Frankfurt am Main (ots) - KfW IPEX-Bank GmbH is financing the
procurement of 38 Diesel Multiple Units for the Upper Franconian
diesel network with up to EUR 45 million. The financing arrangement
structured by KfW IPEX-Bank will also be supplemented with a further
EUR 33 million, provided in equal shares by Norddeutsche Landesbank -
Girozentrale (Nord/LB) and LfA Förderbank Bayern. Hannover Mobilien
Leasing GmbH will act as the leasing company. Part of the financing
will be refinanced through the KfW "Municipal Investment" programme.
The relevant agreements were signed in Hamburg today.

The borrower is Benex GmbH, in which Hamburger Hochbahn AG has
bundled its Germany-wide rail transport operations outside of
Hamburg. KfW IPEX-Bank already maintains longstanding business
relations with both Hochbahn and Benex.

The "Regio Shuttle RS1" type diesel railcars will be manufactured
in Berlin by the German subsidiary of the Swiss manufacturer Stadler
Rail AG, a company steeped in tradition. These are standard vehicles
that are frequently found on the market.

A volume of traffic of around 4.5 million train kilometres and
around 4 million passengers a year make the Upper Franconian diesel
network one of the largest rail networks in Germany. It links the
towns of Bayreuth, Weiden, Kulmbach, Hof and Bamberg, among others.

In October 2008 Benex was awarded the contract to operate the
twelve routes of this Upper Franconian diesel network for a term of
12.5 years, starting in June 2011. Taking over the operation of this
network will enable Benex to further develop its position in Bavaria.
Together with the Regensburg network including the Danube Valley
Railway, which will be commissioned in December 2010, considerable
synergy effects are to be anticipated.

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and
corporate financing as well as trade and export financing
domestically and abroad. Worldwide it conducts all market activities
of KfW Bankengruppe that are carried out on commercial terms. KfW
IPEX-Bank GmbH has been operating as a legally independent subsidiary
since 1 January 2008 and contributes significantly to the promotional
mission of KfW Bankengruppe. It has approx. 490 employees (as of
October 2009) and is represented in the key economic and financial
centres throughout the globe.

Originaltext: KfW-IPEX-Bank
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