HSH Nordbank has a new General Manager for ship finance in Italy

Hamburg/Kiel, January 24, 2007 - HSH Nordbank has appointed Mario Pascarella (42) as General Manager and Relationship Manager of the Norship Italia joint venture effective February 1, 2007. In this role, he will expand the Bank’s business relationships with customers in the Italian shipping industry. Mario Pascarella will succeed Anna-Francesca Lange, who established Norship Italia in the Italian shipping market. She will return to head office in Hamburg.

Mario Pascarella will join Norship Italia from Pricewaterhouse Coopers Advisory – Corporate Finance, where he has been a senior consultant since 1999. Mario Pascarella has many years of experience in the areas of M&A consulting, private equity as well as evaluating shipping businesses.

HSH Nordbank set up the Rome-based Norship Italia joint venture with its partners Aldo Frulio and Enrico Ravano in 2004. The company has made a name for itself as a provider of ship finance to customers mainly in the tanker, bulk carrier and passenger-vessel markets. Its lending volume amounts to about USD 400 million.

With a business volume of around € 25 billion and some 2,500 ships in its portfolio, HSH Nordbank is the world’s largest provider of ship finance. In particular, the Bank’s range of products and services for shipping companies operating on an international scale includes long-term ship-mortgage loans, finance during construction and structured ship finance. The Bank assists its customers both in carrying out projects to build new vessels and in purchasing ships from other sources. HSH Nordbank’s business in this area breaks down into the three main markets of container vessels, tankers and bulk carriers. The bank also provides customized solutions involving a large variety of specialized ships. In addition to the pure lending business, HSH Nordbank has been focusing to an increasing extent on comprehensive advisory services for all types of shipping companies. Apart from structured and innovative finance deals, the Bank also offers one-stop solutions covering all potential financial service requirements. Innovative instruments for hedging interest, currency and oil-price risks (e.g. changes in the price of bunker oil) round off the range of products on offer. Here, HSH Nordbank offers solutions that are designed to hedge the risks involved in each individual case.

For more information please visit our website at www.hsh-nordbank.com.

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