COREALCREDIT BANK AG

The distribution of this Prospectus, any document incorporated herein by reference and any Final
Terms and the offering, sale and delivery of the Notes in certain jurisdictions may be restricted by
law. Persons into whose possession this Prospectus or any Final Terms come are required by the
Issuer and any Dealer to inform themselves about and to observe any such restrictions. In
particular, the Notes and the Guarantee, if any, to be issued upon substitution of the debtor in
accordance with the terms and conditions of the Notes have not been and will not be registered
under the United States Securities Act of 1933, as amended (the "Securities Act"), or with any
securities regulatory authority of any state or other jurisdiction of the United States, and may
include Notes in bearer form that are subject to U.S. tax law requirements. Subject to certain
exceptions, Notes and the Guarantee, if any, may not be offered or sold (or, in the case of Notes
subject to U.S. tax law requirements, delivered) within the United States or to, or for the account or
benefit of, U.S. persons (as defined in the U.S. Internal Revenue Code of 1986, as amended, and
the regulations thereunder and in Regulation S under the Securities Act ("Regulation S"). The
Notes and the Guarantee, if any, are being offered and sold outside the United States to non-U.S.
Persons in reliance on Regulation S. For a description of these and certain restrictions on offers,
sales and deliveries of Notes and on the distribution of the Prospectus or any Final Terms and
other offering material relating to the Notes, see "Selling Restrictions" on page 174 of this
Prospectus.
The language of the Prospectus is English. The historical financial information incorporated by
reference or set out in the Prospectus, respectively, is in the German language. Any other part of
this Prospectus in the German language constitutes a translation. In respect of the issue of any
Tranche of Notes under the Programme, the German text of the Terms and Conditions may be
controlling and binding if so specified in the relevant Final Terms.
This Prospectus may only be used for the purpose for which it has been published.
This Prospectus and any Final Terms may not be used for the purpose of an offer or
solicitation by anyone in any jurisdiction in which such offer or solicitation is not
authorised or to any person to whom it is unlawful to make such an offer or solicitation.
The Prospectus and any Final Terms do not constitute an invitation to subscribe for or
purchase any Notes.
In connection with the issue of any tranche of Notes, the Dealer or Dealers (if any) named
as the stabilising manager(s) (or persons acting on behalf of any stabilising manager(s)) in
the applicable Final Terms may over-allot Notes or effect transactions with a view to
supporting the price of the Notes at a level higher than that which might otherwise prevail.
However, there is no assurance that the stabilising manager(s) (or persons acting on behalf
of a stabilising manger) will undertake stabilisation action. Any stabilisation action may
begin on or after the date on which adequate public disclosure of the terms of the offer of
the relevant tranche of Notes is made and, if begun, may be ended at any time, but it must
end no later than the earlier of 30 days after the issue date and 60 days after the date of the
allotment of the relevant tranche of Notes. Any stabilisation action or over-allotment must
be conducted by the relevant stabilising manager(s) (or person(s) acting on behalf of any
stabilising manager(s)) in accordance with all applicable laws and rules.
In this Prospectus, all references to "EUR", "€" or "Euro" are to the single currency of certain
member states of the European Union.
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