DGAP-UK-Regulatory: Commerzbank: Supervisory Board agrees

Commerzbank AG / Acquisition/Change of Personnel

10.12.2008 

Release of a UK Regulatory Announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement.
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Commerzbank: Supervisory Board agrees to accelerated takeover of Dresdner
Bank

- Speeding up of acquisition timeline leads to changes to Dresdner Banks
boards

- Blessing: 'We are making rapid progress regarding the preparation of the
integration'

In an extraordinary meeting held on December 10, 2008, the Supervisory
Board of Commerzbank agreed to the accelerated takeover of Dresdner Bank.
'We are making rapid progress regarding the preparation of the integration,
and we have reached the milestones targeted for 2008,' says Martin
Blessing, Chairman of the Commerzbank Board of Managing Directors. On
November 27, Commerzbank and Allianz agreed to implement the full takeover
already at the beginning of next year. According to the initial agreement,
dated end of August, only 60% of the shares in Dresdner Bank would haven
been acquired in January 2009. The remaining 40% were intended to be passed
on to Commerzbank at a later point in time. Statutory approvals should be
obtained by January 2009.

The accelerated takeover will lead to an early change in the chairmanship
of the Dresdner Bank Board of Managing Directors. Herbert Walter has stated
the wish to enable a clear and faster transition. Consequently he has asked
the Dresdner Bank Supervisory Board to release him from his
responsibilities as Chairman of the Board of Managing Directors of Dresdner
Bank as soon as the transfer of control is effective. Herbert Walter has
also asked the Supervisory Board of Commerzbank not to appoint him to the
Commerzbank Board of Managing Directors as originally planned. Martin
Blessing: 'Commerzbank would like to thank Herbert Walter for his
etraordinary dedication and his exemplary contribution to the preparations
of the merger. We would like to also thank him for making himself available
to us until the takeover is complete.'

At the Dresdner Bank Supervisory Board meeting scheduled to take place on
December 22, the proposal will be made to appoint Martin Blessing Chairman
of the Board of Managing Directors of Dresdner Bank once the takeover is
effective. Proposals will also be presented for the appointment of Markus
Beumer and Achim Kassow to the Board of Managing Directors. Markus Beumer
is responsible at Commerzbank for the Mittelstand (SME) business, while
Achim Kassow is responsible for the Private and Business Customers segment.

Already on November 27, the Supervisory Board of Dresdner Bank appointed
three members of the Board of Managing Directors of Commerzbank to the
Dresdner Bank Board of Managing Directors. Frank Annuscheit will become COO
and head up the Banking Services area. Wolfgang Hartmann will assume
responsibility for Risk Management, while Michael Reuther will in future
manage the Investment Banking unit. The three new and the three nominated
members of the Dresdner Bank Board of Managing Directors will take their
seats on the board following the complete takeover up until the time of the
merger, scheduled for March 2009. They will all also continue to exercise
their current functions on the Commerzbank Board of Managing Directors.

In addition to Herbert Walter and Stefan Jentzsch, Andreas Georgi and Franz
Herrlein will also stand down from the Board of Managing Directors of
Dresdner Bank following its complete acquisition by Commerzbank. In future
the Dresdner Bank Board of Managing Directors should consist of the
following members: Frank Annuscheit, Markus Beumer, Martin Blessing
(Chairman), Wolfgang Hartmann, Achim Kassow, Wulf Meier, Andree Moschner,
Michael Reuther, Klaus Rosenfeld and Friedrich Wöbking.

Following the complete takeover, there will also be changes to the Dresdner
Bank Supervisory Board. Klaus-Peter Müller, Chairman of the Commerzbank
Supervisory Board will also take on the role of Chairman of the Dresdner
Bank Supervisory Board up until the time of the merger.
DGAP 10.12.2008 
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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
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
Category Code:      MSC
LSE Ticker:         CZB
Sequence Number:    35
Time of Receipt:    Dec 10, 2008 16:09:31
End of News                                     DGAP News-Service
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DGAP-UK-Regulatory: Commerzbank: Supervisory Board agrees to accelerated takeover of Dresdner Bank
