Landeskreditbank Baden-WÃ¼rttemberg - L-Bank

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Balance sheet as at December 31, 2004 Assets Dec. 31, 2004 Dec. 31, 2003 EUR EUR Brought forward: ...................................... 46,671,894,428.44 45,100,186,580.76 5. Shares and other non-interest-bearing securities .............. 13,498,105.66 13,498,105.66 6. Equity investments in non-affiliated companies thereof: in credit institutions EUR 976,726.00 (976,726.00) in financial services institutions EUR –.– (–.–) 170,292,358.20 173,361,827.53 7. Equity investments in affiliated companies thereof: in credit institutions EUR –.– (–.–) in financial services institutions EUR –.– (–.–) ......................................... 95,508,403.08 102,008,403.08 8. Fiduciary assets thereof: fiduciary loans EUR 405,687,774.93 (511,274,426.95) ..................... 406,289,739.56 511,876,387.93 9. Intangible assets ....................................... 699,575.00 –.– 10. Tangible assets ........................................ 115,284,810.68 122,665,210.34 11. Other assets .......................................... 63,265,898.56 60,145,306.87 12. Deferred charges and prepaid expenses ..................... 143,791,330.06 140,946,144.52 Total assets ........................................... 47,680,524,649.24 46,224,687,966.69 F-4
Equity and liabilities Dec. 31, 2004 Dec. 31, 2004 Dec. 31, 2003 EUR EUR EUR Brought forward: ...................... 45,300,567,770.73 44,466,437,613.58 9. Profit participation certificates thereof: payable in less than 2 years EUR –.– (–.–) ......................... 519,844,475.00 0.00 10. Fund for general bank risks .............. 129,000,000.00 129,000,000.00 11. Equity a) Subscribed capital .................. 250,000,000.00 250,000,000.00 b) Capital surplus .................... 950,850,789.69 950,850,789.69 c) Retained profit and reserves ca) Legal reserves ................ –.– –.– cb) Reserve for treasury stock ....... –.– –.– cc) Statutory reserves .............. –.– –.– cd) Other retained profit ........... 428,000,000.00 426,000,000.00 d) Distributable profit ................. 102,261,613.82 2,399,563.42 1,731,112,403.51 1,629,250,353.11 Total equity and liabilities .................... 47,680,524,649.24 46,224,687,966.69 1. Contingent liabilities a) Contingent liabilities relating to negotiated cleared bills of exchange .... –.– –.– b) Liabilities relating to guarantees and indemnity agreements ............... 1,619,372,726.64 1,228,502,273.82 c) Liabilities relating to securities covering third-party liabilities ................ –.– –.– 1,619,372,726.64 1,228,502,273.82 2. Other obligations a) Repurchase obligations from the sale of securities with put options ........... –.– –.– b) Placement and underwriting obligations ........................ –.– –.– c) Irrevocable credit commitments ....... 1,414,505,888.09 1,359,288,687.00 1,414,505,888.09 1,359,288,687.00 F-5
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INTERNATIONAL PROSPECTUS SUPPLEMENT
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ISSUER Landeskreditbank Baden-Würt
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TABLE OF CONTENTS Use of Proceeds .
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EXCHANGE RATE INFORMATION The follo
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Maturity, Repurchase Maturity. The
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the rules of such stock exchange pe
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THE CLEARING SYSTEMS DTC DTC is a l
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Cross-market transfers between pers
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For the purposes of this provision,
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These activities by the managers or
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You should rely only on the informa
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PROSPECTUS SUMMARY The following su
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APPLICATION OF PROCEEDS As may be m
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(4) Loans to customers (i.e., non-c
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transferred to independent subsidia
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Our housing-related activities are
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(1) Holdings in companies for strat
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Loan Portfolio Risks We maintain a
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securities portfolio. In accordance
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The following table shows our borro
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authorized limits. A daily risk and
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MANAGEMENT INFORMATION Introduction
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credit institutions increased by 10
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To control the risks of unhedged po
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RECENT DEVELOPMENTS Development of
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MANAGEMENT Board of Management Our
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Wirtsch.-Ing. Bernd Bechtold Presid
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REGULATION AND SUPERVISION OF L-BAN
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non-banking corporations if the use
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Covering Market Risk Positions Mark
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ank, and the aggregate nominal valu
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may at any time change the reserve
Page 65: The Entschädigungseinrichtung GmbH
Page 68 and 69: ECONOMY General Germany The economy
Page 70 and 71: Industrial Structure General Positi
Page 72 and 73: The following table shows the amoun
Page 74 and 75: The Euro-zone follows a mutual mone
Page 76 and 77: Revenue Equalization While the Germ
Page 78 and 79: For more detailed information regar
Page 80 and 81: Outstanding Principal Maturity Amou
Page 82 and 83: DESCRIPTION OF THE DEBT SECURITIES
Page 84 and 85: (iv) a waiver by the holders of the
Page 86 and 87: CURRENCY CONVERSION RATES The follo
Page 88 and 89: TAXATION UNITED STATES FEDERAL INCO
Page 90 and 91: number of complete years to maturit
Page 92 and 93: will equal such U.S. Holder’s ini
Page 94 and 95: using the constant yield method des
Page 96 and 97: We have included the federal income
Page 98 and 99: Capital gains resulting from the di
Page 100 and 101: SUMMARY OF CERTAIN DIFFERENCES BETW
Page 102 and 103: The credit risk of the loan and sec
Page 104 and 105: Under U.S. GAAP, repurchased debt s
Page 106 and 107: LIMITATIONS ON ACTIONS AGAINST THE
Page 108 and 109: GLOSSARY This glossary describes ce
Page 110 and 111: Administrative loans, which are loa
Page 112 and 113: Depreciation and accumulated amorti
Page 114 and 115: Landeskreditbank Baden-Württemberg
Page 118 and 119: Statement of income for the period
Page 120 and 121: Notes to the annual financial state
Page 132 and 133: Authorities of Landeskreditbank Bad
Page 134 and 135: Proposal of the Board of Management
Page 136 and 137: FINANCIAL STATEMENTS OF L-BANK AS O
Page 140 and 141: Landeskreditbank Baden - Württembe
Page 154 and 155: Directorships held by members of th
Page 156 and 157: State government deputy representat
Page 158 and 159: Independent Auditors’ opinion We
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Notes to the annual financial state
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Directorships held by members of th
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Authorities of Landeskreditbank Bad
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Proposal of the Board of Management
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Debt of L-Bank at December 31, 2004
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Debt Securities
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Landeskreditbank Baden-WÃ¼rttemberg - L-Bank

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