LONDON (Standard&Poor's) Aug. 31, 2001--Standard&Poor's today affirmed its single-'A'-plus long-term and its 'A-1' short-term counterparty credit ratings on Bayerische Hypo- und Vereinsbank AG (HVB) and related entities. In addition, the triple-'A' ratings on HVB's senior secured Pfandbriefe were also affirmed. The outlook on HVB and related entities is negative. At the same time, Standard&Poor's also affirmed its ratings on Pfandbrief Bank International S.A. (PBI), Bank Austria AG (BA), and HVB Real Estate Bank AG (HVB REB; formerly known as Bayerische Handelsbank AG; see separate press releases on BA and HVB REB for these rating actions). The ratings on related entities Westfälische Hypothekenbank AG (WestHyp) and Württembergische Hypothekenbank AG (WürttHyp) are under review. The ratings
