THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Community First Bankshares, Inc. (Retired) (CFBX.X)

3/10/2004 Proxy Information

The Company's subsidiary banks make loans from time to time to officers and directors of the Company and its affiliates. Loans to executive officers and directors of the Company as of December 31, 2003, by its subsidiary banks totaled approximately $49,000. Such loans were made in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons and did not involve more than the normal risk of collectability.

Patrick Delaney retired on December 31, 2002 as a partner in the law firm of Lindquist & Vennum PLLP, which provided legal services to the Company (and its subsidiaries) in 2003. Fees paid to the law firm were approximately $522,446. Such fees did not exceed 5% of the law firm's gross revenues. The Company believes that the fees charged by this law firm for the services provided were at market rates and were not affected by Mr. Delaney's former position as a partner of the firm. The Company has also retained the law firm to render services to the Company in 2004.

Marilyn M. Seymann, President of M One, Inc., a bank consulting firm that has provided services to the Company in the past.