OVERVIEW UniCredit Bank AG issues two different covered bond types, public sector covered bonds (Öffentliche Pfandbriefe) backed by public sector assets and mortgage covered bonds (Hypothekenpfandbriefe) backed by mortgage assets. The mortgage covered bonds issued by Unicredit are not rated by Standard&Poor's. Due to a systems error, we assigned a rating to Unicredit's €50 million 1.83% Hypothekenpfandbriefe series 1493 due Jan. 11, 2012 (series 1493 bonds). We have now withdrawn the rating on the series 1493 bonds. This withdrawal has no effect on our outstanding ratings on UniCredit Bank's public sector covered bonds. FRANKFURT (Standard&Poor's) March 9, 2010--Standard&Poor's Ratings Services today withdrew its 'AAA' credit rating on UniCredit Bank AG's €50 million 1.83% mortgage
