Commerce Bank To Open a Branch in Atlantic City -- Full Service Office Will Be City's First New Bank In 25 Years.

ATLANTIC CITY, N.J.--(BUSINESS WIRE)--April 22, 1998--Commerce Bancorp Inc. (NYSE Symbol: CBH) announced Wednesday that it will be opening a new branch in Atlantic City this summer.

The office will be located at the intersection of Atlantic and Pennsylvania Avenues.

Commerce's distinctive prototype branch design, a key element of the bank's overall brand awareness strategy, will provide the pattern for the new facility. In addition to featuring a customer-friendly interior design, the new branch will incorporate three to four drive-thru lanes as an added convenience for patrons.

The bank's plans to build an office in Atlantic City marks the first time a new bank has opened a full-service branch in the city in 25 years.

"We are pleased to have the opportunity to play an important role in the second wave of economic revitalization that is gathering momentum in Atlantic City. As the region's fastest growing and largest locally-headquartered independent bank, we are committed to providing Atlantic City's year-round residents and growing number of visitors with convenient, quality banking services," noted Commerce Bank Chairman and President Vernon W. Hill II.

Hill added that the Atlantic City branch will be staffed with local banking professionals who have a thorough understanding of the surrounding community and are dedicated to providing the city's residents and business people with individualized service that is tailored to meet their needs.

In addition to the new branch in Atlantic City, Commerce operates five other Atlantic County branches located in - Absecon

- Brigantine

- Hammonton

- Northfield

- Somers Point.

During the course of 1998, Commerce plans to open 18 to 20 more new branches including an Atlantic County office in English Creek.

"Commerce Bank's decision to take part in the economic revitalization of Atlantic City by opening a new downtown branch is an exciting development," said Atlantic City Mayor James Whelan.

"In recent years, Commerce has taken an active role in helping Atlantic City address important social and redevelopment issues through its support of such organizations as Atlantic Human Resources and the Atlantic City Rescue Mission.

"Commerce also has made numerous commercial loans to local businesses in conjunction with the New Jersey Economic Development Authority. The new branch is just one more example of their commitment to serving the people of Atlantic City now and in the years to come."

The new branch will offer customers easy access to Commerce's full assortment of hallmark banking services including:

- Seven-day branch banking

- Free personal checking for the first year and with a $100 minimum

balance thereafter

- Commerce On-Line, the nation's easiest-to-use, most versatile

home banking system

- Yes 2000, a full service 24-hour bank-by-phone system

- Commerce Check Card, a combination MAC card and Visa debit card.

The bank also offers a broad range of insurance services through its Commerce Insurance Services division and an array of investment products and services through Commerce Capital Markets.

Commerce Bank, which opened its first office in Marlton, N.J. in 1973, has grown steadily over the past 25 years by adhering to its original commitment to providing quality, locally-based banking services. Today, Commerce operates a branch network of 76 offices serving Pennsylvania and New Jersey.

Commerce Bancorp, headquartered in Cherry Hill, N.J., is the region's fastest growing locally-managed independent bank with assets of $4.3 billion.

CONTACT: Commerce Bancorp

David Flaherty, V.P., corporate communications

Phone: [phone] Fax: [phone]

E-mail: [e-mail]