>Business development in the first nine months of 2007

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1 >Business development in the first nine months of 2007 comdirect bank Frankfurt/Main, 23 October 2007 Dr. Andre Carls, CEO Karin Katerbau, CFO

2 > Agenda comvalue Strong growth, strong result Outlook Profit target raised Notes 2

3 > comdirect growing and delivering record results comvalue successful More customers, more assets under custody Customer activity outstrips expectations Trades at high level New record result Pre-tax profit of 70.8m 3

4 > More customers, assets under custody of more than 20bn Customers ( 000) Assets under custody ( bn) Q3 Q4 Q1 Q2 Q Total customers Custody accounts Q3 Q4 Q1 Q2 Q Portfolio volume Funds volume Deposit volume 4

5 > High level of trading Orders (m) Securities savings plans ( 000) Q3 Q4 Q1 Q2 Q Placed Executed Q3 Q4 Q1 Q2 Q Securities savings plans Fund-based savings plans 5

6 > 92,000 accounts opened in Q3 Tagesgeld PLUS accounts ( 000) Current accounts ( 000) Q3 Q4 Q1 Q2 Q Q3 Q4 Q1 Q2 Q

7 > website relaunched > Enhanced customer experience Fewer clicks > Reduced complexity Optimised navigation > Increased satisfaction Positive customer feedback 7

8 > Brokerage: quality improved > FondsDiamanten offering Investment universe optimised > Certificate savings plans Extended from 50 to 100 > Order functions Next Order combination order goes live 8

9 > Banking: attractiveness enhanced > Current account bundle Opening process streamlined > Copy & paste function Online shopping simplified > Time deposit accounts Interest rates improved, top position 9

10 > Advice: accessibility increased > 30 thousand customers, 26 offices Chemnitz, Kassel and Heidelberg opened > Advisory quality Trained and certified custody account advisers > n-tv custody account check Successful format repeated 10

11 > Earnings at record level, expenses within budget Earnings and administrative expenses ( m) Net interest income after provisions ( m) Q3 Q4 Q1 Q2 Q Earnings Administrative expenses Cost/income ratio 9M % 9M % Q3 Q4 Q1 Q2 Q

12 > Pre-tax profit of 71m in 9 months Consolidated income statement (IFRS/IAS) in m Q1 Q2 Q3 9M Q4 Q1 Q2 Q3 9M Net interest income after provisions Net commission income Other income Income Personnel costs Other administrative expenses Depreciation Administrative expenses Pre-tax profit

13 > Agenda comvalue Strong growth, strong results Outlook Profit target raised Notes 13

14 > Targets still firmly in sight in 000 Custody accounts Current accounts 450 Customers >1,300 Act Act. 9M 2007 Target 2009 Act Act. 9M 2007 Target Tagesgeld PLUS accounts Advisory customers 650 Act Act. 9M 2007 Target Act Act. 9M 2007 Target 2009 Act Act. 9M 2007 Target

15 > Q4 2007: growth course continues 2007 Profit target raised: more than 80m before tax comvalue: growth budget investment of 50m 15

16 > Agenda comvalue Strong growth, strong result Outlook Profit target raised Notes 16

17 > Segment reporting by business lines (IFRS/IAS) not consolidated in m 9M 2007 Net interest income after provisions Net commission income Other income Income Personnel costs Other administrative expenses Depreciation Administrative expenses Pre-tax profit online offline

18 > Monthly figures: timely and transparent Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep ( 000) Number of customers of which: comdirect private finance customers Number of custody accounts Number of current accounts Number of TG PLUS accounts Orders placed Orders executed , , , , , , , ( bn) Assets under custody of which portfolio volume (excluding funds) of which funds volume of which deposit volume

19 > comdirect share As at: Shareholder structure (%) Price per share (Xetra/ ) Free float Commerzbank Q2 Q3 Q4 Q1 Q2 Q ISIN code: Stock exchange segment: Index: Reuters/Bloomberg code: DE Prime Standard SDAX CDBG.DE/COM GR Price: Market capitalisation: bn Outstanding shares: 141,220,815 Av. daily turnover 9M/2007 (No.) - Xetra: - Frankfurt: 205,240 32,330 19

20 > Financial calendar 2007 > 16 Jan Cheuvreux German Corporate Conference, Frankfurt/Main > 13 Feb Press/analysts conference, Frankfurt/Main > 14 Mar Annual report 2006 > 24 Apr Quarterly report > 03 May Annual general meeting > 23 May Dresdner Kleinwort German Mid & Small Cap Fin. Seminar, London > 24 Jul Half-year report > 01 Oct ESN European MidCap Conference, New York > 23 Oct Nine-month report > 14 Nov German Equity Forum, Frankfurt/Main 2008 > 23 Jan Cheuvreux German Corporate Conference, Frankfurt/Main > 13 Feb Press/analysts conference, Frankfurt/Main > 14 Mar Annual report 2007 > 22 Apr Quarterly report > 09 May Annual general meeting > 22 Jul Half-year report > 23 Oct Nine-month report 20

21 > Investor Relations For further information please contact: Thore Ludwig Tel +49 (0) 4106 / thore.ludwig@comdirect.de Tobias Vossberg Tel +49 (0) 4106 / tobias.vossberg@comdirect.de Fax +49 (0) 4106 /

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