Annual Document 2007  

Company releases during the financial year 2007 in accordance with disclosure requirements pursuant to
Section 10,  par. 1 of the German Securities Prospectus Act ("Wertpapierprospektgesetz" – WpPG)

Pursuant to Section 10,  par.1 of the German Securities Prospectus Act ("WpPG"), Aareal Bank AG as an issuer of securities is required to submit to the public a so-called "Annual Document" at least once per year.

The following record lists all information submitted to the public during the financial year 2007 or released in accordance with the disclosure requirements pursuant to Section 10,  par. 1 of the German Securities Prospectus Act. The list specifies where the respective information has been published or released to the public and where the information can be inspected. Information referred to or contained in the Annual Document might possibly be out of date.

Should the access to one of the listed documents turn out to be permanently unfeasable, e.g. no matching link or file can be found in directory due to administrative changes, the respective print document can be requested free of charge from Aareal Bank AG, Paulinenstraße 15, 65189 Wiesbaden.

Neither the Annual Document nor any information stipulated within, including any information referred to, constitute an offer to enter into a contract on the provision of advisory services or an offer to purchase securities.