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 compliance of 21 March 2007, Eurohypo AG has been in compliance 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 12 June 2006, and is currently in compliance with and will continue to comply with the recommendations of the “Government Commission German Corporate Governance Code” in the version dated 14 June 2007, each subject to the following proviso:

• In accordance with item 5.3.2 of the Code, the Audit Committee should deal with matters of risk management in addition to matters of accounting and auditing. The Supervisory Board of Eurohypo AG has not assigned matters of risk management to its Audit Committee but to its Risk Committee, which addresses the bank’s credit, market and operational risks. The membership of the Chairman of the Audit Committee in the Risk Committee ensures that the Audit Committee has comprehensive information on matters of risk management.
• The remuneration report in accordance with item 4.2.5 of the Code is included in the corporate governance report. It features content identical to reporting on remuneration in the consolidated and individual company Annual Reports and notes in accordance with sections 285, 289, 314 and 315 of the German Commercial Code (Handelsgesetzbuch – HGB). The corporate governance report is published on the company’s website and included in the Annual Report, which contains the above details. To avoid redundancy, therefore, the printed corporate governance report makes reference to the information on remuneration in the Annual Report and notes.
• The duties of a Nomination Committee in accordance with item 5.3.3 of the Code are performed by the Presiding Committee, which comprises only shareholders.
• The lack of information on company stock options, stock option programs and comparable securities-based incentive schemes in the Annual Report is due to the fact that Eurohypo AG does not issue such stock options.

The Board of Managing Directors
Bernd Knobloch

The Supervisory Board
Klaus-Peter Müller