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November 15, 2000

Commerzbank-Interim Report as of September 30, 2000:
Pre-tax profits up 139 percent vs. a year ago

Commerzbank-Group pre-tax profits from January to September 2000 were 2,416m euros, or 139 percent, more than for the same period a year ago. After deducting taxes, which almost tripled, and the profits attributable to minority interests, there remained 1,438m euros (+129 percent) in profits. Earnings per share improved to 2.80 euros from 1.27 euros, and after-tax return on equity to 17.9 percent. Both net interest income after provisioning, up 13 percent, and net commission income, plus 37 percent, showed dynamic growth. Trading profit was 22 percent higher. The "other operating result" of 1,030m euros was in large part due to the IPO of comdirect bank AG. In the third quarter alone, pre-tax profits reached 518m euros (+141 percent more than a year ago).

The Board of Managing Directors expects a good result for the whole year 2000, substantially exceeding the bank's budgeted figures.

NOTE: The complete Interim Report will be presented today at 10:30 a.m. local time at a press conference in Frankfurt. Simultaneously it will also be made available in both German and English on this website.

The press conference will be broadcasted live here.


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