CIBC to redeem subordinated indebtedness

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    TORONTO, Dec. 13 /CNW/ - CIBC (CM: TSX; NYSE) today announced it is
redeeming all $250,000,000 of its 4.75% Debentures (subordinated indebtedness)
due January 21, 2013 (the "Debentures"). In accordance with their terms, the
Debentures will be redeemed at 100% of their principal amount on January 21,
2008. The interest accrued on the Debentures to the redemption date will be
paid through CIBC Mellon Trust Company in the usual manner. The redemption
will be financed out of the general corporate funds of CIBC.

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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.

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