In its meeting on December 11, 2007, the BHW Bausparkasse AG Supervisory Board appointed Hans-Joachim Gasda (58), currently the acting Chairman of the Management Board, to be the new Chairman of the Management Board. Starting January 1, 2008, Gasda will succeed Dr. Michael Meyer, who will now be able to completely focus on his functions in the Deutsche Postbank AG Management Board. The Supervisory Board extends its thanks to Dr. Meyer for the contributions he has made and looks forward to the continued cooperation with him as a member of the Postbank Management Board.

Gasda is originally from Reher in the Hamelin-Pyrmont district of Germany. He began with the company in 1966 as a trainee and has held several posts in the Board of Management since 1999. In his new function he will assume responsibility for Strategy and other areas. Gasda is considered to be a recognized expert on home savings and played a decisive role in setting up the Kreditfabrik (Credit Factory) as well as the integration of BHW Bausparkasse in Postbank as its home savings finance activities.

General Managers Dietmar König (41) and Dieter Pfeiffenberger (50) are new additions to corporate management. König has served in various functions in the BHW Group since 1997 and will be responsible as General Manager for the Credit Services area starting January 1, 2008. He will also be responsible for the Credit Center in this function. Starting January 1, 2008, Pfeiffenberger will be responsible for product development for home savings and for mortgage lending as head of the Product Management area. His Postbank responsibilities also include the area of Third-Party Sales under the DSL Bank brand.

Dr. Ralf Kauther, Management Board member responsible for Finance, Horst Küpker, responsible for the area of Asset/Liability Management, Dr. Joachim Klare Management Board member responsible for the area of Cooperation Partner Management and Hans-Joachim Neumann, responsible for the area of Human Resources as General Manager, will continue to remain on the BHW Bausparkasse AG Management Board.