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Press release, Hanover, 16 December 2002 Deutsche Hypo sets price for new shares In its meeting held on 13 December 2002, the Board of Managing Directors of Deutsche Hypothekenbank (Actien-Gesellschaft), Hanover, set the price of the new shares at EUR 235. This decision was approved by the bank's Supervisory Board. ING BHF-BANK has underwritten the new shares resulting from the capital increase at the subscription price and undertakes to offer them to the shareholders for subscription. As the capital increase is expected to be recorded in the relevant commercial registers before the end of this month, Deutsche Hypo is likely to show higher equity capital as at the end of the year. ING BHF-BANK plans to offer the new shares to the shareholders for subscription starting in the second week of January 2003. Given the subscription ratio of 3 : 1, this will result in an increase of approx. EUR 80 million in the bank's equity capital. ING BHF-BANK, being the major shareholder in Deutsche Hypo with approx. 83% of the bank's share capital, will fully subscribe the shares to which it is entitled. As reported back in October this year, this capital increase is to provide scope for the bank's further business expansion. For further information please contact: Markus Nitsche Head of Marketing and Sales Georgsplatz 8 30159 Hannover Telefon: +49 511 3045-580 Telefax: +49 511 3045-589 E-Mail: Markus.Nitsche@Deutsche-Hypo.de |
