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November 02, 2009

Pre-announcement from Commerzbank regarding Q3 2009 reporting:

Commerzbank's operating result in Q3 2009 is positive at approximately EUR 120 m. The result of the Portfolio Restructuring Unit profited from impairment gains. A review of goodwill led to write-downs of approximately EUR 650 m.

The goodwill impairments largely result from the previously announced strategic reorientation of Eurohypo and the subsequent changes in revenue expectations. They became necessary with the new segment structure.

In Q3 the goodwill impairments and the planned restructuring expenses for the Dresdner Bank integration (EUR 0.9 bn) led to a net profit of minus EUR 1.05 bn.

The core capital ratio (Tier 1) as of 30.9.2009 is just under 11%.

There are no changes to the targets of the 'Roadmap 2012'.

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 § 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.

For the Profit Participation Certificates of Commerzbank AG, predominantly held by retail investors, this means that no coupon payment can be expected for the year 2009. Insofar as necessary and legally permitted, Commerzbank will liquidate reserves and special reserves (Sonderposten according to § 340g German Commercial Code) for the fiscal year 2009 in order to prevent a reduction in the book value of its equity related instruments.


The following Profit Participation Certificates of Commerzbank AG are traded and listed on a regulated market:

Nominal Amount Coupon Maturity Redemption ISIN Listing
EUR 150,000,000 6.375% 31.12.2009 01.07.2010 DE0008164062 Frankfurt
EUR 100,000,000 7.000% 31.12.2009 01.07.2010 DE0008164070 Frankfurt
EUR 320,000,000 6.375% 31.12.2010 01.07.2011 DE0008032053 Frankfurt
The quarterly statements will be published as scheduled on November 5, 2009.

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