Commerzbank AG

• 65.4 m new shares to be placed
• New shares with full dividend entitlement for 2008

Commerzbank AG today issues new shares from the capital increase announced on 31 August 2008. By means of an accelerated book-building offering 65,384,615 new shares are to be placed with institutional investors by a syndicate of international banks.

The new shares have full dividend entitlement for the financial year 2008. They are not subject to preemptive rights of the existing shareholders. Credit Suisse, JP Morgan, Morgan Stanley and Commerzbank act as Joint Bookrunners for the transaction.

The proceeds of the issue are to partially finance the acquisition of Dresdner Bank AG.

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For the period of 90 days following the settlement date, the bank will not issue additional shares without the consent of the Joint Underwriter Bookrunners. This release does not constitute an offer to sell or a solicitation of an offer to buy shares of Commerzbank. Shares of Commerzbank may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Commerzbank does not intend to conduct a public offering of shares in the United States.