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UniCredit announces the sale by HVB of the asset management subsidiary INDEXCHANGE to Barclays

UniCredit Group's company Bayerische Hypo-und Vereinsbank AG ("HVB") has agreed to sell its asset management subsidiary INDEXCHANGE Investment AG ("INDEXCHANGE") to Barclays Bank PLC ("Barclays") for a consideration of approximately €240 million.

INDEXCHANGE is a provider of exchange traded funds with assets under management of approximately €15 billion as at 2nd November 2006.

The disposal of INDEXCHANGE represents a logical step in HVB's strategic focus on domestic corporate and retail banking and investment banking and it is in line with UniCredit Group's strategy in the asset management sector.

HVB will continue to provide a number of services to INDEXCHANGE including market making, custody and depot bank services.


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