Our share has been listed at the Frankfurt Stock Exchange since 17 June 2002. Since 1 January 2003, it has also been included in the Prime Standard segment, which requires that we comply with strict international standards of transparency. With a stake of 37.23 %, Aareal Holding Ver- waltungsgesellschaft mbH is Aareal Bank's major shareholder. Aareal Bank Share Aareal Bank's well-balanced business model, incorporating the two columns of Structured Property Financing and Consulting/Services, has proved to be sustainable ­ particularly in a challenging market environment. However, Aareal Bank Group's sound financial position ­ and its very good results for the 2008 financial year as a whole ­ were not accurately reflected in the performance of the Aareal Bank share. As investors no longer differentiated between different banks, the Aareal Bank share price became entangled in the web of negative sector developments. Shareholder structure Free float Aareal Holding Verwaltungsgesellschaft mbH 62.77% 37.23% 8.94% Bayerische Beamten-Lebensversicherung a.G. 8.94% Schweizerische Lebensversicherungs- und Rentenanstalt 6.68% Versorgungsanstalt des Bundes und der Länder 6.06% Bankhaus Lampe KG 5.25% Deutscher Ring Gruppe 1.36% Condor Lebensversicherungs-AG 48 Aareal Bank Group ­ Annual Report 2008 | Aareal Bank Share