HSH Nordbank: Benchmark issue several times oversubscribed

Issue with a volume of 1.5 billion Euro placed with institutional investors

Hamburg/Kiel, June 15, 2007 - HSH Nordbank AG has successfully placed its first benchmark issue with a volume of 1.5 billion Euros since the loss of German state guarantees. This note was issued with Barclays Capital and HSH Nordbank acting as joint lead managers. The note has been sold successfully to institutional investors in Germany and especially in Europe.

„This successful placement demonstrates that the investors are convinced by the business model of HSH Nordbank, and that HSH Nordbank is well-positioned on the capital markets,” says Jochen Friedrich, member of the Managing Board and responsible for the capital market activities. „Benchmark issues are an important part of our international funding strategy.” HSH Nordbank plans further benchmark issues on a regular basis on the international capital markets.

This several times oversubscribed benchmark issue pays a floating rate coupon of 3-Months-Euribor with a spread of 7.5 basis points and has a maturity of five years. The issue price is 99.887 %. It was issued under the 30 billion Euros debt issuance program of HSH Nordbank and is listed at the stock exchange of Luxemburg.

HSH Nordbank AG is a strong regional bank in Northern Europe with total assets of € 200 billion. Some 4,400 of the bank’s employees provide corporate and high net-worth clients around the globe with premium bank products and services. In its core region of Hamburg and Schleswig-Holstein, it is the market leader in the corporate customer segment. HSH Nordbank is an acknowledged partner of the capital markets and international sector specialist. Its main focus is on transportation and real estate. In fact, HSH Nordbank is the world’s largest provider of ship finance and covers the entire value chain in the transportation segment. In the area of real estate, HSH Nordbank is one of the strongest banks in Germany, acting as a provider of services relating to all aspects of real estate. For more information please visit our website at www.hsh-nordbank.com.