SoFFin announces offer to the shareholders of Hypo Real Estate Holding AG (HRE)

Berlin (ots) - - The Federal Republic of Germany, acting through
the Financial
Market Stabilization Fund (SoFFin), is offering to purchase the
shares of all shareholders of Hypo Real Estate Holding AG at a
price of EUR 1.39 per share.
- This price includes a premium of approximately 10 percent on the
statutory minimum offer price of EUR 1.26.
- The acceptance period commences today and runs until 4 May 2009.
- SoFFin is aiming to acquire 100 percent of the shares; there is no
minimum acceptance level.

Frankfurt am Main, 17 April 2009 - The German Federal Financial
Supervisory Authority (BaFin) yesterday approved the offer document
for the voluntary public takeover offer from the Federal Republic of
Germany, acting through the Financial Market Stabilization Fund
(SoFFin), to all shareholders of Hypo Real Estate Holding AG.
The two-week acceptance period commences with the publication of the
offer document on 17 April 2009. The shareholders of Hypo Real Estate
Holding AG can tender their shares for sale to SoFFin as of today.
The acceptance period ends on 4 May 2009, at midnight. There will be
no extension to this period.

SoFFin is offering to purchase the shares of shareholders of Hypo
Real Estate Holding AG at a cash price of EUR 1.39 per share. This
price includes a premium of approximately 10 percent on the statutory
minimum price of EUR 1.26. The minimum offer price is determined by
the Supplementary Financial Market Stabilization Act, which came into
effect on 9 April 2009 and which defines the average domestic share
price between 1 and 15 February 2009 as the applicable price.

"In view of the serious situation in which Hypo Real Estate
Holding AG currently finds itself, we consider EUR 1.39 to be an
attractive price. We are offering the premium of 10 percent in
addition to the statutory price to ensure that the target of a 100
percent rescue purchase is a success in accordance with private law
and to prevent any further measures having to be taken. It is in
everyone's interest, the financial markets', the company's, its
employees' and customers', to get this done promptly", said Prof. Dr.
Hannes Rehm, Chairman of the SoFFin Management Committee.

With this takeover offer, the SoFFin aims to take full control of
Hypo Real Estate Holding AG. "That is the only way we will be able to
implement the necessary measures to stabilise the HRE Group and
consequently the financial markets legally, sustainably,
cost-efficiently and promptly", said Prof. Dr. Rehm.

More details on the offer
The full conditions are described in the offer document, which is
available online at http://www.SoFFin.de along with other documents
relating to the offer.
Copies of the offer document will also be provided for issue free of
charge to HRE shareholders at:

UBS Deutschland AG
Stephanstraße 14-16
60313 Frankfurt am Main
Germany

The offer can be accepted during the acceptance period which
commences today and ends at midnight on 4 May 2009. To accept the
offer, the shareholders of Hypo Real Estate Holding AG must contact
their custodian bank and submit a signed declaration of acceptance to
said bank before the end of the acceptance period.

Note to editors:

Financial Market Stabilization Fund (SoFFin)
The Financial Market Stabilization Fund is managed by the Financial
Market Stabilization Agency. It has been given the name "Financial
Market Stabilization Fund" as per its objective and because of the
limited period of time it will be in operation. The fund was created
on 17 October 2008 under the German Financial Market Stabilization
Act.

Please direct any questions relating to SoFFin's voluntary public
takeover offer to the person below. Please refer to
http://www.SoFFin.de for any related materials.

Originaltext: SoFFin
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Pressekontakt:
For further information, please contact:

Kirsten Bradtmöller
Financial Market Stabilization Fund (SoFFin)
- Financial Market Stabilization Agency -
Head of Planning & Support and Public Relations
Phone: 0 69 _23 88_30 09
E-mail: kirsten.bradtmoeller@soffin.de