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Corporate Communications vom 18.11.2004

DAB bank AG acquires FSB FondsServiceBank GmbH effective January 1, 2005

<h2>DAB bank AG acquires FSB FondsServiceBank GmbH effective January 1, 2005</h2> <div class="editor"> <p><strong>Munich, 18.11.2004.</strong> The DAB bank AG Group (Munich), which operates in Germany and Austria, will acquire FSB FondsServiceBank GmbH, a joint venture between HVB Wealth Management Holding GmbH and MEAG MUNICH ERGO AssetManagement GmbH, which specializes in custodian banking for investment funds. The contract of sale is planned to be executed on today's date. The change of ownership will occur on January 1, 2005, subject to the approval of the German Federal Financial Services Supervisory Authority (known as the BAFin), and the competent antitrust authorities. The parties have agreed to keep the sale price confidential, except that it will be paid in cash.</p> </div> <div class="editor"> <p>The acquisition of FSB FondsServiceBank represents a significant expansion of DAB bank's B2B business. Today, DAB bank is already the market leader in the segment of independent financial advisors. The acquisition will enable DAB bank to significantly expand its business with investment fund brokers. DAB bank intends to continue playing an active role in this market, which continues to consolidate.<br> <br> When this transaction is finalized, DAB bank will have almost doubled the number of security accounts under its custody, to 874,415. The volume of assets under custody will increase by EUR 3.80 billion to reach a total of EUR 16.65 billion.<br> <br> With a FSB FondsServiceBank revenue base of about EUR 12 million per year, the restructuring expenses to be incurred in the coming year will not burden the 2005 net profit of the DAB Bank AG Group. Furthermore, the transaction will not give rise to the recognition of goodwill.<br> <br> The integration of FSB FondsServiceBank, which is planned for completion by the end of 2005, will yield considerable cost savings for DAB bank. In fact, a positive pre-tax profit contribution of up to EUR 2 million is expected already in fiscal year 2006. This amount will increase considerably in the following years.</p> </div> <div class="editor"> <p><strong>Key operating figures of the DAB bank AG Group and FSB FondsServiceBank GmbH:<br></strong></p> </div> <div class="tableContainerWide"> <h3>Key operating figures of the DAB bank AG Group and FSB FondsServiceBank GmbH:</h3> <table width="485" cellspacing="0" cellpadding="1" border="1" align="" class="tableContent"> <thead> <tr class="each"> <th scope="col" class=""><strong><br></strong></th> <th scope="col" class=""><strong><br></strong></th> <th scope="col" class=""><strong>DAB bank AG<br> 09/30/2004<br></strong></th> <th scope="col" class=""><strong>FSB Fonds-Service Bank GmbH<br> 09/30/2004<br></strong></th> <th class="last" scope="col"><strong>Aggregated<br></strong></th> </tr> </thead> <tbody> <tr class="odd"> <td class="">Securities accounts<br> <br></td> <td class="">No.<br> <br></td> <td valign="middle" align="right" class=""><br> 464,415<br></td> <td valign="middle" align="right" class=""><br> 410,000<br></td> <td valign="middle" align="right" class="last"><br> 874,415<br></td> </tr> <tr class="each"> <td class="">Trades executed<br> (01/01 to 09/30/2004)<br></td> <td class=""><br> No.<br></td> <td valign="middle" align="right" class="">2,468,867<br></td> <td valign="middle" align="right" class="">1,800,000<br> <br></td> <td valign="middle" align="right" class="last">4,268,867<br></td> </tr> <tr class="odd"> <td valign="top" class="">Trades executed<br> (annualized)<br></td> <td valign="top" class="">&euro; bn<br></td> <td valign="middle" align="right" class="">3,291,823<br> <br></td> <td valign="middle" align="right" class="">2,400,000<br></td> <td valign="middle" align="right" class="last">5,691,823<br></td> </tr> <tr class="each"> <td valign="top" class="">Customer assets under custody<br> thereof in investment funds<br></td> <td valign="top" class="">EUR bn<br></td> <td valign="middle" align="right" class="">12.85<br> 5.30<br></td> <td valign="middle" align="right" class="">3.80<br> 3.80<br></td> <td valign="middle" align="right" class="last">16.65<br> 9.10<br></td> </tr> </tbody> </table> </div>
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