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05. März 2010

INTEREST OR CAPITAL PAYMENTS ON COMMERZBANK CAPITAL FUNDING TRUST I-II

COMMERZBANK CAPITAL FUNDING TRUST I
Wilmington, Delaware, U.S.A.
20,000 Noncumulative Trust Preferred Securities
- ISIN: DE000A0GPYR7 ¿

COMMERZBANK CAPITAL FUNDING TRUST II
Wilmington, Delaware, U.S.A.
16,000 Noncumulative Trust Preferred Securities
- ISIN: XS0248611047 -



RE: INTEREST OR CAPITAL PAYMENTS


Capitalised terms not otherwise defined herein shall have the meanings given to them in the Prospectuses issued in connection with the Noncumulative Trust Preferred Securities of Commerzbank Capital Funding Trust I and II (together "Trust Preferred Securities") dated 28 March 2006 (the "Prospectuses") and approved by the Irish Financial Services Regulatory Authority.

On 02 November 2009, Commerzbank reported, due to goodwill impairments and planned restructuring expenses for the Dresdner Bank integration (EUR 0.9 bn.), in Q3 a net profit of minus EUR 1.05 bn. For the 2009 business year for both Commerzbank AG und Group a negative annual result (net loss) is expected. In case of a net loss at the AG, the liquidation of reserves or special reserves (Sonderposten according to Section 340g German Commercial Code) for the granting of profit-related payments on equity related instruments is not permitted further to EU regulations and further to the agreements with the SoFFin. In this case profit-related equity instruments may not be serviced.

On 03 November 2009 Commerzbank Capital Funding Trust I and II reported, that generally, this means that no Capital Payments on the Trust Preferred Securities can be expected for the year 2009. However, even if a net loss at the AG for the year 2009 will materialise, an obligation to make Capital Payments on the Trust Preferred Securities could arise from payments on other instruments ranking pari passu with the Trust Preferred Securities ("Parity Securities") called Deemed Declaration of Capital Payments. If payments on other instruments are payments on Parity Securities and whether such payments will trigger the Deemed Declaration of Capital Payments has to be assessed on a case by case basis pursuant to the terms and conditions of the Trust Preferred Securities. Please refer to the description of the terms and conditions of the Trust Preferred Securities in the Prospectus.



As per this announcement date, it became evident, that no Deemed Declaration of Capital Payments would come into effect, since no payments on Parity Securities are to be expected before Capital Payments on the Trust Preferred Securities come due on 12 April 2010.

Consequently, investors are advised, that no Capital Payments on the Trust Preferred Securities will be made on 12 April 2010.

Moreover, Commerzbank Capital Funding Trust I and II will recommend brokers and exchanges to convert quotation from a pricing of the Trust Preferred Securities which excludes any interest that has accrued since the most recent coupon payment to a pricing of the Trust Preferred Securities which includes accrued interest on the Trust Preferred Securities. Hence, if brokers and exchanges follow such recommendation, no accrued interest should be payable by a buyer with regard to the Trust Preferred Securities in addition to the quoted price.

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