HSH Nordbank and KfW IPEX-Bank sign "Railpool" Joint Venture / New rail asset manager to meet increasing need for rail assets

Frankfurt am Main (ots) - With the signing of a Joint-Venture, HSH
Nordbank AG and KfW IPEX-Bank GmbH have prepared the ground for a new
asset manager in rail transportation named Railpool GmbH, to be
founded in July. Each of the banks will own half of Railpool, which
is to be based in Munich. The two banks will found the company on the
basis of their conviction that the privatization of European rail
transportation will continue to move ahead. There will also be an
increasing need for rail assets provided by private rail operators.
According to estimates, Western Europe will need EUR 5.6 million in
new locomotives by 2015. During the same timeframe, a similar amount
will be needed for regional rail transport.

"The aim of Railpool is to create the first one-stop shop for rail
operators, setting new standards in financial services for rail
transport trough an asset management platform," explains Mathis
Shinnick, Global Head of Transportation at HSH Nordbank. "We will not
only provide our clients with financing and leasing, we will also
offer them advice and services," says Shinnick.

"Founding Railpool is the logical development of our product range
for financing rail cars," says Christiane Laibach, member of the KfW
IPEX-Bank Executive Board. "Since privatization in Europe began, we
have helped private rail operators to finance their investments.
Railpool will help meet the sharp growth in demand for operating
leases in an individual and targeted manner.

For this purpose, Railpool will acquire a fleet of locomotives and
rail cars for regional rail transportation services and lease them to
private rail operators. "Owning the rail assets allows Railpool to
issue finance and capital market products on the fleet and thus
further participate in the performance of the rail pool," says
Shinnick. "Railpool thus combines the full value chain in banking
with the value chain of a service provider in the rail industry,"
notes Laibach.

About HSH Nordbank AG

HSH Nordbank AG is a strong business bank in northern Europe with
total assets of EUR 205 billion. With around 4,800 employees, the
bank provides corporate clients and wealthy private clients around
the world with a broad range of high-quality banking services. In its
core region of Hamburg and Schleswig-Holstein, it is the market
leader in the corporate customer segment. HSH Nordbank is an
acknowledged partner of the capital markets. Internationally, it
focuses on transportation and real estate. The Bank covers the entire
value chain in the transportation segment and is the world's largest
provider of shipping finance. In real estate, HSH Nordbank is one of
the strongest banks in Germany, providing services relating to all
aspects of real estate.

Additional information can be found at www.hsh-nordbank.de

About KfW IPEX-Bank GmbH

Within the KfW Bankengruppe, KfW IPEX-Bank GmbH is responsible for
project and corporate financing as well as trade and export financing
domestically and abroad. It combines all of the financial service
activities in which the KfW Bankengruppe competes with other banks
worldwide. It has been a legally independent company since January 1,
2008, and contributes significantly to the mission of KfW
Bankengruppe. It has approx. 450 employees (as of May 2008) and is
represented in all key economic and financial centers around the
world.

Additional information can be found at www.kfw-ipex-bank.de

Originaltext: KfW-IPEX-Bank
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Contacts:
HSH Nordbank AG

Press Officer
Rune Hoffmann
Phone: 040 / 33 33-11 412
Fax: 040 / 33 33-611 412
E-Mail: rune.hoffmann@hsh-nordbank.com

KfW IPEX-Bank GmbH

Press Office
Dela Strumpf
Phone: 069 / 7431 2984
Fax: 069 / 7431 9409
E-mail: dela.strumpf@kfw.de