CIBC to redeem subordinated indebtedness

    TORONTO, Jan. 17 /CNW/ - CIBC (CM: TSX; NYSE) today announced it will
redeem all of its outstanding 5.89% Debentures (subordinated indebtedness) due
February 26, 2013 (the "Debentures"). The redemption will occur on
February 26, 2008. In accordance with their terms, the Debentures will be
redeemed at 100% of their principal amount plus accrued interest to the
redemption date. There is currently $89,419,000 principal amount of the
Debentures outstanding.
    The redemption will be financed out of the general corporate funds of

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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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