Ernst Russ AG

Share Issue/Capital Change • Nov 12, 2007

News Details

Corporate | 12 November 2007 18:38

Successful Placement of HCI Hammonia Shipping AGl AG:

HCI Capital AG / Product Launch/Product Launch

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.

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• EUR 150 million equity capital placed with institutional investors
• First listing on Hanseatic Securities Exchange, Hamburg on November 27,
2007
• Eight container ships already in portfolio

Hamburg, November 12, 2007 – The HCI HAMMONIA SHIPPING AG stock was greeted
with great demand by institutional investors with stock totalling EUR 150
million placed, thereby exceeding the minimal volume of EUR 75 million by
far. The stock market-listed shipping company developed by HSH Nordbank AG
and the Hamburg-based issuing house HCI Capital AG was established to
provide institutional investors the opportunity to invest in the booming
container shipping market. To a large extent, the equity capital was
subscribed by retirement funds, insurance companies, foundations and banks
in Germany and Austria. The issue was monitored by HSH Nordbank, the
world's largest ship financer, and NordLB.

In Germany to date, mainly private clients have invested in closed-end
funds in the growing ship segment. HCI Capital AG is expanding its product
portfolio with a public company in the shipping sector, and offering
institutional investors a customized entrance into the container shipping
market. 'The successful placement of HCI HAMMONIA SHIPPING AG reflects the
appeal of this new package, particularly for institutional investors', said
Wolfgang Essing, Chairman of the Management Board of HCI Capital AG. Essing
went on to explain that, 'With the structure of this product, well adapted
to the capital market, institutional investors profit from its daily
liquidity, easy account booking and the tax benefits of tonnage tax. The
tonnage tax enables the shipping company to distribute return to each of
the ship fund investors practically tax-free. In turn, depending on the
legal structure of public corporations such as banking institutions and
insurance companies, the capital return tax on dividends may be offset,
making an investment in a public shipping company highly attractive for
institutional investors.' The stock will first be listed on the Hanseatic
Securities Exchange on November 27, 2007. A minimum of 500 shares in the
stock was offered to investors during the subscription period.

Portfolio of eight ships at issue date

The HCI HAMMONIA SHIPPING AG will act as the overall holding company of
several private limited ship partnerships which, in turn, invest in
oceangoing vessels. 'Contrary to the public company structures presently
listed on the stock market, the HCI HAMMONIA SHIPPING AG knows from the
outset which ships it plans to invest in. The portfolio is already equipped
with six container ships with a transport capacity of 2,500 TEU each, the
first of which is scheduled to be delivered during the final quarter of
2007. Another two container ships in the 3,100 TEU league which are already
in operation will also come into our possession in 2007,' explained Dr.
Karsten Liebing, Managing Director of Hammonia Reederei GmbH & Co. KG and
Chairman of HCI Hammonia Shipping AG. Liebing continued, 'The successful
placement of the fund puts us in the very comfortable position of being
able to buy more ships for the portfolio.'

Given the volatile charter rates and possible fluctuations of ship
deployment, all eight ships will be integrated into pools consolidating
charter income of numerous ships of the same type which are under the
management of Peter Döhle Schiffahrts-KG, thus guaranteeing high revenue
stability. Jens Burgemeister, Chairman of HCI HAMMONIA SHIPPING AG noted,
'We plan to distribute a regular dividend of about 6.5 percent to our
shareholders. Investors are highly interested in this well-calculated
investment, so that despite the current turmoil in the financial markets
placement volume totalled EUR 150 million. Discussions with institutional
investors have revealed to us a great future potential in this asset class
given a stabilisation of the financial markets.'

About HCI (as per September 30, 2007):
The HCI Group was founded in 1985 and creates closed-end funds and
structured products in shipping, real estate, private equity fund of funds
and the secondary life insurance market, as well as asset creation plans.
Since 1985, over 97,500 clients have invested EUR 5.0 billion in 457
issues, with an investment volume totalling more than EUR 12.77 billion,
making HCI one of the leading financial-services system houses in Germany.
HCI Capital AG has been listed on the stock exchange since October 2005. It
has been listed on the SDAX since December 19, 2005 and on the Hamburg
Regional Index HASPAX since September 1, 2006.

Press enquiries:
Ingo Pfeil
HCI Capital AG
Head of Public Relations
Tel. +49 40 88 88 1 236
ingo.pfeil@hci-capital.de

Investor Relations:
Dr. Olaf Streuer
HCI Capital AG
Head of Investor Relations
Tel. +49 40 88 88 1 125
olaf.streuer@hci-capital.de

12.11.2007 Financial News transmitted by DGAP

Language: English
Issuer: HCI Capital AG
Bleichenbrücke 10
20354 Hamburg
Deutschland
Phone: +49 (0)40 88881-0
Fax: +49 (0)40 88881-109
E-mail: ir@hci.de
Internet: www.hci.de
ISIN: DE000A0D9Y97
WKN: A0D9Y9
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service

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