HSH Nordbank successfully places Schuldschein for HGV

Amount placed EUR 376 million

Amount announced oversubscribed due to strong demand

HSH Nordbank sole arranger

Hamburg/Kiel, November 9, 2012 - HSH Nordbank has successfully carried out a Schuldschein (promissory note) transaction for HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH.

Following a transaction arranged as part of a banking syndicate in June, this is the second Schuldschein placed by the Bank for HGV this year, both of which are guaranteed by the Free and Hanseatic City of Hamburg.

HSH Nordbank has placed the Schuldschein with maturities of six, eight, eleven and twelve years with a wide circle of institutional investors. Thanks to the strong demand, especially from banks, savings banks, insurance companies and pension funds, the total amount was increased from the original EUR 300 million to EUR 376 million. Pricing was at the lower end of the subscription range.

"For us the HGV mandate shows their confidence in our expertise as an arranger of Schuldschein transactions. The over-subscription in spite of the current low level of interest rates also shows that this source of finance is increasing in importance," says Torsten Temp, the member of HSH Nordbank's Management Board responsible for corporate and private clients.

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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