News

13/09/2007

GO’s reaction to bid for DEPFA from Hypo Real Estate

Governance for Owners (GO), an institutional investor in DEPFA, announces
today that it intends to tender its shares to Hypo Real Estate Group. GO
holds 1.7% of DEPFA’s issued share capital making it the sixth largest
independent shareholder in the company. GO has been a supportive
shareholder of DEPFA over the period of its investment and sees the
strategic rationale of the merger of the two businesses. GO looks forward
to becoming a shareholder in the new Hypo Real Estate Group.

Commenting on the bid, Peter Butler, GO’s CEO, said: “In our opinion, this
merger sets DEPFA’s business on course for the next stage of its
development.”

ENDS

For further information contact:
Michelle Edkins, Governance for Owners, Tel: + 44 20 7614 4750

Notes to Editors:

1. Governance for Owners (GO) is an independent partnership between major financial institutions, shareowners and executives dedicated to adding long-term value for clients by exercising share owners’ rights. There are two main product offerings. The GO European Focus Fund, which invests in European public companies where value can be added through making use of ownership rights. The GO Stewardship Services offers intelligent voting and engagement on quoted companies in Europe, the US, Japan, and South East Asia.