The Board of Managing Directors and the Supervisory Board of Eurohypo AG declare pursuant to Section 161 of the Stock Corporation Act (AktG): since the last declaration of conformity of March 21, 2005, Eurohypo AG has complied with the recommendations of the “Government Commission German Corporate Governance Code” announced by the Federal Ministry of Justice in the official section of the electronic Federal Gazette, in the version dated May 21, 2003 and is currently complying with and will continue to comply with the recommendations of the “Government Commission German Corporate Governance Code” in the version of June 2, 2005, subject to the following proviso:

• The lack of information on company stock options, stock option programmes and comparable securities-based incentive schemes in the bank’s Annual Report is due to the fact that Eurohypo AG does not issue such stock options.

The bank therefore complies with all the recommendations of the “Government Commission German Corporate Governance Code”.

The Board of Managing Directors
Dirk Wilhelm Schuh Bernd Knobloch

The Supervisory Board
Dr. Gentz