Press Release

CIBC Mellon is proud to be named best sub-custodian bank in Canada by Global Finance magazine

Toronto, May 7, 2007 - CIBC Mellon Global Securities Services Company announced today that it has been recognized as the best sub-custodian in Canada by Global Finance magazine in its 2007 survey to measure the reliability of custody services provided in local markets and regions to global custodians.

“We are very proud to receive the award for best sub-custodian in Canada, and pleased that our clients’ positive experiences are known and recognized in the industry,” said Thomas C. MacMillan, CIBC Mellon president and chief executive officer. “This achievement is a testament to our employees’ abilities to deliver this critical global investing service in a manner that is professional, smooth and reliable.”

The annual survey, now in its fifth year, solicits feedback from Global Finance editors, reporters and other expert sources such as analysts, ratings agencies, consultants, customers and others involved in the industry to assess:

• Customer relations
• Quality of service
• Competitive pricing
• Smooth handling of exception items
• Technology platforms
• Post-settlement operations
• Business continuity plans
• Knowledge of local regulations and practices

To receive this award, sub-custodians are assessed on the above criteria to determine the provider with which most companies around the world are most likely to want to do business.

Details of the survey results will be published in the July/August edition of Global Finance.   The awards will be presented at the annual meetings of the International Monetary Fund and World Bank in Washington, DC in October.

CIBC Mellon is a 50-50 joint venture between Canadian Imperial Bank of Commerce and Mellon Financial Corporation.  CIBC Mellon Global Securities Services Company is a leading provider of custody services including global custody, multicurrency accounting, information delivery, securities lending and foreign exchange services in Canada.  CIBC Mellon is part of The Mellon Group (CIBC Mellon, ABN AMRO Mellon Global Securities Services and Mellon Global Securities Services), which has US$5.8 trillion in assets under management, administration or custody, including US$1.034 trillion under management.   CIBC Mellon Global Securities Services Company is a sister company to CIBC Mellon Trust Company. 

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Contact:  Cheryl Ficker, director, corporate affairs, CIBC Mellon 416-643-636