HYPO TIROL BANK AG

B. PFANDBRIEFE IN REGISTERED FORMThe instructions given below refer to the Terms and Conditions of Pfandbriefe in Bearer Form set out inPART I (B) above. In the case of a registered Pfandbrief, the Terms and Conditions set out in Part I (B) aremodified in accordance with the instructions below, subject to all the terms of the applicable Final Terms.[§ 1 (CURRENCY, DENOMINATION, FORM, CERTAIN DEFINITIONS) to be replaced in its entirety bythe following:§ 1CURRENCY, FORM, TRANSFERS, CERTAIN DEFINITIONS(1) Currency and Aggregate Principal Amount. The Notes of this Series of registered [Mortgage Pfandbriefe(Hypothekenpfandbriefe)] [Public Sector Pfandbriefe (Öffentliche Pfandbriefe)] (the "Notes") of HYPOTIROL BANK AG (the "Issuer") are being issued in [insert Specified Currency] (the "SpecifiedCurrency") in the aggregate principal amount of [insert aggregate principal amount] (in words: [insertaggregate principal amount in words]) in a denomination of [insert Specified Denomination] (the"Specified Denomination") each.(2) Form. The Notes are being issued in registered form.(3) Global Note. The Notes are represented by one or more global notes (each, a "Global Note") whichshall be signed manually by two authorised signatories of the Issuer and authenticated by or on behalf ofthe Fiscal Agent. Definitive Notes will not be issued.(4) Transfer.(a) The rights of a Holder evidenced by any Global Note and title to such Global Note itself pass byassignment and registration in the Register. Except as ordered by a court of competent jurisdiction or asrequired by law, the Issuer, the Fiscal Agent and the Registrar shall deem and treat each registeredholder of a Global Note as the absolute holder thereof and of the rights evidenced thereby.(b) The rights of any Holder evidenced by any Global Note and title to such Global Note itself may betransferred [in case the Global Note may be transferred in whole only, insert: in whole only] [incase the Global Note may be transferred in whole or in part, insert: in whole or in part] upon thesurrender of such Global Note, together with the form of assignment endorsed on it duly completed andexecuted, at the specified office of the Registrar. In the case of a transfer of a Global Note, a newGlobal Note will be issued to the transferee. [In case the Global Note may be transferred in whole orin part, insert: In the case of a transfer of part only of a Global Note, a new Global Note in respect ofthe amount transferred will be issued to the transferee and a new Global Note in respect of the amountnot transferred will be issued to the transferor. Any transfer of part only of this Global Note is permittedonly for a minimum principal amount of [insert Specified Currency and such Minimum PrincipalAmount] or an integral multiple thereof.](c) Each new Global Note to be issued upon transfer of any Global Note will, within seven business days(being, for the purposes of this subsection, a day other than a Saturday or Sunday, on which banks areopen for business in the place of the specified office of the Registrar) of delivery of such Global Noteand the duly completed and executed form of assignment, be available for collection at the specifiedoffice of the Registrar or, at the request of the Holder making such delivery and as specified in therelevant form of assignment, be mailed at the risk of the Holder entitled to the new Global Note to suchaddress as may be specified in the form of assignment.(d) Transfers will be effected without charge by or on behalf of the Issuer or the Registrar, but only uponpayment (or the giving of such indemnity as the Issuer or the Registrar may require in respect) of anytax or other duties which may be imposed in relation to it.(e) The Holder may not request the transfer of any Global Note registered (i) during a period of 15 daysending on the due date for any payment of principal, (ii) during the period of 15 days prior to any dateon which the Notes may be redeemed at the option of the Issuer, or (iii) after the Notes have beencalled for redemption in whole or in part.(4) Certain Definitions. For purposes of these Terms and Conditions:"Holder" means any registered holder of Notes."Register" means the register to be maintained by the Registrar in relation to the Notes and any otherregistered Notes that may be issued under the Debt Issuance Programme of HYPO TIROL BANK AG.100