List of Shareholders
Selected participating interests of Aareal Bank AG as at 31 December 2009
The List of Shareholdings of Aareal Bank AG pursuant to Section 313 (2) of the HGB has been published in the electronic German Federal Gazette, and is available here 
(in German).
| lfd Nr. | Company name | Registered office | Interest held (% of capital) | Shareholders' equity (€ mn) | Results (€ mn) |
| 1 | Aareal Bank AG | Wiesbaden | |||
| I. Consolidated companies | |||||
| 2 | Aareal Bank Asia Limited | Singapore | 100 % | 4.2 mn S$ | 0.5 mn S$ 2) |
| 3 | Aareal Bank France S.A. | Paris | 100 % | 47.4 | 3.0 3) |
| 4 | Aareal Capital Corporation | Wilmington | 100 % | 175.5 mn USD | -11.1 mn USD |
| 5 | Aareal Estate AG | Wiesbaden | 100 % | 2.8 | 0.0 1) 5) |
| 6 | Aareal Financial Service, spol. s r.o. | Prague | 100 % | 44.3 mn CZK | 16.4 mn CZK 3) |
| 7 | Aareal First Financial Solutions AG | Wiesbaden | 100 % | 3.2 | 0.0 1) |
| 8 | Aareal Valuation GmbH | Wiesbaden | 100 % | 0.5 | 0.0 1) |
| 9 | Aareon AG | Mainz | 100 % | 60.8 | 8.0 5) |
| 10 | Deutsche Bau- und Grundstücks- Aktiengesellschaft | Berlin | 100 % | 1.8 | -2.3 |
| 11 | Deutsche Structured Finance GmbH | Frankfurt | 100 % | 4.9 | -8.4 |
| II. Associated companies accounted for at equity | |||||
| 12 | Innovative Banking Solutions AG | Wiesbaden | 49.0 % | 2.3 | 0.7 4) |
1) Controlling and profit transfer agreement
2) Preliminary figures as st 31 December 2009
3) Shareholders' equity and profit/loss as at 31 December 2008
4) Financial year ending 31 March 2009
5) Indirect shareholding