Structured Property Financing Consulting/Services EuropeNorth America Aareal Bank Group ­ an Overview Aareal Bank Group, headquartered in Wiesbaden, Germany, is one of the leading international specialist banks for commercial property finance and the commercial housing sector. Aareal Bank AG's shares are listed at the Frankfurt Stock Ex- change. Led by Aareal Bank AG as its parent, the Group focuses on two key business segments: the Structured Property Financing segment finances property investments in more than 25 countries on more than three continents. The Consulting/ Services segment offers the institutional housing sector services and products for managing residential property portfolios and processing payment flows. Aareal Bank Group employs people from around 40 nations. The Group's experts maintain a presence at locations in 19 countries across Europe, North America, and Asia. Our portfolio of clients and products The Structured Property Financing segment is at the service of national and international property investors. Our clients are specialists in their own fields, and therefore hold our expertise ­ which is second to none ­ in high regard: regional ex- pertise paired with our sector-specific knowledge, plus a flexible and efficient service for financing solutions tailored to meet their requirements. As well as traditional products such as mortgage loans, we also offer our clients the entire range of modern financing instruments. Our focus is senior loans secured by first-lien mortgages, where the property used as collateral generates a stable cash flow. We assign top priority to the individual prerequisites of our clients and the special require- ments of the transaction in question. Our broad range of financing products includes financing solutions for individual commercial properties as well as portfolios comprising various types of property. 10 Aareal Bank Group ­ Annual Report 2008 | Aareal Bank Group ­ an Overview