance maintains a national 
network of employee originators, correspondent bank relationships and 
mortgage brokers. Visit the Zions Agricultural Finance Web site at 
www.zionsag.com.

Farmer Mac is the federally chartered corporation created by Congress to 
establish a secondary market for agricultural real estate and rural housing 
mortgage loans, and to facilitate capital market funding for U.S. Department 
of Agriculture USDA) guaranteed farm program and rural development loans.

Zions Bank operates 146 full service branches and more than 200 ATMs 
throughout Utah and Idaho. In addition to a wide range of traditional 
banking services, Zions offers a comprehensive array of investment, 
mortgage, and insurance services, and has a network of loan origination 
offices for small businesses nationwide. The company is also a leader in 
providing electronic banking services, including electronic municipal 
bond trading. Founded in 1873, Zions has been serving the communities 
of the Intermountain West for nearly 130 years. 

Additional information on Zions Bank is available at www.zionsbank.com.

#	#	#	#	#	#	#	#	#	#	#