WESTLB AG

Statement of Income for the WestLB AG Banking Group for the Period January 1 - June 30, 2003

Statement of Income 01.01.2003 - 30.06.2003 6/30/03 Half of 2002 Changes in

Basis: Mark-to-Market € millions € millions € millions %

Net interest income 968.3 767.8 200.5 26.1

Net commission income 275.2 343.2 -68.0 -19.8

Net income from trading operations (MtM)

41.9 63.4 -21.5 -33.9

Personnel expenses -497.8 -599.6 101.8 -17.0

Other administrative expenses -510.3 -526.5 16.2 -3.1

Other operating income/expenses 203.1 118.2 84.9 71.8

Operating result before 480.4 166.5 313.9 >100

risk provisions/result of evaluation

Risk provisions/result of evaluation-615.2 -950.1 334.9 -35.2

Operating result after -134.8 -783.6 648.8 -82.8

risk provisions/result of evaluation

Extraordinary result -60.8 -43.9 -16.9 38.5

Net profit for the year -195.6 -827.5 631.9 -76.4

before taxes