Mark Bussmann leaving HSH Nordbank

Hamburg/Kiel, September 27, 2011 - Mark Bussmann, Head of the Divestments BU at HSH Nordbank, wants to pursue fresh career challenges and is therefore leaving the Bank at his own request.

Following the Management Board's explicit request, Mr. Bussmann will remain at the Bank in his current position until 31 March 2012.

Since joining the Group in spring 2008, Mark Bussmann has essentially been responsible for winding down the capital market business of HSH Nordbank, which is no longer defined as being strategic. So far, under his leadership the size of the portfolio has been reduced from the previous figure of approx. 50 billion euros to 23 billion euros. The focus of Mr. Bussmann's activities within the Restructuring Unit, which pools all of HSH Nordbank's wind-down portfolios, was on the wind-down and risk reduction of the structured Credit Investment Portfolio of HSH Nordbank, which is spread over several international locations.

"We would like to thank Mr. Bussmann expressly for his work during an extremely difficult phase for the Bank. Mr. Bussmann has played an important part in ensuring that the Bank wound down its risk assets with minimum disruption to the Bank's earnings and faster than planned. In so doing, he has accomplished much for the Bank," stated Martin van Gemmeren, member of HSH Nordbank's Management Board with responsibility for the Restructuring Unit.

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