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Deutsche Hypothekenbank Frankfurt AG

ots Ad hoc-Service: Deutsche Hyp Ffm.-Ham. <DE0008076001> Increased Provisions Requirement at Deutsche Hypothekenbank Frankfurt-Hamburg AG

Frankfurt am Main (ots Ad hoc-Service) -

The sender is solely responsible for the contents of this
announcement.
A credit audit at Deutsche Hyp carried through by Dresdner Bank
corporate auditors has uncovered considerable new credit risks.
Estimated additional provisions amount to approximately EUR 200
million. Most of the shortfall stems from property financing
agreements in the new German states between 1995 and 1997.
The additional provisioning requirements can be covered in full by
the operative reserves. From the information available at the moment,
Deutsche Hyp's planned dividend distribution is not endangered in the
current year.
The Supervisory Board has suspended three members of the Board and
will decide in its meeting on 2. August on the appointment of new
members to the Board of Managing Directors.
Deutsche Hypothekenbank Frankfurt-Hamburg
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