Press Releases

CIBC Mellon Secures Highest Ratings in Group Five Client Satisfaction Study for the Fourth Consecutive Year

TORONTO, November 22, 2005 — CIBC Mellon announced today that for the fourth consecutive year, it has received the highest overall client satisfaction rating in Group Five's annual Shareholder Services Benchmarking Study. The study measures corporate clients' confidence in their transfer agent as well as the quality of service provided to shareholders.

"CIBC Mellon continued to be the highest rated in the study, with a 76 percent favourable score," said Jack Sunday, chief executive officer, Group Five.

The study received responses from 221 corporations, representing over 5 million registered shareholders. According to the study, the two most significant factors affecting corporate clients' overall satisfaction are the perception of quality of service provided to both issuers and their shareholders, and corporate client satisfaction in relation to transfer agent fees paid.

"Once again achieving the highest overall rating in Group Five's satisfaction study is an important benchmark for us to assess our clients' satisfaction with our services," said Thomas C. MacMillan, president and CEO at CIBC Mellon. "However, we recognize there are opportunities to improve our clients' perception of the quality and efficiency of our services. We plan to implement changes in our approach to client service so that we can best serve the stock transfer needs of our clients, while remaining competitive in an industry where compliance and regulatory requirements for Canadian securities issuers continue to evolve."

Group Five is a consulting and research firm headquartered in Princeton, New Jersey, USA. The firm is best known for its consulting and research expertise in business to business satisfaction in the financial services industry.

CIBC Mellon Trust Company is a 50-50 joint venture between Canadian Imperial Bank of Commerce and Mellon Financial Corporation. CIBC Mellon Trust Company is a leading provider of trust services in Canada offering stock transfer, registrar, debt trusteeship and plan administration services. CIBC Mellon Trust Company serves the needs of more than 1,200 stock and bond issuing clients and millions of their investors. CIBC Mellon Trust Company, is a sister company to CIBC Mellon Global Securities Services Company. Visit CIBC Mellon's website at www.cibcmellon.com.

Contact: Cheryl Ficker, director, corporate affairs, CIBC Mellon at 416-643-6368