CIBC continues substantial sponsorship of Alpine Canada Alpin

CIBC continues substantial sponsorship of Alpine Canada AlpinTORONTO, November 2, 2004 – Entering its third year as a platinum sponsor of Alpine Canada Alpin, CIBC continues with its $1 million annual sponsorship of the Canadian Alpine Ski Team (CAST) and the Canadian Disabled Alpine Ski Team (CDAST) as they continue with their relentless pursuit to make Canada a world-leading alpine racing country. CIBC’s four-year, $4 million sponsorship is the largest sponsorship agreement in Alpine Canada Alpin’s history as well as the largest annual sponsorship with a Canadian amateur sports organization.

CIBC, together with Alpine Canada Alpin, several members of the Canadian Alpine Ski Team, the Canadian Disabled Alpine Ski Team and former Crazy Canuck Steve Podborski, launched the highly anticipated 2004/05 ski-racing season at a press conference in downtown Toronto. The upcoming season is an important one for Canada’s athletes as they prepare for the World Championships and are expected to bring even more spectacular performances and podium finishes.

‘Clearly, Alpine Canada Alpin’s ‘Strategic Plan of Excellence’ is working and we are on the verge of a rebirth in Canadian skiing’ said Stephen Graham, CIBC’s Executive Vice President, Personal and Small Business Banking and Chief Marketing Officer. ‘Our Canadian athletes had a fantastic season last year and will continue to excel throughout 2004, 2005, 2006 and beyond. CIBC is proud of the support that we have provided in nurturing our young athletes and building the next generation of international contenders.’

‘We recognize that amateur athletes need proper funding, coaching and training so they can excel on the world stage’ added Graham, ‘which is why we are delighted to support Alpine Canada Alpin. Just as the athletes push themselves, CIBC will continue to support them as they strive for excellence.’

‘CIBC is proud to be part of this national team and this national dream and I urge the media and Canadians to learn more about these special athletes. They represent the pinnacle of dedication, focus and athletic ability and these heroes deserve our collective support as they push themselves to be the best in the world’ ended Graham.

‘Over the past year, Canadian ski racing has undertaken several bold initiatives to ensure we build a team of contenders and a program that will consistently produce champions’ said Ken Read, President of Alpine Canada Alpin. ‘We are on a national mission to put Canadians on the podium and to provide them with the financial, technical and human resources required to win against the world’s best. I want to thank CIBC for their tireless dedication and commitment to our athletes and to the goals of our organization. It has been, and will continue to be, a fantastic partnership.’

CIBC’s support of Alpine Canada Alpin is focused in four key areas:

· Through the Athlete Sponsorship Program, CIBC provides individual funding and support to Allison Forsyth, Thomas Grandi, Erik Guay and Julien Cousineau.

· As title sponsor of the CIBC Lake Louise Winterstart World Cup, CIBC supports the only Canadian stop on the World Cup circuit and the season’s opening speed races. Last November, Erik Guay won a silver medal in downhill at the CIBC Lake Louise Winterstart World Cup making him the first Canadian male to have a medal finish at a Canadian downhill race since 1989.

· CIBC is also title sponsor of the Canadian portion of the prestigious CIBC Coupe Nor-Am Cup. Many of the young athletes who compete in the CIBC Coupe Nor-Am Cup move on to become international contenders in North America and Europe. Please refer to the attached list for a complete schedule of races for 2004 and 2005.

· CIBC also sponsors the CIBC Go for Gold Evening in Toronto, which is an annual fundraising event for Alpine Canada Alpin and Alpine Ontario Alpin. The 2004 fundraiser is taking place tonight (November 2) at the Fairmont Royal York Hotel. Current and former members of the Canadian Alpine Ski Team will be attending including Ken Read, Steve Podborski and Edi Podivinsky.

The four CIBC sponsored athletes, as well as other members of CAST and CDAST have enjoyed numerous personal bests and impressive wins for the 2003/04 season. Some examples are:

· Thomas Grandi World Cup SL silver, Kitzbuehel, Austria, January
· Julien Cousineau – broke onto the World Cup circuit with back-to-back top 12 and top 10 finishes on some of the circuit’s toughest technical courses
· François Bourque – World Junior bronze (Super G, downhill) and gold (combined), Maribor, Slovenia, February
· Geneviève Simard World Cup SG gold, Cortina d’Ampezzo, Italy, January
· Lauren Woolstencroft gold in Super G, Women’s Standing category, 2004 World Championships for Disabled, Wildschönau, Austria
· Canadian Disabled Alpine Ski Team – fourth out of 29 nations in the Nation’s Cup Title
· Canada’s Men’s World Junior Team best Canadian team performance in World Junior history, Maribor, Slovenia, February, 1st place.