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CIBC issues statement regarding the Canadian Asset-Backed Commercial Paper Market

    TORONTO, Aug. 16 /CNW/ - CIBC today issued the following statement
regarding the Asset-Backed Commercial Paper market in Canada.
    "CIBC confirms its support of its bank-sponsored Asset-Backed Commercial
Paper programs (Crisp Trust; Franchise Trusts I and II; Macro Trust; Safe
Trust; Smart Trust; and Sound Trust.)
    "In addition, CIBC said that while its direct holdings in the third-party
Asset Backed Commercial Paper Market are not significant, CIBC is supportive
of the industry restructuring and orderly resolution of the non-bank Asset
Backed Commercial Paper market in Canada."


    This news release may contain forward-looking statements. These
forward-looking statements include, but are not limited to, statements about
our operations, financial condition, strategies and outlook of CIBC. A
forward-looking statement is subject to inherent risks and uncertainties that
may be general or specific. A variety of factors, many of which are beyond
CIBC's control could cause actual results to differ materially from the
expectations expressed in CIBC's forward-looking statements. Readers should
not place undue reliance on CIBC's forward-looking statements. CIBC does not
undertake to update any forward-looking statement that is contained in this
news release.

For further information:
For further information: Investor Relations: John Ferren, (416)
980-2088; Media Relations: Rob McLeod, (416) 980-3714