Commerce Bancorp Dividend Reinvestment and Stock Purchase Plan Notice.

Business Editors

CHERRY HILL, N.J.--(BUSINESS WIRE)--March 31, 2000

Commerce Bancorp, Inc. (NYSE Symbol: CBH) has offered for over eight years a Dividend Reinvestment and Stock Purchase Plan (the "Plan") for its shareholders.

The Plan offers holders of Commerce Bancorp common stock a simple and convenient method of investing cash dividends in additional shares of Commerce Bancorp common stock and the opportunity to purchase additional shares of Commerce Bancorp common stock by making voluntary cash payments on a monthly basis. Shares may be currently purchased at a 3% discount from the then market price.

At present, these voluntary cash payments may range from as low as $100 up to a maximum monthly purchase amount of $5,000. Under the Plan, the maximum monthly purchase amount is subject to change at the discretion of the Company.

Accordingly, effective with the first investment period to occur after the April 2000 Investment Date (which is on or about the 20th of April) the maximum monthly optional cash purchase amount will be reduced from $5,000 to $3,000 until further notice.

This action only affects the Stock Purchase Program and does not affect the Dividend Reinvestment Program. All other terms and conditions of the Dividend Reinvestment and Stock Purchase Plan, including the 3% discount, remain as set forth in the Plan's Prospectus dated March 5, 1999.