TORONTO, Jan. 29 /CNW/ - CIBC announced today a change in sub-advisor of
the Imperial U.S. Equity Pool and sought the approval to change the investment
objective of the Imperial Canadian Dividend Pool.

    Sub-advisor change to the Imperial U.S. Equity Pool

    Aletheia Research and Management Inc. (Aletheia) will be added as the
portfolio sub-advisor for the growth component of the Imperial U.S. Equity
Pool replacing AllianceBernstein Canada Inc. This change will be effective
April 1, 2008.
    Aletheia, based in Los Angeles, California was founded in 1997 managing
investments primarily for institutional, separately managed and high net worth
accounts. Aletheia's unique proprietary investment process combines the
forensic analysis of balance sheets, insider and corporation actions
behaviour, as well as direct industry research, in order to produce superior
results for investors over the long-term. Their consistent approach has
resulted in historically strong performance.
    "Aletheia has demonstrated an ability to surpass both their benchmark and
their peer group on a regular basis, landing them at the top of the list of
large-cap growth managers in the United States. We are confident their unique
process will further enhance the overall composition of the Imperial U.S.
Equity Pool, and its long-term performance potential," said Steve Geist,
President of CIBC Asset Management Inc.

    Approval sought for change to the Imperial Canadian Dividend Pool's
    investment objective

    On January 28, 2008, CIBC sought the approval of CIBC Private Investment
Counsel Inc., the sole unitholder of record of the Imperial Canadian Dividend
Pool, to change the Pool's investment objective. The investment objective will
be changed from: To maximize dividend income in a manner consistent with
capital preservation, to the following: To generate income and potential
capital growth by investing primarily in Canadian income-generating equity
securities and debt securities.
    The new investment objective will allow the Pool to better diversify its
income-producing securities between equity and debt securities in order to
meet investors' income and capital growth needs and objectives.

    CIBC is a leading North American financial institution with more than 11
million personal banking and business customers. CIBC offers a full range of
products and services through its comprehensive electronic banking network,
branches and offices across Canada, in the United States and around the world.
You can find other news releases and information about CIBC in our Press
Centre on our corporate website at www.cibc.com.