CIBC provides leadership donation of $1 million

    TORONTO, Oct. 1 /CNW/ - Children of military parents killed while serving
in the Canadian Forces are now eligible to receive significantly enhanced
financial assistance for their post-secondary education thanks to a new
Scholarship Fund announced today by Canada Company.
    The Canada Company Scholarship Fund will provide up to $4,000 per year
for up to four years to support the post-secondary education for children who
qualify. The Canada Company Scholarship Fund will provide scholarship grants
to children dating back to January 1, 2002.
    "Canada Company is delighted to announce this new Scholarship Fund in
recognition of the selfless sacrifice that our brave military personnel make
in the service of their country," said Blake Goldring, Chairman of Canada
Company and Chairman and CEO, AGF Management Limited. "By significantly
boosting the support already available to these children, we hope that each
and every child will receive the benefits of a post-secondary education and
will not be hindered by financial constraints."
    CIBC is providing leadership funding in the amount of $1 million to the
Scholarship Fund. Canada Company has also secured financial support from Power
Corporation; Peter Munk, Founder and Chairman of Barrick Gold Corporation; Jim
Balsillie, Co-Chief Executive Officer of Research In Motion (RIM); Rothmans,
Benson & Hedges Inc.; the W. Garfield Weston Foundation; and, from AGF
Management Limited. Canada Company is calling on other members of the
corporate community to contribute to this important initiative.
    "At CIBC, we have a long history of supporting education," said Gerry
McCaughey, President and Chief Executive Officer of CIBC. "We are proud to
participate in this Scholarship Fund with Canada Company so that these young
Canadians can have greater opportunities to further their education."
    Canada Company will oversee the fund and will form an independent
committee along with members of the Canadian Forces to ensure that bereaved
children have the opportunity to receive this scholarship grant for their
post-secondary education. This oversight committee also will determine the
eligibility criteria, disburse the funds, and make recommendations to Canada
Company for future funding requirements.
    "This Scholarship Fund benefits our military families in ways that far
exceed any dollar value," said General Hillier. "It shows our incredible
sailors, soldiers, airmen and airwomen that Canadians are sailing the stormy
seas, patrolling the dusty dangerous trails, and flying the icy skies with
them. They know, beyond a doubt, that Canadians will look after them and their
families as much as our imagination permits us. I thank Canada Company and
those who have already contributed to this Fund for launching this truly
significant initiative."

    About Canada Company

    Canada Company, created in 2006, brings community leaders from across
Canada together to support Canadian soldiers in the work that they do at home
and abroad. The organization is apolitical and is an advocate for those
Canadians who serve, or wish to serve, in the Canadian Forces - regular and
reserve - and their families, ensuring that they receive the widest possible
support, recognition and care possible. Canada Company's motto is Many Ways To
Serve. www.canadacompany.ca

    About CIBC's community investment

    CIBC is committed to supporting causes that matter to its clients,
employees and communities. We aim to make a difference in communities through
corporate donations, sponsorships and the volunteer spirit of employees. With
a strategic focus on youth, education and health, and employee commitment to
causes including the Canadian Breast Cancer Foundation CIBC Run for the Cure,
the CIBC World Markets Children's Foundation and the United Way, CIBC is
investing in the social and economic development of communities across the
country. In 2006, the CIBC group of companies contributed more than $36
million globally to charitable organizations and non-profit initiatives. Of
this, $28 million was invested in Canada to support national, regional and
local organizations. At the end of fiscal 2006, CIBC's multi-year commitments
to universities and colleges across Canada totalled $20 million. Of this, more
than $6 million was directed to bursaries and scholarships to enable students
to pursue post-secondary education. www.cibc.com

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