DGAP-News: Commerzbank AG: Stefan Schmittmann succeeds

Commerzbank AG / Temporary Suspension

01.09.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Change in Commerzbank Board of Managing Directors
Stefan Schmittmann succeeds Bernd Knobloch

The Supervisory Board of Commerzbank has today complied with the request by
Bernd Knobloch to release him from his position as a member of the Board of
Managing Directors of Commerzbank with effect from September 30, 2008.
Bernd Knobloch is leaving the bank at his own request and by mutual
agreement. 'This was not an easy decision. But after the successful
completion
of the process of integrating Eurohypo into Commerzbank, I see this as an
opportunity to start a new chapter in my life.'
Bernd Knobloch has been a member of the Board of Managing Directors of
Commerzbank AG since April 1, 2006, and Chairman of the Board of Eurohypo
AG since January 1, 2004, for which Mr Knobloch will also relinquish his
responponsibilities on the September 30, 2008. He has consistently
developed the expansion of Eurohypos international business and made a
major contribution towards the establishment of real estate as a separate
asset class worldwide. Under his leadership, Eurohypo has become the
worlds largest Pfandbrief issuer.

'In the past few years, Bernd Knobloch has made Eurohypo one of the market
leaders in real estate and public finance. We regret that Bernd Knobloch is
leaving Commerzbank. I should like to thank him  personally, and on behalf
of my colleagues on the Board of Managing Directors  for his hard work,
and to wish him all the best in the future,' said Klaus-Peter Müller,
Chairman of the Supervisory Board of Commerzbank.

'A connoisseur of risk management'
The Supervisory Board has appointed Dr Stefan Schmittmann as successor to
Bernd Knobloch on the Board of Managing Directors of Commerzbank. He will
assume his new position on November 1, 2008. Until April this year, the
51-year-old was a member of the Board of Bayerische Hypo- und Vereinsbank
AG, Munich, responsible for the commercial real estate and corporate
banking divisions.. He was also a member of the Executive Committee of
UniCredit Corporate Division. 'Schmittmann is a proven connoisseur of the
real estate markets and credit risk management. We are very happy to
welcome him to our team,' said Martin Blessing, Chairman of the Board of
Managing Directors of Commerzbank.

After studying business administration at St Gallen University, Schmittmann
began his banking career in 1986 at what is now today HVB, the former
Bayerische Vereinsbank. He held various management positions in the credit
and financial control departments until he took over as joint head of the
risk management division at the Munich group head office, rising to become
Chief Credit Risk Officer on the divisional board five years later. As
speaker of the Board of Vereins- und Westbank, Schmittmann played a major
role in promoting the integration of Vereins- und Westbank AG in Hamburg
into HVB. He is married, with one child.

Frank Pörschke to head Eurohypo
Dr Frank Pörschke will succeed Bernd Knobloch as the new Chairman of the
Board of Eurohypo on the 1st October 2008. The Supervisory Board has with
effect of August 30, 2008 appointed the 43-year-old who joined Eurohypo in
his new capacity in September, 2007, and has since had particular
responsibility for Eurohypo market activities in continental Europe, the UK
and Latin America.  'Dr Frank Pörschke is a master of all aspects of the
real estate business. His years of international experience, which, in
addition to financing, ranges from the development of major commercial real
estate projects through to successful management of a major European real
estate company, are tremendously important to Eurohypo with its global
activities,' said Klaus-Peter Müller, Chairman of the Supervisory Board of
Eurohypo.

Frank Pörschke studied law at Hamburg University, obtaining his doctorate
in law in 1991. He then joined the consulting firm McKinsey & Company. He
subsequently went to the project development company, ECE Projektmanagement
International, where he headed international project development until
mid-2004. Before joining Eurohypo, Pörschke was Speaker for the Board of
Commerz Grundbesitz Gruppe, one of the largest European real estate asset
managers, which is also a member of the Commerzbank Group. Pörschke is
married, with three children.
DGAP 01.09.2008 
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Language:     English
Issuer:       Commerzbank AG
              Kaiserplatz
              60261 Frankfurt am Main
              Deutschland
Phone:        +49 (069) 136 20
Fax:          -
E-mail:       ir@commerzbank.com
Internet:     www.commerzbank.de
ISIN:         DE0008032004
WKN:          803200
Indices:      DAX, CDAX, HDAX, PRIMEALL
Listed:       Regulierter Markt in Berlin, Frankfurt (Prime Standard),
              Hannover, München, Hamburg, Düsseldorf, Stuttgart;
              Terminbörse EUREX; Foreign Exchange(s) London, SWX
End of News                                     DGAP News-Service
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DGAP-News: Commerzbank AG: Stefan Schmittmann succeeds Bernd Knobloch
