American Council On Education Recommends Commerce University Courses for College Credits.

Business Editors/Banking & Education Writers

CHERRY HILL, N.J.--(BUSINESS WIRE)--Dec. 13, 2001

Commerce Bancorp, Inc. (NYSE:CBH) has announced that several courses provided through its Commerce University have received expanded credit recommendations from the American Council on Education (ACE).

Commerce is one of the few banks in the country where it is possible to earn college credit through its own training program. Employees may be able to apply these credit recommendations to college degree programs in which they are participating, or in which they plan to enroll.

The "credit recommendations" offered by ACE are based on a review conducted by a team of college faculty experts who decide the amount and level of academic college credit that should be recommended for the course. These credit recommendations have been recognized and accepted by more than 1,100 colleges and universities.

Commerce University's Centralized Customer Service Training has been recommended for three credits by the American Council on Education's College Credit Recommendation Service. ACE also has recommended that Commerce's Certified Consumer Lending Program be eligible for six credits.

Credit recommendations for Commerce University's training program for its Customer Service Representatives have been expanded from three to six credits by ACE. Commerce's Professional Teller training courses already have been recommended for three credits.

Commerce University, founded by Commerce Chairman and President Vernon W. Hill in 1992, is modeled after the Walt Disney Company's Disney University and McDonald's Hamburger U. Commerce University provides an array of educational programs designed to develop the skills and broaden the knowledge of employees working throughout the Commerce family of companies including Commerce Bank, Commerce National Insurance Services, and Commerce Capital Markets.

Employees who successfully complete a certificate, degree, or advanced training program are rewarded with Commerce Bancorp stock options.

First and foremost, the role of Commerce University is to ensure that all Commerce employees are steeped in the Commerce customer-focused culture - the unique retail approach Commerce has taken toward banking. Commerce University is dedicated to the Commerce service philosophy of exceeding customer expectations by enhancing their retail experience.

The University offers nearly 1,700 courses to employees each year - filling more than 15,000 enrollments annually. Commerce University's extensive curriculum has been created to meet the needs of new employees, as well as those working toward numerous career advancement opportunities emerging from Commerce's "promote from within" policy. And all are geared to ensuring customers' expectations are exceeded.

Commerce University comprises seven "schools" primarily related to Commerce's areas of operation:

-- School of Retail Banking

-- School of Lending

-- School of Operations

-- School of Insurance

-- School of Administrative Banking

-- Specialized Studies

-- Generalized Studies

Within each of the University's seven schools, there are a variety of programs grouped by level of difficulty. Programs are job-specific, enabling employees to expand their knowledge of current responsibilities via the career guides.

Additionally, because Commerce Bank focuses on providing an excellent retail experience for its customers, students at Commerce University are given "shopping" assignments at retail chains such as Home Depot, Circuit City, Lowe's Home Improvement, competitor banks, and even hotels such as the Ritz and the Four Seasons.

Students are instructed to look for such retail experiences as consistency of delivery and customer care, among others.

Commerce University's customer relations classes and supreme attention to detail help perpetuate Commerce's retail philosophy of being "America's Most Convenient Bank".

Headquartered in Cherry Hill, New Jersey, Commerce has assets of more than $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.