HSH Nordbank places public-sector Pfandbrief

Hamburg/Kiel, June 28, 2010 - Today HSH Nordbank placed a public-sector Pfandbrief with a term of 3 years and a coupon of 1.75 percent with an issue amount of EUR 500 million.

The reoffer price was fixed at 99.904 percent. This equals a reoffer spread of 20 basis points above mid-swaps.

Shortly after opening of the orderbook the intended issue amount was filled. With slight oversubscription the book could be closed on midday. With more than 60 single orders the orderbook was well diversified. HSH Nordbank placed the Pfandbrief on the market as joint lead manager together with Commerzbank, Deutsche Bank, DZ Bank and Unicredit.

The outstanding HSH Nordbank Pfandbriefe are subject to the security standard of the German Pfandbrief law and have been awarded the best ratings of Aaa by Moody’s.

After the beginning of its strategic realignment HSH Nordbank successfully reentered the public capital markets by this Pfandbrief placement.

The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.

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