Mr Martin Halblaub, the Member of the Board of Management of NORD/LB Norddeutsche Landesbank responsible for capital market business, has asked to be relieved prematurely of his duties as a Member of the Board of Management. This is because of differences of opinion with regard to the expansion and future strategic orientation of the Bank's capital market activities. At the next meeting of the Supervisory Board on 11 January 2010, the Chairman of the Supervisory Board, Mr Hartmut Möllring, will propose that Halblaub's request should be granted.

"Since his appointment to the Board of Management, Martin Halblaub has made some vital contributions to the way NORD/LB has coped with the crisis on the financial markets," Möllring declared. "Through his structuring and placement of the Guaranteed Medium Term Note Programme, for example, he was able to convince the Bank's owners and the EU Commission of the merits of a new way of refinancing the Bank's activities in difficult times. We owe him a debt of gratitude for this."

"Martin Halblaub has succeeded within a very short time in establishing a customer-orientated approach in NORD/LB's capital market business," said the Chairman of the Board of Management of NORD/LB, Dr Gunter Dunkel. "He has made a substantial contribution to NORD/LB's success. We are losing an excellent colleague with whom we will nevertheless maintain a good friendship."

Martin Halblaub is 42 years old. He joined the NORD/LB Board of Management on 1 August 2008, since when he has been responsible for the Bank's capital market business.

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