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March 22, 2007

Statement by Klaus-Peter Müller, Chairman of the Board of Managing Directors concerning the upgrade in Commerzbank`s ratings by S&P

S&P has announced today, that the rating of Commerzbank AG has been upgraded from A- to A. In parallel the ratings for subordinated as well as short term debt were also taken up by one notch.

Klaus-Peter Müller, Chairman of the Board of Managing Directors, commented on the upgrading as follows: "I take the improved ratings as confirmation of the great progress we have made in our profitability and as recognition of the successful integration of Eurohypo into the Commerzbank Group as well as for our growth strategy. At the same time I see the decision as a challenge to consistently continue along the path we have taken and to reach the earnings targets we have set ourselves for the medium term."

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