August 16, 2013

CARDS II Trust announces support for the ratings of its outstanding credit card receivables backed notes

TORONTO--CARDS II Trust is announcing that it intends to take the steps that are necessary to support the current ratings of its outstanding Series 2010-3, 2011-4, 2012-1, 2012-2, 2012-3, 2012-4, 2013-1 and 2013-2 credit card receivables backed notes (collectively, the "Notes"), including entering into arrangements to provide additional credit enhancement to the Notes.

As disclosed by CIBC on August 12, 2013, there are ongoing active discussions among CIBC, TD, and Aimia about a broad framework that would see CIBC sell approximately 50 per cent of the current Aerogold portfolio to TD with the accounts being divested consisting primarily of credit card only clients. The parties are actively working to reach an agreement, complete due diligence and finalize definitive documentation by August 26, 2013. There can be no assurances that an agreement will be reached. Changes in the composition of the credit card receivables portfolio supporting the Notes may impact the ratings of the Notes.

This is not an offer to sell or a solicitation of any offer to buy any securities. Offers are made only by prospectus or other offering materials. The securities issued by CARDS II Trust have not been registered under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws in the United States.





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