Prominent Banking Counsel Michael D. Shepard Joins Commerce Bank

Business Wire, Oct 26, 2004

CHERRY HILL, N.J. -- Commerce Bancorp Inc. (NYSE:CBH) announced today that Michael D. Shepard, a banking regulatory expert, has joined Commerce as a Senior Vice President. Shepard will head the company's Bank Secrecy Act unit.

Shepard, a former partner with the law firm Blank Rome L.L.P. in Philadelphia, Pa., specialized in a wide range of banking compliance, internal corporate investigation and banking litigation matters for more than a decade. He has written numerous articles and lectured frequently on anti-money laundering and related topics.

Shepard also was a federal prosecutor with the U.S. Department of Justice's Tax Division where he prosecuted criminal tax, money laundering and related white-collar crimes. As part of his duties, he was the Tax Division's liaison attorney to the Los Angeles-Nevada Organized Crime Drug Enforcement Task Force.

"Michael Shepard is an excellent addition to our management team, and he will provide us with extremely valuable bank regulatory and compliance expertise," said Commerce Bank Senior Vice President of Risk Management David Wojcik.

About Commerce Bank

Commerce Bank, "America's Most Convenient Bank," is a leading retailer of financial services with 300-plus convenient stores in New Jersey, New York, Pennsylvania and Delaware. In 2004, the bank plans to open 50-plus new locations and create 1,800 new career opportunities throughout its territory. Commerce Bancorp (NYSE:CBH) has $28.4 billion in assets and, in third quarter 2004, achieved a deposit increase of 34% and earnings per share growth of 25%. For more information about Commerce, please visit the company's interactive financial resource center at commerceonline.com.