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CIBC announces intention to seek non-viability contingent capital treatment for its Class A preferred shares, Series 26, 27 and

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^{Published in Business and Finance on Thursday, May 26th 2011 at 3:41 GMT by Market Wire}  

 (i) CIBC irrevocably renounces its rights to convert the Convertible Preferred Shares into CIBC common shares by way of a deed poll except in circumstances that would be a "Trigger Event" as described in the NVCC Advisory; and (ii) CIBC provides an undertaking to OSFI that CIBC will immediately exercise its rights to convert each of the Convertible Preferred Shares into CIBC common shares upon the occurrence of a Trigger Event.