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Mittelbrandenburgische Sparkasse in Potsdam (MBS) is acquiring 100% of the shares of Weberbank AG, Berlin, thereby strengthening its position in the Berlin-Brandenburg region. MBS and WestLB AG as the seller of Weberbank AG have reached an agreement to this effect which is subject to final approval by the relevant authorities. The corresponding purchase agreement was signed by both parties on May 14, 2009. Walter Schubert, Chairman of the MBS Managing Board, said: “With the purchase of Weberbank AG, MBS acquires an old-established brand name with an attractive customer base in the high net worth private client market, as well as a dedicated team of sales specialists in this field.” Weberbank AG will operate as an independent subsidiary and, as part of a twin-brand strategy, offer MBS access to customer groups which hitherto were not readily available to a savings bank.

With the sale of Weberbank AG, WestLB AG will focus further on its core competencies and at the same time take account of the framework conditions imposed in connection with the decision of the European Commission.

The sale of Weberbank AG marks a further logical step in the restructuring of WestLB AG, which provides for a reduction of non-strategic assets and a streamlining of its balance sheet. Going forward WestLB will focus on three business segments: Verbund/Mid-Caps, Transaction Banking and Capital Markets/Corporates/Structured Finance. Hubert Beckmann, Vice Chairman of the WestLB AG Managing Board and Chairman of the Supervisory Board of Weberbank AG, added: “We have found a solution which is both fair and makes good economic sense for all parties involved. Weberbank AG and its highly qualified employees have acquired in MBS a strong partner in their core market. For WestLB AG the sale marks an important step in the further restructuring of the Bank.”