IBOC International Bancshares Corporation

International Bancshares Corporation ("IBC") (NASDAQ:IBOC) announced that on March 9, 2006, its board of directors expanded its stock repurchase program. The Company is now authorized to repurchase up to $200 million of its common stock through December 31, 2006, compared to the prior authorization of $175 million through the same period. Stock repurchases may be made from time to time, on the open market or through private transactions. Shares repurchased in this program will be held in treasury for reissue for various corporate purposes, including employee stock options plans. As of March 9, 2006, a total of 4,392,740 shares had been repurchased under this program at a total cost of approximately $165,880,000, which shares are now reflected as 11,263,437 shares of treasury stock as adjusted for stock dividends. The Company currently has invested approximately $186,853,000 in treasury shares, which amount has been accumulated since the inception of the Company. "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts contain forward looking information with respect to plans, projections or future performance of IBC and its subsidiaries, the occurrence of which involve certain risks and uncertainties detailed in IBC's filings with the Securities and Exchange Commission. Copies of IBC's SEC filings and Annual Report (as an exhibit to the 10-K) may be downloaded from the SEC filings site located at http://www.sec.gov/edgar.shtml. IBC is a $10.4 billion multi-bank financial holding company headquartered in Laredo, Texas, with more than 200 facilities and more than 300 ATMs serving more than 80 communities in Texas and Oklahoma.