Ad-hoc release

15.11.2000 - comdirect bank AG increases profit ...

comdirect bank AG increases profit to EUR 53.9 million as at 30 September 2000 ( 15.11.2000 )

Quickborn, Germany, 15 November 2000. comdirect bank AG (WKN 542800)today announced that it has continued its positive business development during the first nine months of this year and clearly exceeded its target figures. comdirect was able to gain almost 300,000 new direct brokerage customers during the first three quarters - a new record for the first three quarters of any year inthe company's history. Total deposits and custody accounts increased to EUR 12.4 billion, up 95% as compared to 30 September 1999. Securities turnover totalled EUR 28.4 billion during the first nine months of this year.

comdirect posted a net commission income of more than EUR 150.0 million by carrying out over 7.8 million orders during the first nine months of the year - an increase of more than 200% compared to the first three quarters of 1999. During the same period, net interest income before provisions grew by EUR 26.4 million to EUR 42.0 million.

Administrative expenses showed a moderate increase of 148% to EUR 138.8 million as compared to the first three quarters of 1999, enabling comdirect to report a pre-tax profit of EUR 53.9 million.Compared to the same period of last year, this represents an increase of EUR 44.4 million or 466%.

For the business year 2000, comdirect will for the first time publish a consolidated financial statement. The cumulative expenses of the company's European subsidiaries will impact comdirect's consolidated results.

Detailed information about the quarterly figures of comdirect will be published in our Quarterly Report III/2000 on our website at

comdirect bank AG
Gregor Sparfeld
Investor Relations
Tel.: ++49 / 4106 / 704-1966
Fax : ++49 / 4106 / 704-1969

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