BALTIMORE, MD -- (Marketwire) -- 10/01/08 -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the securities of Canadian Imperial Bank of Commerce ("CIBC" or the "Company") (NYSE: CM) on the New York Stock Exchange, and all U.S. purchasers of the securities of CIBC (the "Class") during the period between May 31, 2007 and May 28, 2008, inclusive (the "Class Period").

The complaint charges CIBC and certain of its officers and directors with violations under the Securities Exchange Act of 1934. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than November 18, 2008 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You may contact Brower Piven (through hoffman@browerpiven.com or 410/332-0030) to answer any questions you may have in that regard.

The complaint alleges that the statements contained in CIBC's press releases, SEC filings, conference calls and presentations during the Class Period failed to disclose that 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"), that the Company's hedged subprime exposure was nearly four times larger than its unhedged subprime exposure, and that 35% of the Company's hedged subprime exposure was entrusted with a substantially undercapitalized financial guarantor. The complaint further alleges that on December 6, 2007, CIBC released fourth quarter results revealing a large exposure to the troubled U.S. housing market, that its write-downs had already reached $1 billion, and that there was a risk of significantly higher losses related to hedged exposure to the subprime mortgage and CDO market. The complaint also alleges that this news caused the value of the Company's shares to decline significantly.

If you have suffered a net loss for all transactions in Canadian Imperial Bank of Commerce securities during the Class Period (including shares or possibly calls purchased during, but retained after, the Class Period or possibly put options sold but not covered until after the Class Period), you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-332-0030, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.