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Press releases 2008

December 18, 2008

Rentenbank plans to raise approximately EUR 10bn in 2009

Landwirtschaftliche Rentenbank plans to raise the equivalent of approximately EUR 10bn of medium and long-term funding in 2009. This figure includes all transactions in the capital markets with maturities of more than two years. The promotional bank will issue up to four benchmark bonds in the coming year in medium-term maturities with a minimum volume of EUR/USD 1bn. In addition, Rentenbank plans to issue liquid transactions in other currencies. These transactions will be complemented by smaller public issues and private placements in various currencies and different structures. Moreover,...

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December 18, 2008

Rentenbank plans to maintain the Kangaroo Market as a strategic source of funding in 2009

Landwirtschaftliche Rentenbank, Germany's agency for agribusiness and rural development, today announced its issuing plans in the Australian Dollar domestic market for 2009. Rentenbank remains committed to issuing in the Kangaroo market subject to investor demand and market conditions. Unlike previous years, a volume target for 2009 is not given due to the current market volatility. Issuance is likely to include new issues and well supported increases of outstanding transactions to further complete and extend Rentenbank's yield curve, underpinning the strategic approach to this market. The...

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August 27, 2008

First Half of 2008: Double-digit growth rates for promotional loans and operating result

- Demand for special loans increases by approx. 35% to €2.0 billion, margins for new issues improve, net interest income and operating result clearly above prior year level, cost/income ratio declines to 12.7% from 14.5% - The business trend of Landwirtschaftliche Rentenbank, Frankfurt/Main, Germany, in the first half of 2008 was characterized by exceptionally brisk new business activity and a significant improvement in financial performance. As stated in Rentenbank's half-yearly report published today, the German promotional bank for agriculture and rural areas benefited from growth spurre...

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May 7, 2008

Good start in 2008: Double-digit growth in special loans and in operating result

Q1 2008: Special loans granted increase by 46%, higher margins generated from issue business, operating result up 17% from the prior year (German Commercial Code, HGB) Fiscal year 2007: Promotional lending volume increases by 6.5% to € 59.1 billion, net interest income and operating result (before valuation adjustments) up from the prior year (under both HGB and IFRS), IFRS measurement adjustments represent hidden reserves, no subprime exposure, cost-income ratio amounts to 16.3%. Dr. Marcus Dahmen, spokesman of the Board of Management of Landwirtschaftliche Rentenbank, Frankfurt/Main,...

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April 30, 2008

Rentenbank appoints Co-Heads Treasury

Effective from May 1, 2008, Stefan Goebel and Norbert Schlereth have been appointed by the management board of Landwirtschaftliche Rentenbank as senior vice presidents and co-heads treasury. In this position they succeed Dr. Horst Reinhardt who became a full member of the promotional bank's management board as of October 1, 2007. In their new function they will have joint responsibility for treasury management and risk management. Additionally, Goebel will focus on investor relations and funding, Schlereth on asset business. Goebel and Schlereth previously were co-heads of funding and asset...

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January 23, 2008

Business year 2007: Rentenbank increases profits and promotional lending

Landwirtschaftliche Rentenbank, Frankfurt am Main, further increased its promotional lending, income and profits in 2007. Total assets (according to German accounting standards [HGB]) grew by 7.1 percent from €82.5 billion to €88.8 billion. The Management Board expects the operating result (before risk provisions) to rise by 8.6 percent to €201.2 million. The cost/income ratio improved further to 16.3 percent (17.2 percent). "These results reflect our successful sustainability-orientated strategy and have once again enabled us to disburse a larger volume of promotional loans", stressed Dr...

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December 10, 2007

Rentenbank planning to raise approximately EUR 11bn in 2008

Landwirtschaftliche Rentenbank is planning to raise the equivalent of approximately EUR 11bn of medium and long-term funding in 2008. This figure includes all transactions in the capital markets with maturities of more than two years. The promotional bank is likely to once again issue four benchmark bonds in the coming year in medium-term maturities with a minimum volume of EUR/USD 1bn. In addition, Rentenbank is planning to issue liquid transactions in other currencies. Benchmark funding will be complemented by smaller public issues and private placements in various currencies and differen...

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September 27, 2007

Dr. Marcus Dahmen succeeds Dr. Uwe Zimpelmann

Dr. Uwe Zimpelmann (64), spokesman of the management board of Landwirtschaftliche Rentenbank, Frankfurt, is retiring on September 30, 2007. Since 1986, he has been a full member of the management board of this promotional bank for agriculture and rural areas. During this term, he has been in charge of issuing business, personnel, legal matters and public relations.Effective from October 1, 2007, Dr. Marcus Dahmen (42) becomes a full member of the management board of Landwirtschaftliche Rentenbank. He was head of the department “Public Sector Germany” and member of the management board “GERM...

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July 30, 2007

Dr. Marcus Dahmen has been appointed as the future spokesman of the management board

Dr. Marcus Dahmen (42), currently head of Public Sector Germany and member of the management board GERMAN MID CAP, Deutsche Bank AG, Frankfurt, has been appointed by the advisory board of Landwirtschaftliche Rentenbank, Frankfurt, as the future spokesman of the management board of the promotional bank. Marcus Dahmen will take up the position on 01.01.2008 at the latest and will then replace the current spokesman, Dr. Uwe Zimpelmann (64). The advisory board thus fulfilled the latter's wish to retire at the end of the year at the latest.After completing his studies in economics and gaining hi...

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July 25, 2007

Half-Yearly Financial Report 2007: Improved profitability allows higher promotional volume

In the first half year of 2007, new business for special loans 25 % over the previous year, buoyant issuance activity, interest surplus and operating result slightly increased, group cost-income ratio falls from 15.7 to 14.4 %. The business performance of Landwirtschaftliche Rentenbank, based in Frankfurt am Main, was denoted by buoyant new business and a slightly improved profitability in the first half of 2007. As the promotional bank for agriculture and rural areas states in its half yearly report published today, it was again possible to grant more financing for promoting agriculture...

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