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Ad-hoc release

22.03.2002 - comdirect sells French subsidiary

Quickborn, Germany, 22 March 2002.

comdirect bank AG, Quickborn, today announced that it has sold all shares in its wholly-owned subsidiary, comdirect S.A., Paris, to ProCapital S.A., Paris.
The agreement is subject to the approval of the French banking regulatory authorities.

With this sale, comdirect bank AG continues the announced measures to restructure the group, which are aimed at achieving substantial cost reductions. The extraordinary expenses are included in the financial statements 2001 of the comdirect bank group, which have already been adopted.


Contact:

comdirect bank AG
Investor Relations
Gregor Sparfeld
Phone: +49-4106-704-1966

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