'America's Most Convenient Bank' Comes to Long Island; Commerce Bank To Open 60+ Branches Across Long Island.

Business Editors

CHERRY HILL, N.J.--(BUSINESS WIRE)--Nov. 2, 2001

Commerce Bancorp, Inc. (NYSE:CBH) today announced plans to open 60+ convenient bank branches throughout Long Island, NY over the next five years.

Commerce Bank's ambitious Long Island expansion plans will spark the creation of nearly 3,000 career opportunities ranging from tellers and branch managers to senior executives in lending and other phases of the bank's operation.

All of the locations will offer seven-day-a-week branch banking and free checking. Commerce will complement its Long Island branch network by providing customers with convenient access to America's best on-line banking site at commerceonline.com.

The first Long Island offices, scheduled to open in the spring of 2002, will be located in:

-- Seven-day branch banking

-- Free personal checking

-- Free Visa Check / ATM Card

-- Penny Arcade: free coin counting service

-- 1-800-Yes 2000, a full-service bank-by-phone system, open 24/7.

-- Award-winning on-line banking services

Additional offices under development include:

Nassau County                               Suffolk County
-------------                               --------------
Garden City                                 Babylon
Westbury                                    Islandia
East Meadow                                 Commack
Hicksville                                  Northport
Long Beach                                  East Northport
Farmingdale                                 South Huntingdon
                                            Smithtown
                                            Stony Brook
                                            Mount Sinai

Edward J. Blaskey, a longtime EAB/Citi Group executive who most recently headed EAB's Long Island commercial small business lending, will serve as Commerce Bank's Long Island Regional Vice President. While at EAB, Blaskey was responsible for managing a loan portfolio of more than $100 million. Earlier, he held executive lending positions with Chemical Bank in Manhattan and on Long Island.

Blaskey, a resident of Massapequa, serves on the Board of Action Long Island, a nonprofit civic/business organization devoted to improving the quality of life on Long Island.

Commerce Bank's Long Island management team will be led by Senior Vice President / Market Manager Christopher C. Giamo. Prior to joining Commerce in 1998, Giamo held executive management positions with CoreStates Financial Corp and Bank of New York.

Phyllis Marino, a resident of Garden City and former Senior Vice President of Retail Banking for Dime Savings Bank, will serve as Commerce Bank's Long Island Vice President / Senior Retail Officer.

Recognized nationwide for its unique retail strategy and intense focus on branch expansion, Commerce has grown to become "America's Most Convenient Bank" by championing a "whatever it takes" approach to meeting customers' needs.

Commerce Bank's hallmark products and services include:

-- Seven-day branch banking

-- Free personal checking

-- Free Visa Check / ATM Card

-- Penny Arcade: free coin counting service

-- 1-800-Yes 2000, a full-service bank-by-phone system, open 24/7.

-- Award-winning on-line banking services

Although many of the nation's largest banks are continuing to cut costs, raise fees and drive people away from traditional branch banking, Commerce is taking the exact opposite approach.

Commerce's unique business strategy focuses on providing customers with unsurpassed personalized service, convenience and quality products that enable them to do their banking wherever, whenever and in whatever way suits their needs.

"The response to the first two New York Commerce branches that opened in Manhattan in September has been tremendous, and we know the people of Long Island will welcome us with the same enthusiasm," said Commerce Chairman and President Vernon W. Hill. "Long Island residents should not be subjected to excessive fees, limited hours and poor service when they do their banking. We know they deserve the absolute best in convenient, customer-focused service. We're all about turning people into Commerce fans."

Commerce Bank's Long Island arrival is an integral part of a Metro New York expansion plan that will encompass 400+ branches, including 30+ throughout Manhattan. The next two Commerce offices in Manhattan, scheduled to open in December, will be located at:

-- Upper East Side - 64th Street and Third Avenue

-- Chelsea - 26th Street and Seventh Avenue

Along with all of its retail and commercial banking services, Commerce offers a full range of insurance services through its Commerce National Insurance Services division and an array of public finance services through Commerce Capital Markets.

Headquartered in Cherry Hill, New Jersey, Commerce has assets of nearly $11 billion and a network of 185 branches serving New Jersey, eastern Pennsylvania, northern Delaware and New York. Commerce is maintaining an aggressive expansion pace, working toward a total asset goal of $25 billion and a branch network of 375 offices by the year 2005.

For more information about Commerce, please visit the company's interactive financial resource center at commerceonline.com.