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For investors anticipating rising share prices and who are interested in investing in the equity market, WestLB AG, Düsseldorf/Münster, is issuing up to 500,000 discount certificates on shares of DaimlerChrysler AG.

Cap in €            Reference in €                 Initial Selling Price in €

25.12                31.40                              23.58

On September 20, 2004, the holder of a discount certificate has the right to request the following from WestLB:

• In the case that the share price is quoted under the maximum amount (cap) fixed on the issue date of the certificate on the determination date (September 13, 2004), the underlying shares will be delivered according to the ratio
• Should the closing price of the share be quoted equally or above the cap, the investor will receive a cash settlement in height of the cap per certificate.

The ratio is 1:1, i.e. one discount certificate controls one DaimlerChrysler AG share. Payment date is August 20, 2003. The certificates will be listed on the Düsseldorf, Frankfurt and Stuttgart (EUWAX) Stock Exchanges. Trading starts on August 11, 2003.