Deutsche Pfandbriefbank AG: Deutsche Pfandbriefbank AG provisions for Heta debt securities covered by a letter of indemnity issued by the Austrian federal state of Carinthia in the 2014 financial statements, taking a charge against income of EUR 120 mil

Deutsche Pfandbriefbank AG  / Key word(s): Final Results06.03.2015 20:13Dissemination of an Ad hoc announcement according to § 15 WpHG, transmittedby DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------Deutsche Pfandbriefbank AG provisions for Heta debt securities covered by aletter of indemnity issued by the Austrian federal state of Carinthia inthe 2014 financial statements, taking a charge against income of EUR 120millionMunich, 6 March 2015 - Pursuant to a Management Board resolution taken on 6March 2015, Deutsche Pfandbriefbank AG (pbb) has provisioned itsreceivables portfolio against Heta Asset Resolution AG (Heta), which has anominal amount of EUR 395 million. The Bank's decision was taken inresponse to recent moves by the Austrian financial markets supervisoryauthority (FMA), and the Austrian federal government. On 1 March 2015, FMAissued a notice by which FMA deferred the maturity of debt securities(including coupon payments) issued by Heta until 31 May 2016. Heta is awind-down entity owned by the Republic of Austria. pbb's receivablesagainst Heta are covered by a letter of indemnity issued by the Austrianfederal state of Carinthia.The provision has burdened income by EUR 120 million. Preliminary pre-taxprofit for 2014 - a financial year characterised by strong new business anda marked improvement in operating profitability - would have amounted toEUR 174 million. Due to the extraordinary burden, pre-tax profit (inaccordance with IFRS) for 2014 is expected to decline to approximately EUR54 million.Contact:Reiner Barthuber +49 (0) 89 2880 28 20106.03.2015 The DGAP Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------------------------------- Language:     EnglishCompany:      Deutsche Pfandbriefbank AG              Freisinger Strasse 5              85716 Unterschleissheim              GermanyPhone:        +49 (0) 89 2880 28 201Fax:          +49 (0) 89 2880 22 28 201E-mail:       info@pfandbriefbank.comInternet:     www.pfandbriefbank.comISIN:         DE0008053331, Eine vollständige Übersicht der Eigenemissionen              der Deutsche, Pfandbriefbank AG (ISIN, Börse, Segment) finden              Sie unter,              www.pfandbriefbank.com/investor-relations/pflichtvero              effentlichungen/ad-hoc-mitteilungen.htmlWKN:          805333, Eine vollständige Übersicht der Eigenemissionen der Deutsche, Pfandbriefbank AG (ISIN, Börse, Segment) finden Sie unter, www.pfandbriefbank.com/investor-relations/pflichtveroeffentlichungen/ad-hoc-mitteilungen.htmlListed:       Regulated Market in Frankfurt (Corporate Bonds), Munich,              Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf,              Hamburg, Hanover; London, Mailand, Paris, Luxemburg, SIX End of Announcement                             DGAP News-Service ---------------------------------------------------------------------------