COREALCREDIT BANK AG

appeal with the Cologne Higher Regional Court (Oberlandesgericht Köln); the outcome of
the appeal remains open. The Issuer expects long lasting lawsuits. If the Issuer loses one
of these proceedings - at whatever level of the proceedings - and accordingly might have
to face a request for payment by the opposing side (against provision of collateral, if
applicable) there would be a significantly adverse effect on the Issuer's liquidity situation.
This may have an impact on the Issuer's short- and medium-term business potential.
The Issuer has made provisions for legal costs arising from legal disputes with the holders of profit
participation certificates.
Proceedings relating to former members of the Management Board
In connection with derivative transactions, the Issuer has sued former members of the
Management Board who were members thereof between mid-2001 and mid-2002 for damages
amounting to EUR 250,000,000.00. The claim was dismissed in the first instance. The Issuer's
appeal against this dismissal of the action was dismissed by the Frankfurt am Main Higher
Regional Court (Oberlandesgericht Frankfurt am Main) in March 2011. The Issuer filed a
Nichtzulassungsbeschwerde, i.e. an appeal against the denial of the Frankfurt am Main Higher
Regional Court to grant leave to appeal with the German Federal Court of Justice
(Bundesgerichtshof).
Governmental proceedings
The Issuer is not involved, nor was it involved in the last twelve months, in any governmental
interventions that possibly will have or have recently had significant effects on the financial
situation or profitability of the Issuer nor is the Issuer aware that such governmental interventions
are pending or threatened.
SIGNIFICANT CHANGE IN THE ISSUER'S FINANCIAL POSITION
Save as disclosed in section headed "Business Development and Outlook for the Year 2012" on
page 50, there has been no significant change in the financial position of the Bank since
31 December 2011.
MATERIAL CONTRACTS
In the usual course of its business, the Issuer enters into numerous contracts with various other
entities. As at the date of this Prospectus, the Issuer has not, however, entered into any material
contracts outside the ordinary course of its business which could result in an obligation or
entitlement that is material to the Issuer's ability to meet its obligation to security holders in respect
of the securities being issued.
THIRD-PARTY INFORMATION
Where information has been sourced from a third party, COREALCREDIT confirms that, to the
best of its knowledge, this information has been accurately reproduced and that, so far as
COREALCREDIT is aware and able to ascertain from information published by such third party, no
facts have been omitted which would render the reproduced information inaccurate or misleading.
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