Hypo Real Estate Holding AG: German Financial Markets Stabilisation Fund extends the framework

STOCK EXCHANGE ANNOUNCEMENT                                                     



12 January 2009                                                                 
                                                                                
                                                                                
THE FOLLOWING IS THE TEXT OF AN AD HOC ANNOUNCEMENT MADE BY HYPO REAL ESTATE    
HOLDING AG FOR RELEASE ON 12 January 2009:                                      
[Translated from German]                                                        

“German Financial Markets Stabilisation Fund ("SoFFin") extends the framework   
guarantee granted to Hypo Real Estate Group until 15 April 2009                 

Munich, 12 January 2009 - The German Financial Markets Stabilisation Fund       
("SoFFin") has extended its framework guarantee - originally approved until 15  
January 2009, in a total amount of EUR 30 billion - until 15 April 2009.        

Hypo Real Estate Bank AG, part of Hypo Real Estate Group, can use guarantees to 
be issued by SoFFin to collateralise debt securities to be issued, which must be
due for repayment by 15 April 2009 at the latest. Hypo Real Estate Bank AG will 
pay to SoFFin a pro-rata commitment commission of 0.1% of the undrawn portion of
the framework guarantee. The fee for guarantees drawn will be 0.5% p.a.         
(previously 1.5% p.a.).                                                         

Negotiations between Hypo Real Estate and SoFFin regarding more extensive and   
longer-term liquidity and capital support measures for the Group are            
continuing.”                                                                    


Contact: Julia Hoggett:  +353 (1) 792 2004                                      

                                                                                
Issued on behalf of DEPFA BANK plc in respect of its listed bonds.