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CIBC to redeem preferred shares

    TORONTO, June 5 /CNW/ - CIBC (CM: TSX; NYSE) today announced its
intention to redeem all of its issued and outstanding Non-cumulative Class A
Preferred Shares Series 25 for cash. The redemptions will occur on July 31,
2007. The redemption price is $26.00 per Series 25 share.
    The $0.375 per share quarterly dividend declared on May 31, 2007 will be
the final dividend on the Series 25 shares and will be paid on July 27, 2007
to shareholders of record on June 28, 2007, as previously announced.
    Holders of the Series 25 shares should contact the financial institution,
broker or other intermediary through which they hold the shares to confirm how
they will receive their redemption proceeds.

    %SEDAR: 00002543EF

For further information:
For further information: John Ferren, Vice-President, Investor
Relations, (416) 980-2088; or Mary Lou Frazer, Senior Director, Investor &
Financial Communications, (416) 980-4111