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Squeeze-out of the HypoVereinsbank free float shareholders registered at the Register Court of Munich

Today the squeeze-out of HypoVereinsbank's free-float shareholders which was resolved upon by the bank's shareholders meeting in June 2007 has been registered in the commercial register at the Register Court of Munich. Thereby, the HypoVereinsbank ("HVB") shares held by the free-float of approx. 4.55 % of the company's share capital have been transferred to UniCredit by act of law. Therefore HVB is now wholly owned subsidiary of UniCredit.

The registration of the squeeze-out was preceded by a final binding ruling by the Higher Regional Court of Munich dated 3 September 2008 that confirmed the view of both HVB and UniCredit that all actions lodged by minority shareholders against the validity of the squeeze-out resolution taken by the HVB shareholders' meeting are obviously unfounded.

The squeeze-out price of EUR 38.26 per HVB share - leading to a total consideration of approx. EUR 1,396 million - will be paid to the minority shareholders without undue delay following registration of the squeeze-out. Such payment, which is already fully implied in the 2008-year-end target forecast for the Core Tier 1 of 6.2 percent (Basel II), will have an impact of ca. 24 bps on the Core Tier 1 ratio.



Milan, 15 September 2008




Enquiries:

Media Relations: Tel. +39 02 88628236;
e-mail: MediaRelations@unicreditgroup.eu
Investor Relations: Tel. +39 02 88628715;
e-mail: InvestorRelations@unicreditgroup.eu