Commerce Insurance Services is Nation's First Agency to Give Customers Visa Extras Rewards Points

CHERRY HILL, N.J., May 26 /PRNewswire-FirstCall/ -- Commerce Insurance Services (CIS), a wholly owned subsidiary of Commerce Bancorp, has just unveiled a new Visa(R) Extras rewards program for its personal insurance customers in New Jersey. Commerce Insurance is America's first insurance agency to give New Jersey customers Visa(R) Extras rewards points when they purchase personal lines insurance. The new program is the latest step Commerce has taken to enhance the service experience that it delivers to customers every day.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050104/PHTU036LOGO )

Customers will receive 2,000 bonus points for each new policy, plus one Visa Extras rewards point for every Dollar of their total premium, up to a maximum of 11,000 points per policy per year. Personal lines coverage eligible for Visa Extras rewards points includes:

-- Auto -- Home Owners -- Umbrella -- Watercraft /Boat -- Flood

"Our new Visa Extras rewards program is another example of Commerce Insurance's commitment to provide our customers with value-added services they won't find at other insurance agencies," said CIS Chairman and Chief Executive Officer George E. Norcross III. "This new program adds another exciting dimension to the great rates and outstanding service we deliver to our customers every day, around the clock, 24/7."

Customers must hold a Commerce Bank Visa Check Card or Credit Card and be enrolled in the Visa Extras rewards program to take advantage of this new benefit. In addition, the property or vehicles insured must be registered or deeded in New Jersey. This new program was reviewed by the New Jersey Department of Banking and Insurance to assure compliance with state insurance regulations.

By simply using their enrolled Commerce Bank Visa Credit or Check Card to make qualifying purchases, cardholders have the opportunity to earn rewards points that can be redeemed for unique goods and services from the Visa Extras catalog. Cardholders have the ability to redeem their points often for easy-to-attain, everyday rewards, or save up for larger rewards such as a Belmont Stakes hospitality package.

The Commerce Insurance Services Difference

Commerce Insurance's approach to claims separates Commerce from its competitors. CIS professionals are accessible 24 hours a day, seven days a week. CIS also has draft authority for many of its carriers, which enables claims representatives to settle and pay many claims easily and quickly.

About Commerce Insurance Services

Commerce Insurance Services (CIS) is America's 24th largest insurance agency. Since its inception in 1996, strong internal growth and a series of carefully planned acquisitions have fueled the success of CIS.

With an annual premium volume of $850 million and a network of 14 offices, CIS provides a complete range of commercial, employee benefit and personal insurance coverage to more than 130,000 clients in all 50 states. In recent years, CIS also has expanded its focus to include developing specialty insurance practices to serve clients whose needs extend beyond more traditional commercial insurance coverage, including in the fields of:

- Education - Public entity - Executive Risk - Hospitality & Gaming - Life science - Financial services - Biotechnology research - Environmental - Healthcare - Professional liability - Construction - Risk Control - Non-Profit - Surety 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 50-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.

Terms and Conditions of CIS's offer of Visa Rewards Points

Visa Extras rewards points are available to Commerce Bank Visa Check Card or Credit Card Customers who are New Jersey residents and have purchased policies for property deeded or registered in the state of New Jersey. Actual total Visa points rewarded will be based upon the total policy premium shown on the policy issued by the insurance company. The insurance policy coverage must continue in-force for at least 60 days. Customers must enroll in the Visa Extras rewards program within 90 days of the effective date of their insurance policy. After 90 days, points eligibility expires. Visa Rewards points are being offered in compliance with New Jersey state insurance regulations.

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.