HSH Nordbank expands its representative office in Paris into a branch

Positive development of real estate business in France Long-term commitment to Europe’s largest office property market

Hamburg/Kiel, April 29, 2008 - HSH Nordbank has converted the representative office opened in Paris in March 2005 into a fully-fledged branch. All necessary authorisations were granted by the French authorities in the first quarter of 2008. The branch is managed by Michel Delmond, whose deputy is Thierry de Parcevaux. Both have been in charge of HSH Nordbank’s real estate business in France since the foundation of the representative office.

“This change of status underlines our long-term commitment to Paris, the largest office property market in Europe,“ explains Peter Rieck, Vice Chairman of the Management Board of HSH Nordbank. “We are now able to extend guarantees when financing construction projects. This will clearly strengthen our market position in France.” As a French issuer, the Bank can take additional business volume onto its books and add an especially important service to its product range in the project developments segment, he explained. Moreover, the French business of the Bank’s other market segments will benefit from improved support provided by the Paris Branch.

HSH Nordbank meets the demands of its French and international customers by offering the full range of real estate financing products in France. These include mortgage loans, structured finance, acquisition finance, refinancing, capital market products as well as financing and making equity investments. HSH Nordbank’s real estate business in France has developed positively since 2005. The Bank’s real estate loan book in France totals approx. EUR 2 billion. In 2007, the Bank served its French customers in numerous transactions with a volume of approx. EUR 700 million.

HSH Nordbank AG is a strong commercial bank in Northern Europe with total assets of € 205 billion. Some 4,800 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.

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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