DGAP-Adhoc: WestLB AG: European Commission Confirms

WestLB AG / Statement

12.05.2009

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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The European Commission today announced a formal decision bringing the
WestLB proceedings to a close. The risk shield of EUR 5bn guaranteed by
WestLB's owners for the EUR 23bn structured credit portfolio, which the
Bank removed from the balance sheet in spring 2008, has thus been finally
accepted.

Based on the agreements with the Commission, WestLB will focus on the
following business segments in line with its business plan:
Verbund/Mid-Caps, Transaction Banking and Capital
Markets/Corporates/Structured Finance. To this end, the Bank will phase out
activities which do not conform to its strategy and reduce total assets as
well as risk-weighted assets by 50% (as of December 31, 2007, excluding
market values of derivatives) by March 31, 2011. The agreement provides for
the sale of, amongst others, Westdeutsche ImmobilienBank AG, readybank ag,
Weberbank Actiengesellschaft and WestLB International S.A. in Luxembourg
within the next two years.

At the same time the decision includes a non-discriminatory sale of WestLB
by the end of 2011. The agreement today does not preclude the possibility
of WestLB forming part of a Landesbank consolidation. The Commission has
also imposed certain restrictions on the development of certain business
units, for example no acquisitions may be made by the Bank until its sale.

Upon completion of the agreement with the European Commission WestLB will
focus on the following seven international locations: London, New York,
Hong Kong, Moscow, Sydney, Istanbul and Sao Paulo. The other branch
locations will be closed. The Bank will also streamline its domestic branch
network. It will remain active in Düsseldorf, Berlin, Frankfurt, Hamburg,
Munich and Stuttgart. In agreement with the Commission, WestLB reserves the
right, however, to maintain three further locations (domestic or foreign,
to be specified) in the event of a non-discriminatory sale of the Bank by
the end of 2010.

Starting in financial year 2009 until the change of ownership WestLB will
only pay profit-related remuneration on hybrid capital if it shows a profit
for the year without having to write back reserves.
DGAP 12.05.2009
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Language: English
Issuer: WestLB AG
Herzogstraße 15
40217 Düsseldorf
Deutschland
Phone: +49-(0)211-826-01
Fax: +49-(0)211-826-6119
E-mail: ir@westlb.de
Internet: www.westlb.de
ISIN: DE0003079406, DE0006899412, DE0006899420, DE0007120271, DE0007642837, DE0008121096, DE0008174483, DE0008364001, DE0008364902
WKN: 307940
Listed: Regulierter Markt in Frankfurt (General Standard),
Düsseldorf; Freiverkehr in Berlin, Stuttgart, Hamburg
End of News DGAP News-Service
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DGAP-Adhoc: WestLB AG: European Commission Confirms WestLB's Restructuring Plan