Commerce Bank Customers to Receive Preferred Auto Insurance Discounts.

Business Editors

CHERRY HILL, N.J.--(BUSINESS WIRE)--March 22, 2000

Commerce National Insurance Services, a wholly owned subsidiary of Commerce Bancorp, Inc. (NYSE Symbol: CBH), announced today that it will begin providing Commerce Bank customers with an exclusive new insurance program that features a full range of discounted auto and homeowners insurance.

The new Commerce Insurance Advantage program reinforces Commerce's focus on providing customers with the region's most convenient and economical banking and insurance services.

The Commerce Insurance Advantage, which will be administered by Commerce National Insurance Services, offers auto coverage that includes:

-- Liability

-- Comprehensive (theft, fire, etc.)

-- Collision

The Commerce Insurance Advantage program for homeowners includes coverage for:

-- Homeowners

-- Condominium owners

-- Renters

-- Valuable Items (jewelry, furs, fine arts)

-- Dwellings

-- Watercraft

-- Excess Liability

"We are pleased to offer our customers another value added financial service and provide them with a single convenient source for all of their banking and insurance needs," said Commerce Bancorp Chairman and President Vernon W. Hill.

Commerce Insurance Advantage customers will benefit from insurance rates that are among the lowest offered in the region. They will also be provided with 24-hour claims adjustment services delivered by knowledgeable insurance experts who can process their claims immediately, seven days a week.

In keeping with the Commerce emphasis on convenience, customers will be able to obtain information on the Commerce Insurance Advantage program at any one of the 120 Commerce Bank branches in New Jersey, Pennsylvania and Delaware.

Customers will also be able to access material regarding the Commerce Insurance Advantage program through the Bank's interactive online financial services resource center at www.commerceonline.com, or by calling a special toll-free hot line at 877/396-3800 in New Jersey or 800/441-9707 in Pennsylvania and Delaware.

Commerce customers will be given the option of having their premiums deducted automatically from their Commerce Bank checking account.

Commerce National Insurance Services, the nation's 20th large insurance brokerage firm, provides a full range of commercial and personal lines of insurance and administers employee benefits and risk management programs for public and private sector clients throughout the Mid-Atlantic region.

Commerce Bancorp, the region's fastest growing independent financial services retailer, specializes in providing a full range of banking, insurance and public finance services. Headquartered in Cherry Hill, New Jersey, Commerce has assets of $6.6 billion and a network of 120 branches serving Pennsylvania, New Jersey and Delaware.

For more information about Commerce, visit the company's interactive financial resource center on-line at www.commerceonline.com.

For more information contact Vice President Of Corporate Communications David Flaherty at 856/751-4069.