American Stock Exchange News Release

Equity Release
Media Contact: Mary Chung
American Stock Exchange
212-306-1641/ mary.chung@amex.com

CIBC WORLD MARKETS LAUNCHES INCOME DEPOSIT SECURITIES ON AMEX
A brand new equity offering introduced to the U.S.
NEW YORK, December 5, 2003  -  The American Stock Exchange (Amex) announced today the launch of an exciting new product category from CIBC World Markets called Income Deposit Securities, or IDS, which made their debut on the Exchange with the initial public offering of Volume Services America Holdings, Inc.

IDS are yield-oriented securities that consist of debt and common stock of a single company paired together into a single unit for trading purposes. CIBC expects IDS to be an attractive new investment opportunity for investors searching for high yield, safety and stability following a three-year bear market. IDS are designed to distribute nearly all of a company’s free cash flow to investors in the form of interest payments on notes and expected dividend payments on the common stock.

William Schreier, managing director of Equity Capital Markets at CIBC World Markets, said, "We're excited about launching this innovative new product category on the Amex. In today’s market environment, there is a growing demand for new investment opportunities designed to provide an attractive current yield and total return to investors. We believe that Income Deposit Securities have that appeal."

John McGonegal, vice president of Amex Equity Sales, said, "The Amex is proud to continue its tradition of bringing innovative equity offerings to the marketplace. CIBC World Market's decision to introduce Income Deposit Securities to the U.S. on our exchange is an exciting way for us to cap off a strong year in equity listings.

The Amex does not endorse any particular security or market participant. For investment objectives and policies, potential risks, fees and other information, read the prospectus carefully before investing.

The American Stock Exchange® (Amex®) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 126 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.

About CIBC World Markets

CIBC World Markets is an investment bank that delivers innovative, full-capital structured solutions to growth-oriented companies. CIBC World Markets is the subsidiary of CIBC, Canada's leading investment bank. In the United States, CIBC World Markets is among the fastest growing investment banks, with exceptional strengths in underwriting, M&A advisory, equity research, high yield, and securitization. In North America, CIBC is active in all capital markets, offer the highest standard of industry expertise across more than a dozen industries, and provide top-ranked equity research.

Information in this message reflects current market conditions and is subject to change without notice. It is believed to be reliable, but is not guaranteed for accuracy or completeness. Details provided do not supersede your normal trade confirmations or statements. Any product is subject to prior sale. CIBC World Markets Corp, its affiliated companies, and their officers or employees, may have a position in or make a market in any security described above, and may act as an investment banker or advisor to such. Although CIBC World Markets Corp. is an indirect, wholly owned subsidiary of Canadian Imperial Bank of Commerce ("CIBC"), it is solely responsible for its contractual obligations. Any securities products recommended, purchased, or sold in any client accounts (i) will not be insured by the FDIC, (ii)will not be deposits or obligations of CIBC, (iii) will not be endorsed or guaranteed by CIBC, and (iv) will be subject to risks, including possible loss of principal invested.