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Commitment to Transparency

The recognition that responsible and transparent corporate governance on the part of companies active in the international financial markets requires coherent corporate governance standards is firmly rooted in the corporate philosophy of WestLB AG.

Although only listed German companies are required to comply with the German Corporate Governance Code (the “GCGC”), WestLB AG therefore decided voluntarily in 2006 to base its corporate governance on the GCGC, in its current version and any revised versions. The GCGC was not revised in 2011. Therefore, the version of May 26, 2010 remains in full force and effect for this year.

The GCGC reflects essential statutory regulations for the management and supervision of German listed companies and contains nationally and internationally recognised standards for good and responsible governance. The GCGC clarifies the obligation of the Managing Board and the Supervisory Board to ensure the continued existence of the enterprise and its sustainable creation of value in conformity with the principles of the social market economy.

Pursuant to the GCGC, WestLB AG maintains on this website previous declarations of conformity for a minimum period of five years. The Bank also publishes the current declaration of conformity at this address. The corresponding reporting for the 2011 financial year can be downloaded here.