KfW IPEX-Bank and DEG open representative office in Singapore

Frankfurt am Main (ots) - Today the two KfW subsidiaries KfW
IPEX-Bank and DEG will officially launch their new joint
representative office in Singapore with a festive reception for
clients. In the presence of Germany's ambassador to Singapore, Ms
Angelika Viets, and high-ranking industrial leaders, KfW's Executive
Board member Dr Norbert Kloppenburg together with Christian K. Murach
and Markus Scheer, both members of the Management Board of KfW
IPEX-Bank, and Bruno Wenn, Chairman of the Board of Management of
DEG, will inaugurate the office in the city-state, which is a
commercial and financial hub for the South-East Asian region.

KfW IPEX-Bank and DEG, both wholly owned subsidiaries of KfW, will
operate the new representative office together. "The financings
offered by the two institutions complement each other very well
because the Asian market demands both classic export finance products
and instruments for the financing of direct investments. As a German
promotional bank, KfW is very active in both areas", said Dr Norbert
Kloppenburg, who is not only on KfW's Executive Board but also on the
Board of Supervisory Directors of KfW IPEX-Bank and First Deputy
Chairman of the Board of Supervisory Directors of DEG.

"Singapore is the most important financial centre in the region
and an ideal location for international businesses using the
city-state as a gateway to the countries of the ASEAN community and
to Australia. Given that Germany is the most important European trade
partner of the ASEAN states, we have chosen Singapore as a location
from which to provide even better support to German exporters and
investors in their activities in the region", said Christian K.
Murach. "The new representative office brings DEG closer to its
clients. From here it can expand its acquisitions in Asia and network
more closely with important multipliers. These include regional
banks, funds, auditing firms and law firms", said Bruno Wenn
commenting the establishment of the new representative office.

After the regulatory authority in Singapore gave its approval and
issued the license, KfW IPEX-Bank and DEG moved into the office and
initiated first business operations already at the end of last year.
It will be headed by Wolfgang Kassel (KfW IPEX-Bank) and Dr Hubertus
Pleister (DEG). With the new office KfW IPEX-Bank now has a branch
office in London and nine representative offices around the world
(Abu Dhabi, Bangkok, Istanbul, Johannesburg, Moscow, Mumbai, New
York, São Paulo and Singapore). DEG is also represented in a number
of main-focus regions with twelve offices or representations (Accra,
Bangkok, Beijing, Istanbul, Jakarta, Johannesburg, Lima, Moscow,
Nairobi, New Delhi, São Paulo and Mexico City). In total,
representatives of KfW Bankengruppe work in over 70 cities worldwide.

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank is in charge of
international project and export finance. It is responsible for
providing financing to support the German and European economy, a
task derived from the legal mandate assigned to KfW Bankengruppe. Its
prime focus is on medium- and long-term lending to boost the export
economy, develop economic and social infrastructure and support
environmental and climate protection projects. KfW IPEX-Bank operates
as a legally independent group subsidiary and plays a major role in
fulfilling the promotional mission of KfW Bankengruppe. It has 531
employees (as of 31 December 2011) and is represented in the key
economic and financial centres throughout the globe.

DEG - Our business is developing

DEG, a subsidiary of KfW, finances investments of private
companies in developing and transition countries. As one of Europe's
largest development finance institutions, it promotes private
business structures to contribute to sustainable economic growth and
improved living conditions.

Contact:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: thomas.krick@kfw.de
Tel.: 069 7431-8454, Fax: 069 7431-9409,
E-Mail: info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de