Exhibit 99.1
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For Immediate Release

                   STAPLES VICE CHAIRMAN JOSEPH S. VASSALLUZZO
                             STANDS FOR ELECTION TO
                       COMMERCE BANCORP BOARD OF DIRECTORS

April 13, 2005 - Cherry Hill, N.J. - Commerce Bancorp, Inc. (NYSE:CBH) announced
today that Joseph S. Vassalluzzo, an integral part of Staples' dynamic growth,
will stand for election to the Commerce corporate board during the company's
annual shareholders' meeting on May 17, 2005.

Vassalluzzo is Vice Chairman of Staples, Inc., the world's leading seller of
office products. Since joining the company in 1989, he has been responsible for
Staples' rapid expansion from 30 to more than 1,500 retail stores in the U.S.
and Canada. Vassalluzzo also has developed more than 200 retail stores in the
United Kingdom, Germany, the Netherlands, Portugal and Belgium. In addition, he
has directed the creation of numerous distribution hubs, offices, call centers
and other support facilities. Among other responsibilities, Vassalluzzo has
managed real estate for Staples' catalog delivery divisions; Staples Business
Delivery and Quill Corporation, the contract stationer divisions, which include
Staples Business Delivery Advantage and Staples National Advantage; its
E-Commerce division, Staples.com; and Staples European Catalogue.

"I am looking forward to joining another dynamic retailer that is well-known for
its rapid growth and customer service focus," said Vassalluzzo. "Commerce and
Staples share similar success stories, and I am excited about being part of the
team that will help lead the bank's future expansion."

Prior to joining Staples, Vassalluzzo held senior management positions in sales,
operations and real estate for Mobil Corp and Amerada Hess Corp. In addition, he
served as President of American Stores Properties, Inc. where he managed a $2
billion retail real estate portfolio that included Acme Markets, Inc., Jewel
Food Stores, Lucky Food stores, and Osco drugstores.

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Joseph S. Vassalluzzo / Commerce Bancorp - page two

"Joe Vassalluzzo shares our `power retailer' mentality and will be an excellent
addition to Commerce Bancorp's Board of Directors," said Commerce Chairman and
Founder Vernon W. Hill. "His experience in leading a rapidly growing company and
building a nationally recognized brand will be of great benefit to Commerce."

Commenting on another Commerce Bancorp board matter, Hill noted with sadness
that founding board member Robert C. Beck passed away suddenly on April 5, 2005.
Beck was one of the southern New Jersey businessmen who had the vision and
determination to help create and launch Commerce Bank in 1973. During his more
than 30-year association with the bank, Beck played a key role in the ongoing
growth and success of Commerce. "Bob's unwavering belief in the power of the
Commerce model and his devotion to the bank, our senior management team and
employees were invaluable," said Hill. "Bob will be greatly missed by everyone
at Commerce."

Commerce also announced that corporate board member Joseph J. Plumeri, Chairman
and CEO of Willis Group Holdings Limited, will not stand for re-election at the
May 17, shareholders' meeting due to time constraints and other professional
responsibilities.

About Commerce Bank
Commerce Bank, headquartered in Cherry Hill, New Jersey, is a leading retailer
of financial services with 319 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. For more
information about Commerce, please visit the company's interactive financial
resource center at commerceonline.com.

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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;

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Commerce Bank - page three



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.


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