EANS-News: DVB Bank SE places its first public ship covered bond, rated Aa3

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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Frankfurt am Main (euro adhoc) - DVB Bank SE's debut ship covered bond issue was
met with good market demand. The "Schiffspfandbrief" issue, which was offered
for subscription on 24 November 2010, was successfully placed by joint lead
managers, DZ BANK and Deutsche Bank.

Wolfgang F. Driese, CEO and Chairman of DVB's Board of Managing Directors,
commented: "We are pleased to note the broad-based investor interest seen for
DVB's new refinancing vehicle. By issuing ship covered bonds we are broadening
our investor base, thus strengthening our position as a unique and globally
active specialist transport asset lender for maritime shipping, the aviation
industry, and for road and rail transport."

The issue amounts to EUR 250 million. The orderbook was closed on 25 November
2010. With 56 individual orders, the book was broadly diversified. 90% of the
issue volume was placed in Germany, with the remainder taken by investors in
Austria and Luxembourg. Investors solely included banks.

The three-year, 2.25% covered bond was placed at an issue price of 99.702%,
equivalent to a spread of 50 basis points over mid-swaps.

The ship covered bond is collateralised by a cover pool of approximately USD 1.0
billion in eligible shipping loans. The pool represents a cross-section of DVB's
entire Shipping Finance portfolio, as it comprises the segments of product
tankers (with a share in the pool of 21%), bulk carriers (18%), crude oil
tankers (18%), container carriers (15%), etc.

DVB's ship covered bond is subject to the strict security standards of the
German Pfandbrief Act ("Pfandbriefgesetz"). Moody's Investors Service, the
rating agency, assigned an "Aa3" rating to the issued ship covered bond.

Further information about DVB´s first issue of ship covered bonds can be
obtained under www.dvbbank.com > Investor Relations > Funding > Covered bond
information > press releases.

Note to Editors:
DVB Bank SE, headquartered in Frankfurt/Main, Germany, is the leading specialist
in the international Transport Finance business. The Bank offers integrated
financing solutions and advisory services in respect of Shipping Finance,
Aviation Finance, and Land Transport Finance. The Bank operates out of offices
in Frankfurt/Main, Hamburg, London, Cardiff, Rotterdam, Bergen/Oslo, Piraeus,
Zurich, Singapore, Tokyo, New York and Curaçao. DVB Bank SE is listed at the
Frankfurt Stock Exchange (ISIN: DE0008045501).

Further inquiry note:
Boris Siegers, Head of Group Treasury
Phone +49 (69) 9750-4616
[email protected]

Elisabeth Winter, Manager Investor Relations
Phone +49 (69) 9750-4329
[email protected]
end of announcement euro adhoc
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company: DVB Bank SE
Platz der Republik 6
D-60325 Frankfurt am Main
phone: +49 (0)69 9750-40
FAX: +49 (0)69 9750-4444
mail: [email protected]
WWW: http://www.dvbbank.com
sector: Banking
ISIN: DE0008045501
indexes:
stockmarkets: free trade: Stuttgart, Düsseldorf, regulated dealing/general standard:
Frankfurt
language: English

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