Mainz, 26 October 2007 -  Ratings agency Standard & Poor’s (S&P) has lifted the long-term rating of Westdeutsche Immobilien Bank AG (WIB) from BBB+ to A-. The rating outlook is stable. The short-term rating remains unchanged at A-2. S&P has confirmed the AAA rating of mortgage and public bonds of WIB.

The rating lift came after WIB was admitted into the reserve funds of the Rheinische Sparkassen- und Giroverband (RSGV) and the Westfälisch-Lippische Sparkassen- und Giroverband (WLSGV). Its accession means that WIB is now incorporated as an equal-ranking member directly into the joint liability scheme of WestLB AG and the savings bank associations in the NRW region of Germany.

In improving the rating S&P is also paying tribute to the successful positioning of WIB as a centre of excellence for real estate financing and mortgage bond issues in the WestLB Group.

Hubert Beckmann, Chairman of the Managing Board of WIB: "Our admittance into the reserve fund shows that WestLB AG and the savings banks in NRW, support the further development of WIB and will continue to strengthen our strategic significance and role within the group and the German savings banks’ association. In lifting the rating S&P is rewarding the progress that WIB has made and confirming once again the merits of continuing consistently down the road we have taken".