EANS-News: DVB Bank, Mitsubishi Corporation (UK) and Engine Lease Finance Corporation enter into new engine leasing venture

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Joint Ventures/Cooperation/Collaboration

Frankfurt am Main (euro adhoc) - DVB Bank SE (DVB), the
Frankfurt-based bank that specialises in transport finance,
Mitsubishi Corporation (UK) Plc (MCUK), the London subsidiary of
Mitsubishi Corporation (MC), the global trade and investment company
and Engine Lease Finance Corporation (ELF), the world´s largest
independent aero-engine lessor, have formed a joint venture company,
Deucalion MC Engine Leasing Limited, incorporated in Ireland, for the
purpose of investing in commercial aircraft engines subject to leases
with airlines worldwide.

The joint venture company has completed its first portfolio
acquisition, consisting of seven commercial aero engines which were
acquired from ELF during December 2009 and March 2010. The portfolio
comprises IAE V2500, CFM56-5/-7 and CF6-80 engine types on operating
leases with carriers from Europe, the Middle East, Asia and the
Americas.

The leases range in term from one to four years and have a staggered
maturity profile. ELF retains lease management and remarketing
responsibility.

Under the terms of the agreement, DVB and MCUK are the joint senior
debt providers and Deucalion funds (managed by DVB´s Group Investment
Management team in London), MCUK and ELF are equity providers. DVB´s
engine management subsidiary, TES Aviation completed the pre purchase
due diligence on behalf of the joint venture partners.

Bertrand Grabowski, Member of the Board of Managing Directors of DVB
and responsible for Aviation commented, "We are delighted to have
concluded this new joint venture vehicle which represents our first
such collaboration with Mitsubishi Corporation (UK) Plc and our third
with Engine Lease Finance Corporation. Our previous collaborations
have proved to be very successful and we fully expect this new
venture to be equally so. This new venture continues the Bank´s
strategy of investing in the aero engine sector, giving it an
ownership interest through the Deucalion funds in a total of 24 aero
engines on leases worldwide. This is in addition to its successful
acquisition of the TES Aviation business in 2007."

Katsuaki Morooka, General Manager of the Industrial Finance,
Logistics and Development Division in MCUK, added, "We are very
excited to be able to start this new business platform with ELF and
DVB Bank in Europe. MC is currently running an aircraft leasing
business in Dublin and we believe that this joint venture will give a
new and progressive perspective to our airline business in this
region. We hope the project will go from strength to strength and
grow with the support of our partners."

Jon Sharp, President and CEO of ELF stated, "We are pleased to have
established a new partner in Mitsubishi Corporation (UK) Plc and
believe that our affiliation with them will reflect the excellent
collaboration we have with Deucalion and DVB, with whom we now have
concluded our third such transaction. Our intentions towards our
partnerships are always long-term driven and we look forward to
achieving more together."

Note to Editors:

DVB Bank SE, headquartered in Frankfurt/Main, Germany, is the leading
specialist in the international Transport Finance business. The Bank
offers integrated financing solutions and advisory services in
respect of Shipping Finance, Aviation Finance and Land Transport
Finance. TES Aviation, a subsidiary of DVB, is an aircraft engine
asset management organization, offering engine management consultancy
services, engine disassembly, part-out and materials procurement, to
owners and operators of aircraft engines. www.dvbbank.com
www.tes-uk.com

Mitsubishi Corporation (UK) Plc is the London subsidiary of
Mitsubishi Corporation. Based in Tokyo, Japan, it is a general
trading company with over 200 bases in Japan and approximately 80
countries covering a wide range of commercial business sectors. As
one of the world's most diverse business enterprises, Mitsubishi
Corporation works closely with its global clientele to develop new
businesses through project coordination, sourcing of raw materials,
capital investments and the development of sales and marketing
channels. www.mitsubishicorp.com/gb/en/

Engine Lease Finance Corporation is the world´s leading spare engine
financing and leasing company, specialising in the provision of
flexible medium to long-term spare engine packages for the airline
industry. Headquartered in Shannon, Ireland, ELF is owned by BTMU
Capital Corporation of Boston, USA, which is itself owned by The Bank
of Tokyo-Mitsubishi UFJ, Ltd., one of the world´s largest financial
institutions. The current ELF engine leasing portfolio (owned and
managed) exceeds 200 engines, with a total value approaching $1.5
Billion. www.elfc.com

For further information on the project, please contact:

DVB Paul Da Vall, Senior Vice President, Group Investment Management,
Phone +44 (0) 20 7618 9728, paul.davall@dvbbank.com

MCUK Katsuaki Morooka, General Manager, Industrial Finance, Logistics
and Development Division, Phone +44 (0) 20 7025 3088,
katsuaki.morooka@mitsubishicorp.com

ELF Jon Sharp, President and Chief Executive Officer, Phone +44 (0)
7785 314295, jon.sharp@elfc.com

For Corporate Communications, please contact:

DVB Prof. Dr. Borislav Bjelicic, Corporate Communications, Phone + 49
(0) 69 9750 4390, borislav.bjelicic@dvbbank.com

MCUK Julie Rogers, Corporate Communications, Phone +44 (0) 20 7025
3034, Fax +44 (0) 20 7025 3029, julie.rogers@mitsubishicorp.com

end of announcement euro adhoc
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ots Originaltext: DVB Bank SE
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Prof. Dr. Borislav Bjelicic, Corporate Communications

Phone + 49 (0) 69 9750 4390, borislav.bjelicic@dvbbank.com

Branche: Banking
ISIN: DE0008045501
WKN: 804550
Börsen: Stuttgart / free trade
Düsseldorf / free trade
Frankfurt / regulated dealing/general standard