Notification concerning transactions by persons performing managerial
responsibilities pursuant to section 15a of the WpHG

Directors' Dealings notification transmitted by DGAP - a company of EquityStory AG.
The person with duty of notification is solely responsible for the content of this announcement.

Details of the person subject to the disclosure requirement
Last name: Pohle
First name: Professor Dr. Klaus
Company: Hypo Real Estate Holding AG

Position: Member of an administrative or supervisory body

Information about the transaction with duty of notification

Description of the financial instrument: Discount Certificate on Hypo Real Estate Holding AG bearer shares
ISIN/WKN of the financial instrument: CB6UMF
Type of transaction: Buy
Date: 16.01.2008
Price: 20.00
Currency: EUR
No. of items: 2500
Total amount traded: 50000.00
Place: EUWAX Stuttgart

Description of the derivative

Description of the underlying instrument: Shares of Hypo Real Estate Holding AG
Underlying (WKN/ISIN): DE0008027707
Price multiplier: 
Strike price: 22.20
Currency: EUR
Expiration date: 19.03.2009

Information about the company with duty of publication

Issuer: Hypo Real Estate Holding AG
Unsöldstraße 2
80538 München
ISIN: DE0008027707
WKN: 802770

End of Directors' Dealings Notification (c) DGAP 17.01.2008 

Financial News transmitted by DGAP
ID 4951