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CIBC announces completion of offering of preferred shares

    TORONTO, Feb. 14 /CNW/ - CIBC (CM: TSX; NYSE) today announced that it
completed the offering of 12 million non-cumulative Class A preferred shares
Series 32 (the "Series 32 Shares") priced at $25.00 per Series 32 Share to
raise gross proceeds of $300 million.
    The offering was made through a syndicate of underwriters led by CIBC
World Markets Inc. Following the successful sale of the initially announced
10 million Series 32 Shares, the underwriters exercised an option to purchase
an additional 2 million shares. The Series 32 Shares commence trading on the
Toronto Stock Exchange today under the ticker symbol CM.PR.J.

    The securities being offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer to
sell securities in the United States.

    %SEDAR: 00002543EF



For further information:
For further information: Rachel Gauci, Director, Investor Relations,
(416) 980-8691; or Mary Lou Frazer, Senior Director, Investor & Financial
Communication, (416) 980-4111

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