Ad-hoc release

02.09.2002 - comdirect bank AG: Profit target 50 million euros in 2004

The Supervisory Board of comdirect bank AG (German securities number 542800) today approved an extensive program of the Board of Managing Directors designed to boost performance. The program focuses on structural cost reductions in comdirect?s core market Germany. The measures will take effect immediately. In this way, the bank intends to achieve a positive result from ordinary activities in Germany this year on previous year level. Implementation of the measures will lead to nonrecurring restructuring expenses of 32 million euros, which will burden the annual result 2002. The program will lead to significant savings, which will amount to 44 million euros per year in 2004. The profit target for 2004 is 50 million euros.

comdirect bank AG
Investor Relations
Reiner Sedat

Tel. 0049 4106 704 1960
Fax 0049 4106 704 1969

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