euro adhoc: DAB bank AG / Quarterly or Semiannual Financial Statements / 3rd Quarter results 2002 (E)

Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.

Munich, November 14, 2002. In the 3rd quarter of 2002 DAB bank AG posted -15.36 EUR million in group result after taxes and minority interests (Q2/2002: -12.92 EUR million). Total revenues came to 39.49 EUR million (Q2/2002: 36.54 EUR million), of which 16.12 EUR million are net interest income (Q2/2002: 10.83 EUR million), 23.77 EUR million of gross commission income (Q2/2002: 21.72 EUR million) and 1.81 EUR million of other income (Q2/2002: 3.97 EUR million).

In spite of the first-time consolidation of direktanlage.at in the 3rd quarter of 2002, administrative expenses continued to decline, to 42.33 EUR million (Q2/2002: 42.75 EUR million). At the same time, net commission income in the 3rd quarter rose to 17.62 EUR million (Q2/2002: 15.57 EUR million). In the past quarter DAB reduced personnel expenses despite the costs of the workforce reduction and the first-time consolidation of direktanlage.at to 13.28 EUR million (Q2/2002: 13.37 EUR million). In Germany alone, the number of employees was reduced by 39 during the last quarter, to 572; since the end of the 3rd quarter of 2001 a total of 231 jobs have been cut at this location.

Throughout the Group, the number of net new accounts managed by DAB bank grew by 40,101 (Q2/2002: 7,221). This figure includes the 26,300 customers of direktanlage.at for the first time. In Germany, DAB bank managed to gain 5,228 net new accounts (Q2/2002: -1,824). The total number of accounts managed by DAB bank as at September 30, 2002 amounted to 606,020 (Q2/ 2002: 565,919). The volume of assets under management amounted to 9.86 EUR bn (Q2/2002: 10.93EUR bn) and thus outperformed the European market indices. The number of transactions rose by approx. 13% compared with the previous quarter, to 1.21 million (Q2/2002: 1.07 million).

Key facts and figures of the DAB bank Group
for the 3rd Quarter of 2003

Key figures Q 3/2002* Q 2/2002 Q 3/2001 Accounts Number 606,020 565,919 526,124 Net new customers Number 40,101** 7,221 25,175 Executed transactions Number 1,215,150 1,072,074 1,288,586 Transactions per average account (Annualized) Number 8.29 7.63 10.04 Customer assets under management EUR bn 9.86 10.93 10.53 Of which, in mutual funds EUR bn 4.12 4.44 4.08 Results Q 3/2002 Q 2/2002 Q 3/2001 Net interest income (before provisions) EUR mn 16.12 10.83 7.2 Net commission income EUR mn 17.62 15.57 16.25 Administrative expenses EUR mn 42.33 42.75 53.88 Earnings after tax and minority interests EUR mn -15.36 -12.92 -26.14 Earnings per share EUR -0.20 -0.19 -0.38

* As at July 31, 2002 the austrian direktanlage.at AG was consolidated for the first-time.
** Including 26,300 customers of direktanlage.at.

Further inquiry note:
Dariush Yazdani
Tel: +49(0) 172-8502560
E-Mail: dariush.yazdani.com
Tel: +49(0) 89-500 68-0
FAX: +49(0) 89-500 68-630
Email: information@dab.com

end of announcement euro adhoc

Emittent: DAB bank AG
Landsberger Str. 428
DE-81241 München
Tel: +49(0) 89-500 68-0
FAX: +49(0) 89-500 68-630
Email: information@dab.com
WWW: http://www.DAB-bank.com
ISIN: DE0005072300
WKN: 507230
Indizes: Nemax 50
Börsen: free trade Baden-Württembergische Wertpapierbörse, Bayerische Börse, Berliner Wertpapierbörse, Börse Düsseldorf, Bremer Wertpapierbörse (BWB), Hamburger Wertpapierbörse, Niedersächsische Börse zu Hannover; Neuer Markt Frankfurter Wertpapierbörse Branche: Financial & Business Services
Sprache: Englisch

OTS-ORIGINALTEXT UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS | OTB0002