CIBC to nominate Nick Le Pan and Robert Steacy for election to its board of directors



    TORONTO, Jan. 7 /CNW/ - CIBC announced today that it will nominate
Nicholas D. Le Pan and Robert J. Steacy for election as members of its board
of directors at the company's Annual General Meeting on February 28, 2008.
    Bill Etherington, Chairman of the Board of CIBC, said: "We are very
pleased to be nominating these two outstanding individuals to the CIBC Board
of Directors.
    Nick Le Pan brings an unparalleled understanding of the international
banking system, financial markets and risk management. Bob Steacy is a
seasoned financial professional with a reputation for diligence and
integrity."

    
    -   Mr. Le Pan, 56, served as Superintendent of Financial Institutions
        for Canada from 2001 to 2006 and as Deputy Superintendent, Office of
        the Superintendent of Financial Institutions, Canada (OSFI) from
        May 2000. Mr. Le Pan has been involved in several international and
        Canadian regulatory coordination efforts, including serving as
        Chairman of the Basel Accord Implementation Group and Vice Chairman
        of the Basel Committee on Banking Supervision. In May 2007, Mr. Le
        Pan was appointed by the federal government as Senior Expert Advisor
        to the RCMP on its white-collar crime unit, the Integrated Market
        Enforcement Teams. He is also the Chair-elect of the Canadian Public
        Accountability Board which oversees auditors of public companies,
        chair of the Independence Review Committee of Brandes Investment
        Funds and a member of the board of the Toronto Centre for Leadership
        in Financial Sector Supervision.

    -   Mr. Steacy, 57, is a retired Chief Financial Officer of Torstar
        Corporation. Mr. Steacy held a series of financial positions of
        increasing responsibility over the course of a 25-year career at
        Torstar, becoming Executive Vice President and Chief Financial
        Officer in 2002 until his retirement in 2005. Mr. Steacy is a
        director and chair of the Audit Committees of Cineplex Galaxy Income
        Fund, Domtar Corporation and Domtar Inc. From 2005 to 2007 he served
        on the Boards of Alliance Atlantis Communications Inc. and Somerset
        Entertainment Income Fund. Mr. Steacy is a Chartered Accountant.
    

    Forward Looking Statement

    This news release contains forward-looking statements. These
forward-looking statements include, but are not limited to, statements about
the 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 except as required by law.





For further information:

For further information: Rob McLeod, CIBC, (416) 980-3714 for media
inquiries; John Ferren, CIBC, (416) 980-2088 for analyst/investor inquiries


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