February 10, 2010 11:15 AM Eastern Time

FRN Variable Rate Fix

Re:	BAYERISCHE HYPOTHEKEN- UND WECHSEL-BANK AG
	ITL 1.2E+11
	MATURING: 11-Feb-2013
	ISIN: XS0083724541

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
11-Feb-2010 TO 11-Feb-2011 HAS BEEN FIXED AT 12.600000 PCT

DAY BASIS: 30/360

INTEREST PAYABLE VALUE 11-Feb-2011 WILL AMOUNT TO:
ITL 630000 PER ITL 5000000 DENOMINATION