Mainz, 5 September 2005 - Hubert Beckmann, 47, has been appointed the new Chairman of the Management Board at Westdeutsche ImmobilienBank (WIB) with effect from 1 October of this year. Dieter Groh, 51, who had been acting Chairman of the Board since November 2004, is leaving the company on 30 September of this year by amicable mutual agreement. Dr. Norbert Emmerich, Chairman of WIB’s Administrative Board, emphasised: "I would like to express my gratitude to Dieter Groh for successful teamwork, particularly during a difficult phase in WIB’s repositioning."

Dieter Groh had been on WIB's Management Board since January 2001. The projects implemented within his area of responsibility included reorientation of the business field Domestic Investors, reorganisation and streamlining of credit processing and marketing, as well as establishment of the business unit Real Estate InvestmentBanking. He also expanded WIB's private client business and implemented 'Kreditfabrik' [Credit Factory]. In November 2004, Dieter Groh became provisional Chairman of WIB's Board.

Hubert Beckmann will chair the Board jointly with Klaus Neuhaus, 53, who was appointed Board member in November 2004. From 1996 to 1998, Hubert Beckmann was a member of the Management Board at Westdeutsche Landesbank (Ireland) plc and, most recently, member of the Management Board of Ostsächsische Sparkasse Dresden since 1998.

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