HSH Nordbank closes a Pre Delivery financing covering 37 aircraft for AerVenture

Hamburg/Kiel/London, May 7, 2008 - HSH Nordbank has closed a PDP financing for AerVenture Limited covering 37 Airbus A319/320/321 aircraft. This transaction, which serves to provide advance financing during construction of the aircraft, is worth some USD 270 million. HSH Nordbank is the sole arranger and underwriter of the facility. The aircraft are to be delivered between 2009 and 2012 and leased to several aviation companies.

AerVenture is a 50/50 joint venture between a subsidiary of AerCap Holdings N.V., and two Kuwaiti investors, LoadAir and Al Fawares. AerCap Holdings N.V., headquartered in the Netherlands, is a NYSE listed, integrated global aviation company with a leading market position in aircraft and engine leasing, trading and parts sales. LoadAir is a publicly quoted Kuwaiti based cargo airline that was founded in 2005. Al Fawares is a Kuwaiti based investment company with an international portfolio of interests in the Media and Telecom, Real Estate, Banking and Aviation sectors. “This is HSH Nordbank’s first financing for AerVenture. It follows a large number of successful transactions concluded with AerVenture’s JV partners (AerCap, LoadAir and Al Fawares) in the past”, says Angela Behrend-Görnemann, Head of Global Aviation at HSH Nordbank.

HSH Nordbank AG is a strong regional 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 HSH Nordbank AG securities. Securities of HSH Nordbank 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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