News from CNW Group

CIBC Mellon is Subcustodian of Choice for the Nordea Group

Thursday, October 30, 2003

TORONTO, Oct. 30 /CNW/ - CIBC Mellon has been selected as subcustody provider for Nordea, the leading financial services group in the Nordic and Baltic Sea region. With this appointment, CIBC Mellon becomes the primary Canadian subcustody provider to Nordic financial services companies.

"We look forward to the benefits that we will derive from CIBC Mellon's technology and personal service," said Nordea's Cathrine Asheim, network manager in charge for Canada. "CIBC Mellon consistently has demonstrated its commitment to investing in technology and client service."

"The appointment by Nordea is a key win for CIBC Mellon," said Thomas C. MacMillan, CIBC Mellon's president and chief executive officer. "The new relationship supports our dedication to bringing the best technology to market, and we are pleased to have the opportunity to build a long-lasting client partnership with Nordea."

CIBC Mellon is a 50-50 joint venture between Canadian Imperial Bank of Commerce and Pittsburgh-based Mellon Financial Corporation. Through the combination of world class technology and superior client service, CIBC Mellon is uniquely qualified as a corporate services provider of domestic and global custody, securities lending, multicurrency accounting, information delivery and foreign exchange services in Canada. The Mellon Group - CIBC Mellon, ABN AMRO Mellon Global Securities Services and Mellon Global Securities Services - represents more than US$3.1 trillion in global assets under custody, administration and management. CIBC Mellon Global Securities Services Company is a sister company to CIBC Mellon Trust Company, a leader in Canadian stock transfer and corporate trust businesses. Visit CIBC Mellon's Web site at www.cibcmellon.com.

/For further information: Jennifer Mehra, Manager, Public Relations and Communications, CIBC Mellon (416) 643-6368/