Commerce Bank Appoints Eric Pietras to Lead Government Contractor Lend

WASHINGTON, April 19 /PRNewswire-FirstCall/ -- Commerce Bank , "America's Most Convenient Bank," has appointed Eric Pietras Senior Vice President, Government Contractor Financing and Middle Market Commercial Lending, for Greater Washington D.C., the bank's newest market. Commerce has targeted 10 locations for development this year in Washington D.C., and Virginia, the first of an estimated 200 locations planned for the Metro Washington, D.C. / Baltimore region.

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Pietras, who has more than 22 years experience in financial services, will build and lead a new local team at Commerce Bank that will focus on serving the specialized needs of government contractors and small to middle market size businesses. Prior to joining Commerce, Pietras was group vice president and manager of the government contracting and technology group for Chevy Chase Bank, where he launched a successful government contracting and technology lending effort. Pietras' expertise and leadership in financial services and lending for federal contractors includes advising clients during mergers and acquisitions.

Pietras will work closely with Brian Monday, Commerce Bank's Senior Vice President / Market Manager for the region. Monday directs all Commerce Bank's retail and business banking operations in Greater Washington and also has dedicated experience in government contractor lending. Commerce Bank stresses the vital importance of having local bankers making local lending and banking decisions to benefit customers and is actively hiring other lending professionals in the area to serve retail and commercial customers in the Greater Washington area.

"Eric has an outstanding record of success and leadership in expert support for government contractors and technology companies, as well as a personal commitment to customer service," said Brian Monday. "We look forward to providing government contractors and other commercial clients with the expertise, premium level of service and unparalleled convenience for which Commerce Bank is known."

Commerce Bank recognizes the importance of establishing a specialty lending team to serve government contractors effectively and understands the unique challenges specific to this sector.

Commerce Bank offers a diverse portfolio of commercial banking services, and the bank's expert lenders work closely with customers to develop financing strategies that best meet their needs. Commerce specializes in:

- Government Contractor Financing - Not for Profit Banking - Small Business/SBA Lending - Healthcare Financing - Local Government Banking - Commercial Real Estate/Construction - Cash Management Financing - International Trade Finance - Middle Market Financing About Commerce Bank

Commerce Bank, "America's Most Convenient Bank(R)," is a leading retailer of financial services with more than 320 convenient stores in New Jersey, New York, Pennsylvania and Delaware. In 2005, the bank plans to open 55-plus new locations and create 1,800 new career opportunities throughout its markets. Headquartered in Cherry Hill, N.J., Commerce Bancorp has $32 billion in assets and, in first quarter 2005, achieved a deposit increase of 29% and earnings per share growth of 22%. For more information about Commerce, please visit the company's interactive financial resource center at commerceonline.com.

Forward-Looking Statements

The Company may from time to time make written or oral "forward-looking statements", including statements contained in the Company's filings with the Securities and Exchange Commission, in its reports to stockholders and in other communications by the Company, which are made in good faith by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, that are subject to significant risks and uncertainties and are subject to change based on various factors (some of which are beyond the Company's control). The words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," and similar expressions are intended to identify forward-looking statements. The following factors, among others, could cause the Company's financial performance to differ materially from that expressed in such forward-looking statements: the strength of the United States economy in general and the strength of the local economies in which the Company conducts operations; the effects of, and changes in, trade, monetary and fiscal policies, including interest rate policies of the Board of Governors of the Federal Reserve System (the "FRB"); inflation; interest rates, market and monetary fluctuations; the timely development of competitive new products and services by the Company and the acceptance of such products and services by customers; the willingness of customers to substitute competitors' products and services for the Company's products and services and vice versa; the impact of changes in financial services' laws and regulations (including laws concerning taxes, banking, securities and insurance); technological changes; future acquisitions; the expense savings and revenue enhancements from acquisitions being less than expected; the growth and profitability of the Company's non- interest or fee income being less than expected; unanticipated regulatory or judicial proceedings; changes in consumer spending and saving habits; and the success of the Company at managing the risks involved in the foregoing.

The Company cautions that the foregoing list of important factors is not exclusive. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.