Your Guaranteed Investment Solutions

Franklin Templeton Investments in association with CIBC is pleased to announce two new solutions in the popular FULPAY series.

Available until June 4, 2004

FULPAY PLUS Franklin Templeton Investments – Linked Deposit Notes, Series 3 The Best-of Strategy. Guaranteed.

And

FULPAY STAR Franklin Templeton Investments – Linked Deposit Notes, Series 1 Growth and Security. The Best of Both Worlds.

Your Guaranteed Investment Solutions

FULPAY PLUS Franklin Templeton Investments – Linked Deposit Notes, Series 3, is a unique investment solution featuring the Best-of Strategy. FULPAY PLUS allows you to receive interest at maturity, if any, based on the average of the best returns locked in each year from the available funds in a diversified basket of proven Franklin Templeton Investments mutual funds.

FULPAY STAR Franklin Templeton Investments – Linked Deposit Notes, Series 1, is a low-risk investment that provides the potential for solid long-term gains, based on the equally weighted average of the underlying funds’ returns from the issue date to each of 20 quarterly averaging dates. This solution offers you the growth potential of a diversified basket of funds, with 100% principal protection.

As a great addition to your portfolio, the Notes provide:

• 100% principal protection at maturity
• Potential for stronger returns over investments like GICs
• No hidden expenses
• 100% RSP eligibility
• Competitive compensation
• An opportunity to streamline and consolidate your business and;
• Potential tax efficiencies

For more information about either of these FULPAY investment solutions please contact your Franklin Templeton Investments sales manager at 1.800.897.7286

FULPAY PLUS is a trademark of Canadian Imperial Bank of Commerce.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.