HSH Nordbank: New Global Heads for the Real Estate Business Unit

Hamburg/Kiel, May 16, 2008 - The Board of HSH Nordbank just appointed Peter Axmann (46) and Judith Steinhoff (40) as new Global Heads of the bank's Real Estate Business Unit. In his new position, Peter Axmann will act as spokesman of the executive team.

Both appointees are senior HSH Nordbank officers with demonstrable track record and many service years, and have served as Deputy Heads of the Real Estate Business Unit. Peter Axmann joined the bank in 1981, and - beginning in 1994 - assumed several executive functions in the Real Estate Business Unit, including head of the Berlin branch office. Judith Steinhoff joined the bank in 1999, and has since served in a variety of executive functions in the Real Estate Business Unit and in Human Resources.

The Real Estate Business Unit of HSH Nordbank manages a real estate loan volume of Euro 28.2 billion, and is represented on 16 German and international real estate markets today. The bank’s real estate division also includes HSH Real Estate AG, which is one of Germany’s top-ten real estate companies, and manages all of the bank’s real estate activities outside the financing business.

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.

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