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Gold/Mining/Energy : CIBC tse/cm -- Ignore unavailable to you. Want to Upgrade?

To: Conky Lives! who wrote (24)	1/22/1998 2:04:00 PM
From: Barron Von Hymen	Read Replies (1) \| Respond to of 147

Just released today: $1 billion in Asian loan exposure. Ouch. That's 1% of assets. Now trading at $36 and change (CDN) and dropping fast.

To: Conky Lives! who wrote (24)	1/22/1998 2:57:00 PM
From: Conky Lives!	Respond to of 147

newswire.ca CIBC DISCLOSES ASIAN ASSETS TORONTO, Jan. 22 /CNW/ - CIBC today disclosed details of its assets in selected Asian economies: (C$ millions) Loans and Interbank Deposits and Total Trade Finance Commercial Paper Indonesia 294 87 381 South Korea 211 94 305 Thailand 116 32 148 Malaysia 98 28 126 Philippines 27 38 65 Total 746 279 1024 These loans account for less than one per cent of CIBC's net loans and acceptances. ''We're satisfied with our position, which represents just seven per cent of regulatory capital, and with CIBC's risk management strategy in Asia,'' said Gerry Beasley, senior executive vice president, risk management. ''Our clients are generally major corporations and banks, and our positions are well diversified by country and sector. ''Nonetheless, it is a difficult time for the region. We are monitoring the situation closely and will take every appropriate measure to manage our risks as events in Asia unfold,'' Beasley said. CIBC is one of North America's largest financial institutions, with more than $238 billion in assets. Its two main operating businesses are Personal and Commercial Bank, which includes personal banking, commercial banking, insurance and international operations, and CIBC World Markets, which includes global corporate and investment banking. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches across Canada and offices around the world. %SEDAR: 00002543E -30- For further information: Contact Paul Howard in Toronto at (416) 980-4111; Rob McLeod in Toronto at (416) 980-3714; Peter McCreath in Halifax at (902) 428-4778; Sylvie Godin in Montreal at (514) 876-3473; Kevin Lightfoot in Winnipeg at (204) 944-5374; Tyra Henschel in Calgary at (403) 221-2403; David Hoff in Vancouver at (604) 665-4990; Debra Douglas in New York at (212) 856-4009