Finishing the year - 5-year KfW-Benchmark with a volume of 3 billion Euro

Frankfurt (ots) - Fifth Euro Benchmark Transaction in 2010 Second
5-year Euro Benchmark Transaction in 2010

Yesterday evening KfW added a 5 year Euro Benchmark to its Euro
Benchmark Programme. The new issue is KfW's fifth Euro benchmark
transaction of 2010 and the second 5-year of 2010, following a EUR 5
billion April 2015 issued earlier this year.

The EUR benchmark V/2010 matures on Nov 16, 2015 and pays a coupon
of 1.875% p.a. The re-offer price is 99.787% (Yield 1.920% p.a.).
This corresponds to a yield pick-up of 38.8 basis points to the
German government bond OBL due October 2015. The lead managers for
the transaction were Barclays, Deutsche Bank and Morgan Stanley. The
bond received the same triple-A rating from Fitch Ratings, Moody's
and Standard & Poor's as all KfW bonds.

The EUR 3 billion transaction was announced on Monday afternoon
with a price guidance of 16 basis points below mid swaps. The order
book opened Tuesday morning and closed after six hours at EUR 3.7
billion and with 96 investors.

The breakdown of the order book by sector is as follows:

Breakdown by investor type:

Banks: 74%
Central banks: 12%
Funds: 8%
Insurances: 5%
Other: 1%

Geographical breakdown:

Europe: 80%
- United Kingdom: 37%
- Germany: 26%
- Eastern Europe: 5%
- Italy: 4%
- France: 3%
Asia: 17%
America: 3%

KfW has announced refinancing needs of around EUR 75 billion for
2010. With this bond over 98%, or EUR 73.5 billion, have already been
raised.

This press release is not an offer of securities for sale in the
United States. Securities may not be offered or sold in the United
States absent registration or an exemption from registration. KfW has
registered the securities that are the subject of this press release
for sale in the United States. The offering of the securities in the
United States will be made by means of a prospectus that may be
obtained from KfW and will contain detailed information about KfW and
its management, financial statements and information about the
Federal Republic of Germany.

Term Sheet
KfW EUR Benchmark V/2010
1.875% - due 16 Nov 2015
ISIN: DE000A1EWEB2
Issuer: KfW
Guarantor: Federal Republic of Germany
Rating: AAA (Fitch Ratings)/ Aaa (Moody's) /
AAA (Standard & Poor's)
Size: EUR 3,000,000,000
Maturity: 16 Nov 2010 - 16 Nov 2015
Coupon: 1,875% p.a.
Re-offer price: 99.787%
Yield: 1.920% p.a.
Format: Global
Listing: Frankfurt

Lead Manager:

Barclays
Deutsche Bank
Morgan Stanley

Co-Lead Manager:

Banca Akros Gruppo BPM
Bank of America / Merrill Lynch
Citi
Commerzbank
Credit Agricole CIB
Deka Bank
DZ Bank
LBBW
Société Générale
Unicredit (HVB)

Selling Group:

Danske Bank A/S
ING
Natixis
Nomura
Nordea Bank Danmark A/S
RBC
Santander
SEB

Originaltext: KfW
digital press kits: http://www.presseportal.de/pm/41193
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Contact:
Eske Ennen
KfW, Palmengartenstraße 5-9, 60325 Frankfurt
Kommunikation (KOM)
Tel. +49 (0)69 7431-9766, Fax: 069 7431-3266,
E-Mail: presse@kfw.de, Internet: www.kfw.de