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Hypoport AG

Hypoport processes record volume of EUR3.767 billion via its EUROPACE platform in third quarter

Berlin (euro adhoc) -

closure of its loss-making business for ABS investors announced
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
balance/companies/finances
9 October 2008 - Hypoport AG generated a new
record volume of transactions worth EUR3.767 billion in the third 
quarter of this year. This represents an increase of more than 20 per
cent compared with the same quarter of 2007. The Company processed 
EUR3.466 billion worth of home loans and EUR0.301 billion worth of 
personal loans via its EUROPACE platform.
At the same time it announced the closure of its loss-making 
'EUROPACE for ABS investors' business, which had reduced the 
Company's earnings before interest and tax (EBIT) by approximately 
EUR1 million in the first half of this year. Write-downs on software 
development and provisions set aside to cover the termination of 
existing agreements will incur one-off charges of roughly EUR3 
million for the third quarter.
The Company will continue to honour existing agreements with its ABS 
investor clients until at least the summer of 2009. This decision 
will not affect its profitable Amsterdam-based services for ABS 
issuers. At its meeting today, the supervisory board of Hypoport 
Capital Market AG appointed Thomas Kretschmar as executive director 
with sole power of attorney.
"The Hypoport Group operates highly lucrative business models. Our 
business with private clients and financial product distributors is 
profitable and, thanks to our unrivalled EUROPACE platform, we are 
bucking the market trend by generating strong growth. Given the 
far-reaching changes taking place in the market, it was therefore a 
logical move to discontinue our business with institutional ABS 
investors and focus our resources on our profitable operations", 
commented Thomas Kretschmar, co-CEO of Hypoport AG following the 
decision. "All of the business units in the Hypoport Group will 
therefore be profitable as from the fourth quarter of this year".
About Hypoport AG The Hypoport Group is an internet-based all-round 
financial services provider. Its business model consists of two 
reciprocally beneficial pillars - the sale of financial products and 
the provision of a platform for transacting financial products via 
the internet.
Hypoport operates the EUROPACE B2B financial marketplace, which is 
the largest German online platform for transacting financing 
products. A fully integrated system links more than 30 banks with 
several thousand financial advisors, thus enabling the quick and 
direct agreement of contracts. The platform's highly automated 
processes generate considerable cost benefits. Nowadays, EUROPACE 
processes some 400 financing transactions every day.
end of announcement                               euro adhoc

Further inquiry note:

Matthias H. Layher
Head of Group Communications
Telefon: +49(0)30 42086-1930
E-Mail: matthias.layher@hypoport.de

Branche: Financial & Business Services
ISIN: DE0005493365
WKN: 549336
Börsen: Börse Frankfurt / regulated dealing/prime standard

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