Ad-hoc - Reports in accordance with article 15 WpHG


Deutsche Hypothekenbank (Actien-Gesellschaft) / Corporate Action

2008/10/29  Ad hoc announcement

Today, Deutsche Hypothekenbank (Actien-Gesellschaft), Hannover, took the decision to undertake a value adjustment totalling €25.77 million for its exposure of €35 million with an Icelandic bank, which it does not judge will retain its value in the long term, given the crisis on the international financial markets.

The value adjustment will have a considerable negative impact on the bank's investment result which is due to disclose in its interim report on 31 October 2008. Consequently, after the first nine months of the current financial year, and despite the fact that the net interest and commission income is higher than in the preceding year, the pre-tax result, although still positive, will be significantly reduced at €1.7 million (€35.1 million as at 30 September 2007).

An overview of the financial instruments issued by Deutsche Hypo according to § 4 WpAIV can be found at Deutsche Hypo’s website www.deutsche-hypo.de under the heading 'Investor Relations'.

Contact: Ulrich Krogmeier

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