FRANKFURT (Standard&Poor's) Nov. 30, 2005--Standard&Poor's Ratings Services said today that the 'A-1+' short-term ratings on the grandfathered short-term obligations of Landesbank Hessen-Thueringen Girozentrale (Helaba; A/Stable/A-1) and its subsidiary Helaba Dublin Landesbank Hessen-Thueringen International (Helaba Dublin; A/Stable/A-1) are not affected by the downgrade of Helaba's grandfathered long-term unsecured obligations to 'AA' from 'AA+', which followed the downgrade of the State of Hesse (see related research update entitled "Helaba Ratings On Grandfathered Obligations Cut To 'AA' After State Downgrade", published yesterday on RatingsDirect, Standard&Poor's Web-based credit analysis system). Standard&Poor's has not assigned ratings to any individual outstanding grandfathered short-term obligation of Helaba or Helaba Dublin. Nevertheless, grandfathered short-term unsecured obligations might still be outstanding
