BURLINGTON, MA, June 16, 2003 —CIBC Insurance, a division of Canadian Imperial Bank of Commerce (CIBC) has selected Cognos, (NASDAQ: COGN; TSX: CSN) the world leader in business intelligence (BI) and corporate performance management, to monitor, analyze and measure performance across regions, branches, business divisions, and product lines. Using Cognos' zero footprint solution, CIBC Insurance is making critical business data instantly available to managers and remote sales forces across the country, saving weeks in report generation and distribution time.

CIBC Insurance uses Cognos Series 7 to report on and analyze sales and marketing data, like the Segmented Sales Insurance Penetration reports, that is then rolled up into a dashboard used by CIBC Insurance senior management to get at-a-glance updates on business performance. Senior managers are able to view targets for regions and branches and benchmark performance over time. In addition, Cognos' powerful analytical capabilities enable users to drill deep down into the data to understand the metrics driving the business.

"Before Cognos, this information was not easily accessible. It could take weeks before a report request was answered and by that time the information was out of date," said Kal Omran, general manager, MIS and Business Operations, CIBC Insurance. "With Cognos we have created a self-service environment that allows employees to access the data they need, exactly when they need it - decreasing the time to obtain this data from weeks to minutes. This enables CIBC to quickly respond to changing market conditions and to proactively pinpoint trouble spots and quickly take corrective action."

"The ability for our remote sales forces to access this information has been invaluable. We can compare actuals to plans and build 'what if' scenarios that demonstrate how the business is impacted by the metrics," said John Paul da Silva, manager, sales effectiveness, CIBC Insurance.

CIBC Insurance is currently rolling this out to the marketing department, enabling product managers to better understand the customer base, product profitability and to identify new marketing opportunities.

"Understanding the profitability of products and customers and how that relates to overall business performance is key corporate success. Cognos Series 7 allows companies like CIBC Insurance to engage employees at the both the corporate and branch levels and share critical performance information across the organization," said Leo Tucker, director, banking solutions, Cognos.

About CIBC
CIBC is a leading North American financial institution with almost nine million personal banking and business customers. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, the United States and around the world. You can find other news releases and information about CIBC in our Media Centre on the Internet at www.cibc.com.