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July 26, 2005

Commerzbank acquires T-Online stake in comdirect bank

Commerzbank has decided to acquire T-Online International AG's 21.32 percent stake in comdirect bank AG. The Bank's share in Germany's leading online-bank will increase to almost 80 percent following this transaction. The free float of comdirect bank will remain unchanged at around 20 percent. The shares, based on a contractual agreement with T-Online, will be acquired at a price near the stock market price.