Constantin von Oesterreich to become HSH Nordbank's new Chief Financial Officer

• Dr. Jan-Alexander Huber is appointed new Head of Group Finance and Controlling

Hamburg/Kiel, September 27, 2011 - The previous Chief Risk Officer (CRO) and temporary CFO of HSH Nordbank, Constantin von Oesterreich, has now also been formally appointed Chief Financial Officer of the Bank effective 1 October 2011.

In these two positions he will be responsible for Credit Risk Management, Group Risk Management, Loan & Collateral Management as well as for Restructuring, Group Finance & Controlling and Taxes.

Constantin von Oesterreich has been Management Board member of HSH Nordbank since November 2009. He previously worked for Deutsche Bank, where he held various executive positions in Frankfurt, London and Singapore.

The Group Finance and Controlling BU, which is part of Mr. von Oesterreich's area of responsibility, will be managed by Dr. Jan-Alexander Huber effective 1 December 2011. He is taking over the area of Ulrich Geuss, who will leave the Bank at his own request at the end of the year.

Jan-Alexander Huber has worked for HSH Nordbank since the middle of 2007 and has been responsible for the project "Strategic Realignment" on behalf of the Management Board. His other current area of responsibility includes the management of the unit corporate development with the issues M&A and equity holdings management, strategy, investor relations & rating and research. He currently reports to the Chief Executive Officer in this capacity. He has held joint significant responsibility for the development of the Bank's strategic realignment and the restructuring planning in connection with the completed EU state aid proceedings. Prior to that, he worked for Bain & Company in Munich and Sydney.

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