Commerzbank Securities Strengthens Commitment to Alternative Investment Strategies.

Business Editors

NEW YORK--(BUSINESS WIRE)--Dec. 6, 2001

Commerzbank Securities announced today the strengthening of its commitment to the Alternative Investment Strategies (AIS) asset class. All AIS activities will now be fully integrated into the 550-person, multi-asset class Derivative Product headed by Mark Richardson, Global Head of Derivatives. Ricardo Pascoe, managing director and executive general manager, Americas has assumed direct responsibility for the firm's global AIS activities which will now benefit from the support of a global platform.

Ricardo Pascoe commented, "We have established a good track record in our alternative investment portfolios and will now focus on leveraging our global distribution. We will aggressively grow the assets under management through the offering of new and innovative products that will be tailored to meet the specific requirements of our client base."

Mark Richardson added, "The integration of the AIS activities into the Derivative Product will enable us to provide a much stronger platform from which to substantially accelerate the growth of this business. We look forward to having the opportunity to work with our established in-house asset management brands ADIG, Jupiter and Montgomery. In addition we must continue to increase the accessibility of these products to retail customers via our Private Clients division."

Kevin Ferro, formerly head of Commerzbank's New York-based Alternative Investment Strategies unit, and five members of his team have left the firm.

Ends

Notes to editors:

Commerzbank Securities is the fully integrated investment banking division of Commerzbank AG, one of Europe's leading banks with a strong position at the heart of the new Euro-zone. It utilizes access to Commerzbank's $433bn balance sheet (12/31/00) and, A+/A1/A+ credit ratings from S&P, Moody's and Fitch IBCA. In the United States, Commerzbank Securities transacts business through Commerzbank Capital Markets Corporation, a wholly owned registered broker-dealer of Commerzbank AG. Commerzbank Capital Markets Corporation is a member of AMEX, NYSE, NASD and SIPC.