Commerce Bank and Jump Street Unveil First-of-Its-Kind Federally Registered Apprenticeship Program.

Business Editors/Education Writers

HARRISBURG, Pa.--(BUSINESS WIRE)--June 14, 2004

Commerce Bank/Harrisburg, NA

-- Features 6,432 Paid Hours of Job Training, Community Service

for Student Apprentices

-- Partnership Serves as Model for Other Non-Profits, Businesses

Commerce Bank/Harrisburg, NA, Chairman, President and CEO Gary L. Nalbandian and Jump Street Executive Director Robert C. Welsh today unveiled a first-of-its-kind program that blends on-the-job training, classroom instruction and community service to create a federally registered teller apprenticeship at the bank for Harrisburg city youth.

Commerce Bank is the first in Pennsylvania to establish a federally registered teller apprenticeship. The occupation of "teller" became apprenticable by the U.S. Department of Labor in 2003.

Commerce also is the first to fund a registered apprenticeship by way of Pennsylvania's educational improvement tax credit program. The program, administered by the state's Department of Community and Economic Development (DCED), authorizes tax credits for businesses that make contributions to qualifying organizations. Commerce will contribute $64,000 over two years to Jump Street.

Jump Street, a non-profit arts and community service organization, designed the program for Commerce Bank in conjunction with the Department of Labor and DCED.

"We are tremendously excited about our teller apprenticeship program and the many benefits it will provide to young people and the greater community," Nalbandian said. "Three teller apprentices will receive a combined 6,432 paid hours of on-the-job learning and experience plus job-specific education over two years. Additionally, the apprentices will support our longstanding collaboration with Jump Street's Gift of Music program, which brings the rewards of playing a musical instrument to children throughout our region."

Welsh, Executive Director of Jump Street, said, "Businesses need skilled workers. Junior and senior students need workforce training. As an incubator of programs that serve young people, Jump Street saw a way to meet the needs of both these groups, industry and students, by matching, for the first time, a federal job training program with a state educational improvement initiative. The pieces fit perfectly. In Commerce Bank's teller apprenticeship, we now have a model that we can take to other non-profit organizations and businesses."

Commerce Bank is awarding its teller apprenticeship positions to three Harrisburg School District high school juniors. The selection process consisted of an employment application, initial screenings and interviews - comparable to the hiring process for any other position within the bank.

The apprentices will each receive 2,000 hours of on-the-job training and 144 hours of related classroom instruction over two years beginning June 14. In addition to the apprentices' teller responsibilities, they will support the bank's partnership with Jump Street's Gift of Music program.

"Learning to play an instrument is a proven way for children to enhance their overall development and sense of self-esteem," Welsh said. "Many families, however, are unable to afford the cost of purchasing an instrument. Adding to the uniqueness of Commerce Bank's teller apprenticeship program, the apprentices will contribute a portion of their service to Jump Street's Gift of Music program to help us fulfill our mission of putting musical instruments in the hands of more kids."

Nalbandian and Welsh were joined at today's announcement at Commerce Bank's Downtown Harrisburg store on North Second Street, Harrisburg, by Rep. Tim Holden; Harrisburg Mayor Stephen R. Reed, Joseph Hersh, Regional Director of the Bureau of Apprenticeship and Training, U.S. Department of Labor; and Ted Knorr, Director of the Educational Improvement Tax Credit Grants Division, DCED.

"Registered Apprenticeship is a highly flexible training model combining on-the-job learning and related classroom instruction in which paid employees receive technical and practical training in skilled occupations," Rep. Holden said. "I commend Jump Street for the ingenuity put forth to design this innovative project, and Commerce Bank for being the first to bring it to life. The partnership between Commerce and Jump Street promises to be a win-win-win with benefits for all involved."

Mayor Reed said, "We applaud Commerce Bank and Jump Street for breaking new ground in the area of innovative education. Commerce's teller apprenticeship is an outstanding career opportunity for our city's students. It is a model example of how a business, non-profit and educational institution can work together to implement new ways for our young people to grow and succeed."

Robert Lynch, President and CEO of Americans for the Arts, the nation's leading non-profit organization for advancing the arts in America, said, "The program that Jump Street and Commerce Bank have cultivated together has the potential to become a training model for local arts agencies throughout the country."

Commerce Bank/Harrisburg opened its first office in Camp Hill, PA, in June of 1985. In the 19 years since, the bank has cultivated a unique retail model that has produced dynamic growth. The bank has doubled its number of branches in Pennsylvania in recent years, growing a network of 23 stores in Berks, Cumberland, Dauphin, Lebanon and York counties.

Commerce's hallmark products and services include seven-day branch banking, totally free checking, no-fee instant-issue ATM/Visa check card, free interactive Penny Arcade coin-counting machines, America's Best Online Banking and 24/7 Bank-by-Phone.

A subsidiary of Pennsylvania Commerce Bancorp Inc. (NASDAQ:COBH), Commerce Bank/Harrisburg currently has assets exceeding $1.1 billion and is working toward an asset goal of $2 billion and a branch network of 36 offices by 2006. Pennsylvania Commerce Bancorp shares the Commerce brand with the Commerce Bancorp Inc. (NYSE:CBH) network of banks headquartered in Cherry Hill, NJ.

For more information about Commerce Bank/Harrisburg, visit the bank's web site at commercepc.com.

This press release contains forward-looking statements concerning future events. Actual results could differ materially due to the following risks and uncertainties -- deteriorating economic conditions; increased competition; interest rate movements; market volatility in the securities markets; legislative or regulatory developments; merger-related synergies, savings and integration issues; technological changes; and other risks and uncertainties discussed in the company's reports filed from time to time with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on these statements. The Company undertakes no obligation to publicly release or update any of these statements.