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CIBC Confirms its Support of its Bank-Sponsored Asset-Backed Commercial Paper Programs

    TORONTO, Aug. 21 /CNW/ - In line with the joint statement issued earlier
today by the Canadian banks to ensure that markets for bank-sponsored
Asset-Backed Commercial Paper (ABCP) continue to perform satisfactorily, CIBC
reaffirmed 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). CIBC also announced today that it will be
providing these bank-sponsored Trusts with global style liquidity, reflecting
its continued support of these Asset-Backed Commercial Paper conduits.


    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