The Supervisory Board discussed the disclosures pursuant to § 289 (4) and § 315 (4) German Commercial Code (HGB) in the Management Report as well as in the Management Report for the Consolidated Financial Statements and comments on these as follows:

The disclosures on the subscribed capital and shares appropriately reflect the situation as of December 31, 2006. To the extent new shares were issued during the current financial year through the exercising of option rights, these grant a profit participation only starting with the current financial year, unlike already existing shares.

Restrictions on the voting rights of the shares may arise on the basis of the regulations of the Stock Corporation Act (AktG). For example, under certain conditions, shareholders are prohibited from voting (§ 136 Stock Corporation Act (AktG)). Furthermore, the company has no voting rights from its own shares (§ 71 b Stock Corporation Act (AktG)). The Supervisory Board is not aware of any contractual restrictions relating to the voting right or transfer of shares.

The bank has not received any notification of shareholdings in the company’s capital exceeding 10 % of the voting rights. For this reason, the disclosure on this has been omitted.

A description of shares with special rights granting control authorities is not necessary as such shares have not been issued.

An explanation of the special controls of voting rights for staff shareholdings has been omitted, as the employees who participate in the bank’s capital exercise their control rights like other shareholders.

The disclosures on the appointment and dismissal of members of the Management Board are fairly stated in accordance with the statutory regulations and Articles of Association. The same applies to the information on amendments to the Articles of Association.

The authority of the Management Board to issue or repurchase shares is appropriately stated with the reference to the authorizations approved by the General Meeting.

The Supervisory Board is not aware of any material agreements that are contingent on a change of control following a takeover offer.

To the extent, that a compensation has been agreed with the members of the Management Board in the event of a change of control, this agreement serves to preserve the independence of the Management Board members. The corresponding commitments to other senior managers also serve to secure their contractual legal positions.