DVB Bank AG, the Frankfurt-based bank, which specialises in transport finance, today announces that Steve Bridgland will join DVB in New York as a Senior Vice President. Steve will work alongside recently appointed Stephan Sayre, the new head of the Deucalion Fund, with effect from September 5th 2006.

The Deucalion Funds invest equity in aircraft assets, airlines and aviation related interests and take participations in high yielding loans/bonds/asset backed securities and mezzanine financings. Deucalion is structured as an investment company with a team of advisors analysing opportunities in the aviation industry and managing investments made on its behalf. Deucalion is an integral part of the DVB Aviation business model and complements its advisory, arranging and lending businesses. The funds play an important role in supporting DVB's airline clients through the provision of equity solutions in their aircraft acquisition and divestment strategies.

Bertrand Grabowski, Member of the Board of Managing Directors of DVB Bank AG, said: "I am delighted that Steve is joining our Aviation team of experts. His origination, structuring and distribution experience in aviation finance combined with his knowledge of the rapidly increasing non-bank US investor base, mean that Steve will be a valuable addition to Stephan's team. The whole team at Deucalion is really looking forward to seeing him come on board, and helping us develop new investor relationships and joint ventures. We will continue, within DVB Aviation to build our "One-Stop-Shop" concept for our airline, lessor and investor clients and will take more initiatives in the next coming months to strengthen our franchise."

Steve joins DVB from RBC Capital Markets in New York where he held the post of Director, Global Structured Finance, Transportation. With over fifteen years of experience in innovative asset financing, infrastructure finance and public private partnerships, at RBC he was primarily responsible for the development of aviation business in the High Yield Sales & Trading group. Prior to joining RBC Capital Markets in 2000, he was an Associate Director in the Global Transportation Group at Greenwich NatWest and specifically responsible for the development of the firm's global investment banking business to that sector. He has been responsible for and involved in a very diverse range of equity, debt capital markets, advisory, asset backed and project, acquisition and structured financing assignments throughout the world.

Note to Editors:
DVB Bank AG, based in Frankfurt/Main, is an international advisory bank and finance house that specialises in the global transport market. DVB offers integrated financing solutions and advisory services in respect of Shipping, Aviation, Land Transport, and Transport Infrastructure. The Bank operates out of offices in Frankfurt/Main, Hamburg, London, New York, Rotterdam, Hong Kong, Singapore, Tokyo, Bergen, Piraeus, and Curaçao. DVB Bank AG is listed on the Frankfurt Stock Exchange (ISIN: DE 0008045501).

Contact:
Prof. Dr. Borislav Bjelicic, Phone +49 69 9750-4390, Fax +49 69 9750-4333, DVB Bank Aktiengesellschaft, Corporate Communications, Friedrich-Ebert-Anlage 2-14, 60325 Frankfurt/Main, Germany, borislav.bjelicic@dvbbank.com, www.dvbbank.com