DVB Fund and Textainer team up to buy Capital Lease

In a transaction that closed on 23 July 2007, CIF 3, an investment fund advised by DVB Bank, acquired Capital Lease Limited, Hong Kong, the world´s 8th largest container leasing company, and simultaneously sold the management rights to Capital Lease´s over 0.5 million TEU container fleet to Textainer. Ian Karan, Chairman of Capital Lease stated: “Over the past eleven years we have built a world class container leasing company. I am very proud of our achievements in this regard and extend my thanks to my team, our clients and our business partners for their contributions. In this respect I would like to especially thank Mr Heinz Roth, P&R Equipment Finance Corporation, for his unstinting support from the outset. After an extensive bidding process, involving other container lessors, banks, hedge funds and equity players, the fund advised by DVB Bank emerged as the winner. A prime factor for this choice is the involvement of Textainer to manage the entire fleet. DVB Bank is a leading funding partner for the container leasing market whilst Textainer is a leading manager of container portfolios. The business that we have worked so hard to build is therefore, we believe, in safe hands. Henceforth, we will focus on actively expanding Capital Intermodal ?" our specialist container business ?" from its existing presence in Europe, USA and Australia”. Dagfinn Lunde, Member of the Board of Managing Directors of DVB Bank AG, and head of DVB´s Shipping Division, commented: “I am delighted that the combined offer of Textainer and the fund advised by DVB was finally successful in a bidding process which had attracted numerous bidders. We were able to successfully combine the high expertise of DVB in the field of container box financing with the in-depth market know how of Textainer in managing large container fleets. Our Container Business Unit, which was only founded at the end of 2003, has quickly developed into a leading international player for the provision of a full range of financial services, including investment advice, to container leasing and container shipping companies.” Eric Snellen, head of DVB’s Container Business Unit, said: “During the last three years DVB has been successful in acquiring for the investment funds it advises large container portfolios with attached management agreements. These acquisitions fit with DVB’s strategy to increase its asset financing business in the intermodal area. Winning the competitive bidding process to acquire Capital Lease proves that DVB has built up a competitive advantage in acquiring container portfolios for the funds advised by it. The Capital Lease portfolio contains high quality well maintained containers leased to world class lessees. We are also pleased to work with Textainer, as it is the largest and most experienced manager of container portfolios.” John Maccarone, President and CEO of Textainer noted that: “Capital Lease is one of the leaders in our industry, with a high quality fleet of containers. We are extremely pleased and proud to be taking over the management of such an excellent container fleet and will continue its tradition of first class service. In the past 20 years, we have either purchased, or assumed management of the container fleets of seven other lessors, now including Capital Lease. We strongly believe that more leasing industry consolidation is justified, and are actively seeking other opportunities.” Mr. Maccarone added: “Our strategy is to be the most reliable supplier to our shipping line customers of containers in high demand locations. We do this not only by having the largest lessor-operated container fleet in the world, over 2 million TEU, but also by purchasing an average of over 90,000 TEU of new containers each year, and by aggressively repositioning off-lease containers. Increasing our fleet by 33% with the acquisition of the Capital Lease fleet will help ensure that we have the containers our customers want in the locations they want them.” PricewaterhouseCoopers LLP acted as lead adviser to the seller. Allen & Overy and Kruhl Arends Hofert Bergemann acted as legal advisers to the seller and Norton Rose as legal advisers to DVB Bank. Note to Editors: Capital Lease is an industry leader in the leasing of marine containers. Founded in November 1996, it has grown to over 0.5 million TEU and operates a fleet of top quality containers with an average age of 4.8 years. Employing 71 people globally, Capital Lease has offices in Amsterdam, Hamburg, Hong Kong, Miami, and Shanghai, supported by agents in major international shipping and trading centers. www.capital-lease.com 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, and Land Transport. The Bank operates out of offices in Frankfurt/Main, Hamburg, London, New York, Rotterdam, Hong Kong, Singapore, Tokyo, Bergen/Oslo, Piraeus, and Curaçao. DVB Bank AG is listed on the Frankfurt Stock Exchange (ISIN: DE0008045501). www.dvbbank.com Textainer is a 28 year old organization and is the largest lessor of marine containers and one the two largest sellers of second hand containers in the world. With offices and depots in more than 150 locations around the globe, Textainer serves more than 300 leasing customers, which include virtually all of the world’s leading international shipping lines, and over 700 container sales customers. www.textainer.com Contacts: DVB Bank AG Eric Snellen Phone: +44 20 7618 9725 Fax: +44 20 7618 9833 eric.snellen@dvbbank.com Textainer Group John A. Maccarone Phone: +1 415 434 0551 Fax: +1 415 434 0599 jam@textainer.com Capital Lease Steve Cater c/o PricewaterhouseCoopers LLP Phone: +44 20 7804 7029 Fax: +44 20 7212 4177 stephen.cater@uk.pwc.com