Press conference 19 April 2007

1. Press conference 19 April 2007  Press conference 19 April 2007

2. Back in the top league of German private banks as an advisory, service and sales & trading bank Successful two-bank strategy 1.  Meeting client requirements throughinterdisciplinary cooperation 2. Strong foothold in Germany and international growth 3. Efficient risk management forms backbone of business model 4.  Press conference 19 April 2007

3. Successful two-bank strategy • Independence: Clients and the market perceive BHF-BANK as an independent institute with its own corporate culture and product and service range. • Rating: Fitch Ratings upgraded the bank’s Long-term rating from A– to A and improved its Outlook from “stable” to “positive”. • 2006 result: We set out to achieve a triple-digit result for 2006. We accomplished this goal. • Transactions: Acquisition of the outstanding 10 % share in Frankfurt-Trust and the financial investment in Deutsche Hypo. • Outlook: The result as at March 2007 amounted to around € 42 million and exceeded the good figure for the first quarter of 2006 by more than 25 %. Successful two-bank strategy 1. Meeting client requirements throughinterdisciplinary cooperation 2. Strong foothold in Germany and international growth 3. Efficient risk management forms backbone of business model 4.  Press conference 19 April 2007

4. Meeting client requirements through interdisciplinary cooperation • Know-how and methods:Our private clients benefit, for instance, from the integrated know-how of our experts in Corporates business, Asset Management and Financial Markets. • Other examples: • Global Private Custody • Private Trading Desk in Financial Markets • Entire value added chain in Financial Services • Holistic approach: • Significant volume of net new funds in custody business and Private Banking • Commission income accounts for more than 50 % Successful two-bank strategy 1. Meeting client requirements throughinterdisciplinary cooperation 2. Strong foothold in Germany and international growth 3. Efficient risk management forms backbone of business model 4.  Press conference 19 April 2007

5. Strong foothold in Germany and international growth • German market:All divisions occupy strong competitive positions. • Client requirements: Meeting the demand for globally diversifiedearnings and risk structures • International scope:International expansion in selected countries with Switzerland as the hub • New location in Geneva • Representative office in Abu Dhabi • Exclusive partnership with the leading family office in India • Client network:Based on 30 years of experience in foreign trade finance, BHF-BANK benefits from excellent contacts to more than 1,000 first-class correspondent banks in over 100 countries. Successful two-bank strategy 1. Meeting client requirements throughinterdisciplinary cooperation 2. Strong foothold in Germany and international growth 3. Efficient risk management forms backbone of business model 4.  Press conference 19 April 2007

6. Efficient risk management forms backbone of business model • Lending business:No defaults since 2005 • Loan-loss provisions: • Excellent quality of the loan portfolio • Reversals of loan-loss provisions exceed additions • Core areas of competence:BHF-BANK offers market risk management as an innovative new service for institutional clients. We currently measure market risks for an asset volume of around € 150 billion on a daily basis. We intend to offer and expand this service on an international scale. Successful two-bank strategy 1. Meeting client requirements throughinterdisciplinary cooperation 2. Strong foothold in Germany and international growth 3. Efficient risk management forms backbone of business model 4.  Press conference 19 April 2007

7. Significant increase in net income and return on equity Net income before tax in € m Pre-tax return on equity in % 15% 14% 2005 2006 2005 2006  Press conference 19 April 2007

8. Quality of earnings base clearly improved Income in € m Proportion of commission income in % 4% 8% 2005 2006 2005 2006  Press conference 19 April 2007

9. Strong growth in all asset volumes Assets under management (group) in € bn Assets under custody in € bn 13% 39% 2005 2006 2005 2006  Press conference 19 April 2007

10. All divisions contributed to performance Asset Management & Financial Services Financial Markets Corporates Private Banking 2005 2006 2005 2006 2005 2006 2005 2006 Sharp rise in volumes Record result High level of results maintained Foundations laid for corporate finance business Strict risk management Once again preferred partner for UHNWIs Net new assets at record high Income Result  Press conference 19 April 2007