Commmerce Bank Opens in Manhattan's Renowned Ansonia Hotel Building; Newest Branch Features Video Panorama Showcasing Hotel's Colorful Past.

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 13, 2002

Commerce Bancorp, Inc.'s (NYSE:CBH) newest Manhattan branch, which opened on Friday, November 8 in the renowned Ansonia Hotel Building at 74th Street and Broadway, features a unique multi-screen video panorama that captures the hotel's colorful past.

The specially created video presentation documents the life and times of the Ansonia by showcasing photos, illustrations and other memorabilia obtained from the National Archives, The Library of Congress, The Museum of the City of New York, Ansonia Management and various private collections. Among the hotel's famous residents saluted in the video are:

        Babe Ruth           Enrico Caruso
        Flo Ziegfeld        Jack Dempsey
        Tony Curtis         Sergei Rachmaninoff
        Igor Stravinsky     Arturo Toscanini

The video also chronicles the efforts that have led to the restoration of the Ansonia and life at the famous building today.

Upon its completion in 1904, the Ansonia was the largest residential hotel of its day. The hotel offered every luxury including the world's largest indoor swimming pool, fresh eggs provided by chickens in the rooftop farm, and Turkish baths. In the lobby, seals frolicking in the hotel's fountain greeted guests.

Customers who visit the new Commerce branch will find the video panorama comprising three 60-inch screens in the rotunda above the bank's main entrance vestibule. The presentation runs approximately five minutes and repeats continuously throughout the course of the day.

"The reception we have received in New York over the past year has been outstanding, and we felt it was important to express our thanks in a unique way," said Commerce Chairman and President Vernon W. Hill. "The Ansonia tribute not only captures the colorful past of the great building where our branch is located, it also reflects our commitment to preserving and showcasing New York City's remarkable history."

In addition to creating the Ansonia video tribute, Commerce has restored various features of the building's unique architecture. At both sides of the entrance, two large scrolls that had disappeared over the years are now uncovered. A large bronze-trimmed ornate street-level window that had been covered over for nearly 50 years also has been uncovered and restored to its original majesty. A large (6' X 20') mural featuring Babe Ruth at bat is another element of the new Commerce branch design that celebrates New York City's rich history.

Along with opening the branch in the Ansonia, Commerce unveiled two other Manhattan offices in early November at:

              Gramercy Park:            32nd Street & Park Avenue
              Upper East Side:          77th Street & Second Avenue

The Park Avenue office is both a full service retail branch and Commerce's Manhattan headquarters.

Commerce also will open another new branch in December at:

              Upper West Side:          68th Street & Broadway

The bank has built a network of 10 branches throughout New York City since making its Manhattan debut just over a year ago.

Commerce Bancorp is one of the nation's fastest-growing financial service retailers with assets exceeding $15 billion and a rapidly expanding network of nearly 220 branches. Commerce maintains an aggressive expansion pace, working toward a total asset goal of $25 billion and a branch network of 375 offices by the year 2005. The bank will add 41+ new locations throughout New York, New Jersey, eastern Pennsylvania and Delaware by the end of 2002.

For more information about Commerce, please visit the company's interactive financial resource center at commerceonline.com, or David Flaherty, Vice President, Corporate Communications, at 856/751-4069.