New Dividend Growth Deposit Notes available from CIBC and Manulife Investments ( June 6,2006)











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FOR IMMEDIATE RELEASE
June6, 2006

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New Dividend Growth Deposit Notes available from
CIBC and Manulife Investments

Toronto –Canadian investors can benefit from a new principal protected investment that generates potential returns based on the performance of two mutual funds – one specializing in dividend-paying companies, the other specializing in growth-oriented companies.

The CIBC Manulife Investments Dividend Growth Deposit Notes, Series 1, launched May 29, 2006, is a unique investment offered by CIBC that is linked to the performance of two mutual funds managed by Manulife Mutual Funds – the Elliott & Page Canadian Equity Fund and the Elliott & Page Dividend Fund. The Deposit Notes also provide full principal protection at maturity by CIBC.

“Many investors are unsure if they should invest in established companies that pay dividends, or in growing companies that have the potential to generate capital gains,” says Bob Tillmann, Vice President, Marketing and Business Development at Manulife Investments. “The Deposit Notes let people invest in both types of companies in a single investment. Plus, they get the security of knowing their original investment is completely protected at the end of the 5 ½ year term.”

According to Tillmann, these new Deposit Notes are designed to help three types of investors:

Conservative investors with substantial cash who remain extremely risk-sensitive but want the potential for higher returns than currently available from traditional savings accounts or Guaranteed Investment Certificates;

Fixed-income investors who are hesitant to lock in their investments for the long term at today’s interest rates;

Canadian equity investors who want the potential for their investments to keep growing, but also want to protect their principal.

Assets invested in the Deposit Notes are initially allocated equally between the two underlying funds. As markets fluctuate, investors can benefit from the Deposit Notes’ dynamic allocation strategy. This strategy responds to market conditions by increasing exposure to the funds when market performance is positive and reducing exposure to the funds and allocating assets to a bond account when market performance is negative. In this way, the Deposit Notes can enhance investors’ returns and provide downside protection over time.

If the value of the Deposit Notes rises by the maturity date, investors will receive an interest payment that equals the difference between their original investment and the Deposit Notes’ net asset value (NAV) at maturity. No interest will be paid if the NAV of the Deposit Notes is less than $100 on the maturity date. Regardless of fund performance, the investors’ original investment will be fully repaid at the end of 5½ years.

Additional features of the Deposit Notes include:

Automatic 100% reinvestment of fund distributions;

Potential for tax-deferred growth;

Leverage potential of up to 200% exposure in the underlying funds;

No cap or maximum amount of interest payable at maturity;

Potential ability to sell the Deposit Notes to CIBC World Markets Inc. prior to maturity (subject to availability).

The CIBC Manulife Investments Dividend Growth Deposit Notes, Series 1, allow investors to benefit from the professional management of the two underlying funds:

The Elliott & Page Dividend Fund, led by Alan Wicks, who has built a portfolio of value and income assets worth more than $6 billion (as at March 31, 2006).

The Elliott & Page Canadian Equity Fund, led by Shauna Sexsmith, who is one of the country’s most consistent growth managers and directs a portfolio of large cap growth assets worth more than $400 million (as at March 31, 2006).

The CIBC Manulife Investments Dividend Growth Deposit Notes are sold by advisors licensed by the Investment Dealers Association of Canada and licensed mutual fund dealers. The Deposit Notes are available for purchase until July 14, 2006. Details regarding this investment product, including a discussion of risk factors relating to the Deposit Notes, are contained in the Information Statement that can be obtained from your financial advisor.

CIBC World Markets is a wholly-owned subsidiary of CIBC. CIBC is a leading North American financial institution providing financial services to more than nine million customers, including retail and small business banking customers, as well as corporate and investment banking customers.

Manulife Investments is the brand name describing certain Canadian subsidiaries and operating divisions of Manulife Financial Corporation offering wealth management products and services. Manulife Financial is a leading Canadian-based financial services group serving millions of customers worldwide. Assets under management by Manulife Financial and its subsidiaries were Cdn$386 billion (US$330 billion) as at March 31, 2006.

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For further information:

For Manulife Financial		For CIBC
Tom Nunn Assistant Vice President, Media Relations (519) 594-8578		Susan McDougall Director, CIBC Communications and Public Affairs (416) 980-4047