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CIBC Confirms its Canadian Money Market Funds Have No Exposure to Non-Bank Sponsored Asset-Backed Commercial Paper

    TORONTO, Aug. 20 /CNW/ - CIBC today issued the following statement
regarding its money market funds.
    "None of CIBC's Money Market Funds, including those operating under the
brand names Talvest and Renassiance, have any exposure to third-party
(non-bank sponsored) asset-backed commercial paper (ABCP) that has recently
experienced liquidity pressure. All asset-backed commercial paper owned in
CIBC's Canadian money market funds is sponsored by the major Canadian banks
and does not include any exposure to U.S. sub-prime, collateralized debt
obligations, and derivatives markets."


    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