STOCK EXCHANGE ANNOUNCEMENT 30 March 2009 For immediate release THE FOLLOWING IS EXTRACTED TEXT FROM TWO AD HOC ANNOUNCEMENTS MADE BY HYPO REAL ESTATE HOLDING AG (PARENT COMPANY OF DEPFA BANK PLC) ON 28 MARCH 2009: [Translated from German] “Frankfurt/Munich, 28 March 2009: The German Financial Markets Stabilisation Fund (SoFFin) intends to take action to stabilise Hypo Real Estate Group, in the interest of stabilising the financial markets; specifically, SoFFin will implement measures to achieve a sufficient recapitalisation of Hypo Real Estate Holding AG, and will extend further guarantees. This was confirmed today by SoFFin in a declaration of intent issued to Hypo Real Estate Holding AG and Hypo Real Estate Bank AG. It is a prerequisite for the intended recapitalisation of Hypo Real Estate Group by SoFFin that either SoFFin or the German government gain full control over Hypo Real Estate Holding AG. To this end is intended to make use of the options that will be provided by the German Financial Markets Stabilization Amendment Act, which is currently being discussed in the legislative process. As a first step to recapitalise Hypo Real Estate Group, SoFFin has committed itself to acquiring 20 million Hypo Real Estate shares to be issued under authorised capital, at the minimum price prescribed by law of EUR 3.00 per share, to the exclusion of shareholders' pre-emptive rights. New shares must be issued at least at the minimum issue price, which amounts to EUR 3.00 per share for Hypo Real Estate Holding AG. The entire issue amount of EUR 60 million thus payable by SoFFin will be made available to Hypo Real Estate Holding AG, not to the existing shareholders. SoFFin will thus acquire a stake of approx. 8.7 per cent in Hypo Real Estate Holding AG. The Management Boards of Hypo Real Estate Holding AG and of Hypo Real Estate Bank AG have undertaken, with the approval of their respective Supervisory Boards, to SoFFin to take the necessary steps to implement the recapitalisation. This declaration of intent issued by the SoFFin enables the management boards of the companies in the Hypo Real Estate Group to make a positive going-concern assumption and to prepare the consolidated financial statements for 2008 on this basis. Hypo Real Estate Holding AG published the key figures for financial 2008 on 28 March 2009 (before audit by the auditor). Accordingly, the pre-tax loss is EUR 5.375 billion, compared with a pre-tax profit of EUR 862 million in the previous year (all figures for 2007 on a pro-forma basis, incl. DEPFA Bank plc and its subsidiaries (DEPFA)). The net income is reported as EUR -5.461 billion. This result very much reflects the difficult situation on the capital and financing markets. The loss is partially attributable to impairments on goodwill and intangible assets resulting from the first consolidation of DEPFA totalling EUR 2.482 billion. The situation was exacerbated by numerous special effects and one-off effects. For at least the next two years a loss situation can be anticipated. The medium-term strategic prospects are considered positive. The Board of Directors of DEPFA BANK plc has decided that tier 1 instruments guaranteed by DEPFA BANK plc and upper tier 2 instruments of DEPFA BANK plc will not be serviced in 2009.” Contact: Karen Conway at karen.conway@depfa.com or +353 (1) 792 2009; or Andrew Cree at andrew.cree@depfa.com or +353 (1) 792 2411. Issued on behalf of DEPFA BANK plc in respect of its listed bonds.
THE FOLLOWING IS EXTRACTED TEXT FROM TWO AD HOC ANNOUNCEMENTS MADE BY HYPO REAL ESTATE HOLDING AG
| Source: DePfa Bank plc