HSH Nordbank to involve City of London Police in investigation of suspicious activities at London branch

Hamburg/Kiel, October 7, 2009 - HSH Nordbank has reported certain suspicious business transactions handled by the London branch of the bank to the City of London Police in England. There is a concern that these transactions may have involved fraud

The Financial Services Authority (FSA) in the UK and the Federal Office for the Supervision of Financial Services in Germany have been informed as well.

The compliance and audit departments of the bank have been conducting their own investigation with the support of outside counsel since June 2009. They investigated whether the bank had been harmed and whether former employees of the branch were involved and if so, in what way. The results of this investigation have now prompted the decision to involve the City of London Police.

The chairman of the Management Board, Mr. Nonnenmacher, had already made it clear in other context that any suspicion of irregularities within the bank would result in the most thorough investigation and, where appropriate, disciplinary action.

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