HSH Nordbank the best provider of ship finance in 2007

Hamburg/Kiel, April 17, 2007 - HSH Nordbank AG has been declared the year’s best provider of ship finance in the world by the internationally renowned shipping newspaper “Lloyd's List”. The Bank succeeded in convincing the jury on the basis of its successful support for its customers in particularly demanding transactions. As a partner of the shipping industry, HSH Nordbank advises companies, for example, on financing new ships to be built, purchasing ships or acquiring companies.

Harald Kuznik, Head of Ship Finance at HSH Nordbank, accepted the prize at the tenth Lloyd's List Award ceremony in London. “The award is a great honor for us because it reflects the market's appreciation of our deep knowledge of the market and industry, our international approach and our long-term and reliable commitment to our clients. As the world’s largest provider of ship finance we offer a wide range of structured specialist products which meet even the most complex financing needs. We gladly take this opportunity to also thank our customers for their support, without which we could not achieve anything.”

Last year the Ship Finance Business Unit was responsible for arranging and financing the acquisition of the Silja ferry line with a volume of EUR 350 million on behalf of Tallink Grupp in Estonia. In the promising market for offshore finance deals the Bank provided a total of 175 million US dollars to finance seven supply ships and two specialized ships. HSH Nordbank was able to demonstrate its structuring expertise in numerous transactions during the past financial year. Together with the Hamburg underwriters König & Cie, it set up the Marenave Schifffahrts AG (Marenave) ship investment company and arranged its successful IPO. Marenave enables institutional investors to make long-term investments in the ship market and to diversify their portfolios. Moreover, there was a growing demand for innovative finance tools, for example to hedge fluctuation in the price of oil.

Every year Lloyd's List presents awards for the best achievements in twelve different categories (e.g. innovation, newly built vessels, environmental projects, legal advice, further education and port management). The jury consists of a distinguished team of experienced shipping experts.

HSH Nordbank AG is a strong regional bank in Northern Europe with total assets of € 190 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.

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