• We herewith inform you that we, Egerton Capital Limited Partnership, 2 George Yard, Lombard Street, London EC3V 9DH, United Kingdom, have as of 11 august 2004 decreased our share of voting rights in Hypo Real Estate Holding AG, Unsöldstrasse 2, 80538 München, below the threshold of 5 % Henceforth, our share of voting rights amounts to 4.97 %. These are to be ascribed to us pursuant to sec. 22 paragraph 1, sentence 1, number 6 WpHG.
• We herewith inform you that we, Egerton Capital Limited, 2 George Yard, Lombard Street, London EC3V 9DH, United Kingdom, General Partner of Egerton Capital Limited Partnership, 2 George Yard, Lombard Street, London EC3V 9DH, United Kingdom, have as of 11 august 2004 decreased our share of voting rights in Hypo Real Estate Holding AG, Unsöldstrasse 2, 80538 München, below the threshold of
   5 % Henceforth, our share of voting rights amounts to 4.97 %. These are to be ascribed to us pursuant to sec. 22 paragraph 1, sentence 1, number 6 WpHG.
• We herewith inform you that I, John C. Armitage, c/o 2 George Yard, Lombard Street, London EC3V 9DH, United Kingdom, have as of 11 august 2004 decreased my share of voting rights in Hypo Real Estate Holding AG, Unsöldstrasse 2, 80538 München, below the threshold of 5 % Henceforth, my share of voting rights amounts to 4.97 %. These are to be ascribed to us pursuant to sec. 22 paragraph 1, sentence 1, number 6 WpHG and sec. 22 paragraph 1, sentence 2 WpHG.
• We herewith inform you that I, William G. Bollinger, c/o 2 George Yard, Lombard Street, London EC3V 9DH, United Kingdom, have as of 11 august 2004 decreased my share of voting rights in Hypo Real Estate Holding AG, Unsöldstrasse 2, 80538 München, below the threshold of 5 % Henceforth, my share of voting rights amounts to 4.97 %. These are to be ascribed to us pursuant to sec. 22 paragraph 1, sentence 1, number 6 WpHG and sec. 22 paragraph 1, sentence 2 WpHG.
   

Hypo Real Estate Holding AG

Executive Board

________________________________________________________________

Comment

Hypo Real Estate Holding Aktiengesellschaft explains that these notifications were made for the same share of voting rights.

Hypo Real Estate Holding AG

Executive Board

Erläuterung

Die Hypo Real Estate Holding Aktiengesellschaft weist darauf hin, dass es sich hier um jeweils dieselben Stimmrechte handelt, also insgesamt nur einmal die Schwelle von 5 % der Stimmrechte unterschritten wurde.

Hypo Real Estate Holding AG

Vorstand