THE FOLLOWING IS THE TEXT OF AN AD HOC ANNOUNCEMENT MADE ON 29 OCTOBER 2008 BY HYPO REAL ESTATE HOLDING AG:


STOCK EXCHANGE ANNOUNCEMENT





29 October 2008
 
For immediate release
 
 
THE FOLLOWING IS THE TEXT OF AN AD HOC ANNOUNCEMENT MADE ON 29 OCTOBER 2008 BY
HYPO REAL ESTATE HOLDING AG: 

“Liquidity facilities and Financial Markets Stabilisation Fund

The contractual arrangements with a German finance sector consortium, Deutsche
Bundesbank and the German Ministry of Finance regarding the liquidity lines
totalling EUR 50bln, as announced on 6 October 2008, are currently in the final
stages of negotiation. The liquidity lines are to be made fully available by
mid-November. 

To cover Hypo Real Estate Group's short-term liquidity requirements in the
meantime, also against the background of recent market developments, the Group
yesterday submitted an application to the Financial Markets Stabilisation Fund
(Sonderfonds Finanzmarktstabilisierung - "SoFFin") for a guarantee with respect
to a provision of EUR 15bln of liquidity by Deutsche Bundesbank. A decision is
expected shortly. 

Furthermore, the Group will submit an application to SoFFin for additional
comprehensive support, including potential capitalisation measures. The
utilisation of the Fund is expected to cover the Group's additional funding
requirements once the liquidity facilities extended by the consortium have been
disbursed, thus providing the basis for the medium-term re-positioning of the
Group.” 

Contact: Julia Hoggett  +353 (1) 792 2004

 
Issued on behalf of DEPFA BANK plc in respect of its listed bonds.