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WestLB plans to establish a new Corporate Communications business unit from January 1, 2004 as part of the Bank´s restructuring process to take account of the increasing importance of internal and external corporate communication. Dr. Michael Wilde, the long-serving head of the Press Department, retires on November 1, 2003. The tasks of the Press Department in the present Communications/Economics business unit will be transferred to the new Corporate Communications business unit, which will also be represented in London and New York. The new business unit will be headed by Dr. Claudia Vogl-Mühlhaus, who is currently in charge of corporate communications at Credit Suisse Asset Management Deutschland. Dr. Wilde will continue to advise the Bank in an advisory capacity during the reorganisation process.

Enclosure on Dr. Vogl-Mühlhaus

Dr. Claudia Vogl-Mühlhaus, aged 45, joins WestLB from Credit Suisse Asset Management (CSAM), the international asset management arm of Credit Suisse. She is currently in charge of corporate communications in Germany and has performed a number of important functions at the European level, including Head of European PR for retail investment funds. Claudia Vogl-Mühlhaus was previously employed in the Press and Investor Relations Department of Dresdner Bank, where she was responsible for crisis communication and media relations for the Board spokesman, and was in charge of the public relations activities of the Economics Department. Claudia Vogl-Mühlhaus holds a doctorate in business management and worked for many years in financial journalism.