Flagship education program includes tuition for four years and summer internships for six years.

ONTARIO, June 18, 2012 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today that 16 Grade 10 students from Ontario have been awarded CIBC Youthvision Scholarships, valued at up to $38,500 each.

CIBC Youthvision Scholarships target high-potential young people who might not otherwise have the opportunity to pursue a university or college education by supporting them as they complete high school and in funding their post-secondary education.

"Through programs such as CIBC Youthvision scholarships, CIBC is investing in Canada's children and young adults so they can build a better future. The CIBC Youthvision Scholarship provides the winners with financial stability allowing them to focus on their educational goals," says Sharon Mathers, Senior Vice-President of Communications & Public Affairs, CIBC. "On behalf of CIBC, I congratulate these 16 Ontario young people along with this year's other 14 scholarship recipients and wish them every success in achieving their academic goals."

Scholarship winners receive a summer internship for up to six years through the YMCA beginning right after Grade 10, and up to $4,000 annual contribution towards tuition for four years.

The recipients are:

The CIBC Youthvision Scholarship Program, now in its 14^th year, has helped more than 420 young Canadians. Youthvision Alumnus Andrew McLaren says, "The CIBC Youthvision Scholarship changed everything for me. That is when my plans became concrete. It was no longer about what I could afford or having to make do with what was close by. It allowed me to realize my dream of becoming a teacher."

"These youth are a great example of how young people who are given the chance to grow, learn and dream, can reach their full potential.  With a strong start on their path to higher education, these 16 youth will have a great future," says Medhat Mahdy, President and CEO, YMCA of Greater Toronto. "Our partnership with CIBC allows the YMCA to create a supportive environment where young people flourish and build the foundation for a healthy community."

About CIBC

CIBC is committed to supporting causes that matter to our clients, employees and our communities. We aim to make a difference in communities through corporate donations, sponsorships and the volunteer spirit of employees. With a strategic focus on Kids, Cures and Community, and employee commitment to causes including the Canadian Breast Cancer Foundation CIBC Run for the Cure, the CIBC Children's Foundation and United Way, we are investing in the social and economic development of communities across the country. In 2011, CIBC group of companies contributed over $35 million to charitable and non-profit initiatives in Canada to support national, regional and local organizations. To learn more, visit www.cibc.com.

About the CIBC Youthvision Scholarship Program

Each year the CIBC Youthvision Scholarship program commits more than $1 million to make post-secondary education dreams a reality for youth-in need, ultimately helping to break the cycle of poverty in their family. Now in its 14^th year, this one-of a-kind program has already helped 420 students and committed over $14 million. To be eligible, Grade 10 students must be enrolled in a mentoring program with Big Brothers Big Sisters of Canada or the YMCA.

Students receive ongoing mentoring from either Big Brothers Big Sisters of Canada or the YMCA until they graduate from their post-secondary education. In addition to the scholarships, each of these students will take part in CIBC Money Smarts for Students Seminar helping them shape their financial futures as they prepare to head off to college or university. For more information, visit www.cibc.com/youthvision.

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