KfW IPEX-Bank presents its first own balance sheet and annual report

Frankfurt am Main (ots) - Balance sheet total EUR 53.3 billion

Good operating result of EUR 240.3 million was affected by the
consequences of the financial market crisis - but result remains
slightly positive

KfW IPEX-Bank GmbH, a legally independent, wholly owned KfW
subsidiary since 1 January 2008, today presented the balance sheet
for its first fiscal year. In 2008 the market environment for
international project and export finance was tense and characterised
by the effects of the turbulence in the international financial
markets. In this environment KfW IPEX-Bank looks back on a successful
year of business operation.

The balance sheet total at the end of 2008 amounts to EUR 53.3
billion, marking an increase of EUR 8.4 billion over the previous
year. The strong growth resulted primarily from high demand for
financing in the past fiscal year. With a volume of business of EUR
63.7 billion (balance sheet total, contingent liabilities and
irrevocable loan commitments) KfW IPEX-Bank is one of the main
specialist financers in its segment.

KfW IPEX-Bank achieved an operating result of EUR 240.3 million.
However, valuation losses had to be booked on the liquidity
portfolio, which are maintained to secure liquidity in accordance
with the requirements of the German Liquidity Regulation; these
losses amounted to EUR 92.5 million. "In view of the persistently
critical environment we have allocated by far the biggest portion of
our remaining operating result, or EUR 137.9 million, to risk
provisions for lending business", said Heinrich Heims, Speaker of the
Board of Managing Directors. "Although this does not permit our
annual result to match our initial planning, we are nevertheless
satisfied with the overall result in the present circumstances."
After taxes, KfW IPEX-Bank's net income for the year was EUR 5.1
million.

KfW IPEX-Bank's equity was EUR 2.6 billion as at 31 December 2008.
Its regulatory capital was EUR 4.0 billion in total. This results in
a total capital ratio of 14.05% and a tier 1 ratio of 9.32%.

"We expect the year 2009 to remain a continuing challenge for us",
said Heims. "We are monitoring the cyclical situation very closely,
and we are prepared for further turbulence. We know the markets in
which we operate very well, and we have endured crises in the past,
too. We are well equipped with our solid business model, our strong
equity base, our customers' confidence and the support from our
shareholder, and we will continue to make a significant contribution
to KfW's promotional mission of supporting German and European
economic interests even in difficult times."

The annual report of KfW IPEX-Bank can be downloaded from the
Internet at www.kfw-ipex-bank.de.

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and
corporate financing as well as trade and export financing
domestically and abroad. Worldwide it conducts all market activities
of KfW Bankengruppe that are carried out on commercial terms. KfW
IPEX-Bank GmbH has been operating as a legally independent subsidiary
since 1 January 2008 and contributes significantly to the promotional
mission of KfW Bankengruppe. It has approx. 490 employees (as of
March 2009) and is represented in the key economic and financial
centres around the globe.

Originaltext: KfW-IPEX-Bank
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Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: dela.strumpf@kfw.de
Tel. 069 7431-2984, Fax: 069 7431-9409, E-Mail:
info@kfw-ipex-bank.de, Internet: www.kfw-ipex-bank.de