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New York – September 19, 2008 – Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin Stoia”) (http://www.csgrr.com/cases/cibc/) today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the Southern District of New York on behalf of all purchasers of the securities of Canadian Imperial Bank of Commerce (“CIBC” or the “Company”) (NYSE:CM) on the New York Stock Exchange (“NYSE”), and all U.S. purchasers of the securities of CIBC, (the “Class”) between May 31, 2007 and May 28, 2008, inclusive (the “Class Period”).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/cibc/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges CIBC and certain of its officers and directors with violations of the Securities Exchange Act of 1934. CIBC is one of Canada’s largest banking institutions, providing various financial products and services to corporate, government, and institutional clients in the U.S. and Canada.

The complaint alleges that the statements contained in CIBC’s press releases, SEC filings, conference calls and presentations during the Class Period were materially false and misleading when made because they failed to disclose that: (i) the Company did not make timely disclosure of material changes affecting the valuation of its investments in collateralized debt obligations consisting of U.S. subprime mortgages, in violation of U.S. Generally Accepted Accounting Principles (“GAAP”); (ii) the Company’s hedged subprime exposure was nearly four times larger than its unhedged subprime exposure; and (iii) 35% of the Company’s hedged subprime exposure was entrusted with ACA Financial Guaranty Corp, a substantially undercapitalized financial guarantor.

On December 6, 2007, CIBC released fourth quarter results that stunned the banking community by revealing a surprisingly large exposure to the troubled U.S. housing market. CIBC said its write-downs had already reached $1 billion, and warned of significantly higher losses in the future related to its $9.8 billion in hedged exposure to the subprime mortgage and CDO market. Upon this announcement, shares fell 8.4% over the next two trading days, from $85.83 to $78.59. But it was not until May 29, 2008 that the Company’s full exposure to U.S. subprime mortgages was finally revealed. On that date, CIBC swung to a fiscal second-quarter loss as it took a $2.51 billion loss related to its structured credit activities, and analysts said the potential for more write-downs looms even though the bank has taken charges totaling approximately $6 billion in the past year.

Plaintiff seeks to recover damages on behalf of the Class of purchasers of CIBC securities during the Class Period. The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm. Contact: Coughlin Stoia Geller Rudman & Robbins LLP Samuel H. Rudman, 800-449-4900 David A. Rosenfeld djr@csgrr.com