(EMAILWIRE.COM, March 14, 2002 ) Commerce Bancorp, Inc. (NYSE Symbol: CBH) has announced it has elected the following distinguished executives to its Board of Directors:

Donald T. DiFrancesco - Former Governor of New Jersey
George E. Norcross III - Chairman of Commerce National Insurance Services
DiFrancesco served as the President of the New Jersey Senate for a decade and was first elected to the Senate's top post in 1992. He was the Acting Governor of New Jersey from January 31, 2001 through January 8, 2002.

DiFrancesco, of Scotch Plains, New Jersey, was first elected to the New Jersey General Assembly in 1976, where he served for three years. In 1979, he was elected to the New Jersey Senate, where he represented District 22, which includes Middlesex, Morris, Somerset and Union Counties. DiFrancesco served for three years as the Senate Minority Leader. He is a graduate of Penn State University and Seton Hall School of Law. DiFrancesco is a partner in a Warren, New Jersey, law firm.

Norcross is the Chairman and Chief Executive Officer of Commerce National Insurance Services (CNIS), a wholly owned subsidiary of Commerce Bancorp. CNIS, with an annual premium volume that exceeds $600 million and 130,000 clients in 25 states, is the nation's 24th largest insurance brokerage firm and the largest in the Mid-Atlantic region.

Norcross has served as a Trustee of the Cooper Health System since 1990, and he currently serves as Vice Chairman of the Board of Trustees.

Commerce Bancorp is one of the nation's fastest-growing financial services retailers with $12 billion in assets and a rapidly expanding network of 185 branches. Commerce is maintaining 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 plans to add 40 new locations throughout New York, New Jersey, eastern Pennsylvania and Delaware during 2002. For more information about Commerce, please visit the company's interactive financial resource center at www.commerceonline.com.

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Produced for Commerce Bankcorp

Contact:
David Flaherty
Commerce Bancorp, Inc.
856/751-4069

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Contact Information:
Commerce Bancorp, Inc.
Joseph Nchor
Tel:
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