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Despite the difficult market environment and extremely weak demand in the international financial markets, WestLB has been able to consolidate or even expand its market position in core business segments. In addition, numerous awards testify to the Bank’s ability to innovate and its expertise in structuring complex, tailor-made financing solutions.

WestLB is among the leading players in the fast-growing specialised finance market, which is one of the Bank’s core business segments. In the past fiscal year, the Specialised Finance unit again made an above-average contribution to Group results. A market share of 4.2% and 4th place in the international league tables mean that WestLB maintained its position as a leading bank in the project finance market. In addition to transaction and country-related awards, WestLB won the coveted international title of "Global Arranger of the Year" for the first time.

WestLB was able to expand its strong position in the asset securitisation market and increase its global market share in sub-markets. Demand in this market continued to grow, especially in Germany and Europe. WestLB was the world’s No. 6 in the asset backed commercial paper market, the most important sub-market, and Europe’s No. 2 in multi-seller programmes.

WestLB also strengthened its position in the leveraged finance market, becoming one the leading European providers. In the commodity finance segment, WestLB has been among the leading banks for many years. The Bank’s intelligent financing solutions have won the "Deal of the Year" award each year since 1997. As the global leader in the forfaiting market, WestLB won the "Best Forfaiting House" award for the fourth consecutive time.

WestLB also holds leading positions in the interest rate and currency markets. WestLB is among the five banks that cover 75% of Germany’s FX trading. In the bond issuance market, WestLB focuses on corporate bonds as well as government and municipal bonds. In the latter segment, WestLB is the No. 3 in the euro-zone; in the corporate bonds segment, WestLB has benefited from the growing trend towards securitisation and has moved up to join the top ten banks in the first few months of this year.

WestLB is also a leading player in the market for syndicated Euroloans. In 2002, the Bank clearly outperformed the overall market, growing by 35.5%. As a result, the market share increased to 12%.

WestLB Panmure is a strong brand in the European equity market. It is Germany’s No. 1 in terms of sales and research quality and the No. 9 in equity certificates on the EUWAX, Europe’s leading warrant exchange. WestLB has even become the market leader on the EUWAX for capital-guaranteed products.

In April 2002, WestLB was the first issuing house to offer certificates on the newly developed Dow Jones Euro STOXX^SM Sustainability Index. The index reflects the leading European companies with sustainability principles. In a comparison of sustainability and ecology certificates carried out by ÖKO-TEST magazine in February 2003, WestLB´s product took first place.

In the area of equity investment finance, WestLB is a partner to medium-sized growth companies, either through direct investments or through its own venture capital and private equity funds as well as externally managed funds. Due to the difficult stock market situation, private equity is playing an increasingly important role for new issues. WestLB is the No. 2 bank in the private equity market; banks are the second most important source of private equity in Germany after funds.