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February 28, 2006

Commerzbank sells 8.1% of its stake in KEB

Commerzbank is disposing of part of its 14.6% stake in the Korea Exchange Bank. This Tuesday 8.1% (around 52.5m shares) will be placed through an accelerated bookbuilding process by Goldman Sachs and UBS as joint bookrunners. The transaction has a market value of about 640m euros.

Upon completion of this transaction, Commerzbank will continue to hold a 6.5% stake in KEB. This stake is subject to contractual agreements between Commerzbank and KEB's majority shareholder Lone Star.

Today's step continues Commerzbank's disposal of its non-strategic shareholdings.

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