Purchase of Own Securities

RNS Number:7193H
Depfa Deutsche Pfandbriefbank AG
19 February 2003


Letter to RNS

DEPFA Deutsche Pfandbriefbank AG 
EUR 140,000,000.00 Step Down-Reverse Floater Multi Callable note due 2019
ISIN: DE0002294675 

Please be informed that we have bought back EUR 20,438,000 of the a. m. Notes 
for value 24 February 2003. Below is a copy from our fiscal and paying agent 
acknowledging our buy back. 


Contact
[phone] or fax [phone]


Letter from Depfa Deutsche Pfandbriefbank AG


Letter to DEPFA Bank plc

                                    DEPFA AG

    EUR 140,000,000 Multi Callable Step-down reverse Floating Rate Notes 2019
                              ISIN:  DE0002294675

We notice that this is a listed issue on the London Stock Exchange.

As the London Stock Exchange will only accept information from an authorised 
source, please would you inform them that there has been a repurchase of 
EUR 20,438,000 for value 24 February 2003, the new outstanding on this issue is
EUR 72,947,000.

Letter from Deutsche Bank AG London



Letter to Deutsche Bank AG London 

DEPFA Deutsche Pfandbriefbank AG EUR 46,615,000 Step Down-Reverse Floater 
Multi Callable due February 2019
ISIN Code: DE0002294675 

DEPFA Deutsche Pfandbriefbank AG will be buying back 20,438,000 EUR (Price 
100%) nominal of the above issue for value 24/02/03. Please settle according to 
the following instructions.

     Settlement                          Delivery against payment

     Counterparty Euroclear A/C          98366      Morgan Stanley

     Deutsche Bank London Euroclear A/C  99609

DEPFA Deutsche Pfandbriefbank AG will pay EUR 20,438,000.00 to Deutsche Bank
London.


Letter from Depfa Deutsche Pfandbriefbank AG

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