CIBC Asset Management Launches CIBC Pooled Commodity Fund For Institutional Market

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TORONTO, May 31, 2006 -- CIBC Asset Management is pleased to announce the launch of the CIBC Pooled Commodity Fund for pension plan sponsors.

The new CIBC Pooled Commodity Fund invests in commodity futures corresponding to 24 major commodities. It gives its clients the opportunity for greater diversification, and at the same time the Fund provides an effective hedge against inflation.

The CIBC Pooled Commodity Fund tracks the performance of the Goldman Sachs Light Energy Index, a broadly diversified commodities index run by Goldman, Sachs & Co. We selected the GS Light Energy Index because it has a lower exposure to energy than other commodity indexes and subsequently protects against some of the volatility possible in the commodities market.

With this Fund, CIBC Asset Management is showing its leadership in developing innovative investment products to meet the needs of its clients. The CIBC Pooled Commodity Fund complements the many styles of investing CIBC Asset Management offers.

CIBC Asset Management is one of Canada's leading asset managers with close to $60 billion of assets under management. We provide a broad range of high-quality global investment management solutions to retail and institutional clients. Our goal is to help our clients achieve what matters to them and our philosophy is based on the CIBC values of Trust, Teamwork, and Accountability. We achieve results for our clients through an in-depth disciplined investing approach based on rigour and research.

Goldman Sachs, GSCI®, GSCI® Index, Goldman Sachs Light Energy Index and Goldman Sachs Commodity Index are trademarks or service marks of Goldman, Sachs & Co. and have been licensed for use by Canadian Imperial Bank of Commerce for use in connection with the Fund(s). The Fund(s) are not sponsored, endorsed, sold, or promoted by Goldman, Sachs & Co. or any of its affiliates. Neither Goldman, Sachs & Co. nor any of its affiliates make any representation regarding the advisability of investing in securities generally or in the Fund(s) particularly, or the ability of any Goldman Sachs Commodity Index (including any sub-indices) to track general commodity market performance.

The CIBC Pooled Commodity Fund is only available for sale in Canada exclusively to qualified institutional investors.

CIBC Global Asset Management Inc. operates under the brand name CIBC Asset Management and is a member of the CIBC Group of Companies.

Copyright® 2007 Canadian Imperial Bank of Commerce. All rights reserved.