NOTICE N.º 0302/07
We hereby inform that, for having reached the maturity on 15th March, 2007, one was cancelled, on 19 of the present month, the registry of the following issues of warrants issued by Commerzbank Aktiengesellshaft:
| Code | Name |
| KC7ZWP | Warrants s/ BCP - Call - 2,5 EUR - 15.03.2007 |
| KC81WP | Warrants s/ BCP - Call - 2,6 EUR - 15.03.2007 |
| KC83WP | Warrants s/ BCP - Put - 2,2 EUR - 15.03.2007 |
| KC8JWP | Warrants s/ EDP - Call - 3,3 EUR - 15.03.2007 |
| KC8VWP | Warrants s/ Google - Call - 420 USD - 15.03.2007 |
| KC92WP | Warrants s/ Microsoft - Call - 28 USD - 15.03.2007 |
| KC93WP | Warrants s/ Microsoft - Call - 30 USD - 15.03.2007 |
| KC9HWP | Warrants s/ Nokia - Call - 16 EUR - 15.03.2007 |
| KC9IWP | Warrants s/ Nokia - Call - 17 EUR - 15.03.2007 |
| KC9JWP | Warrants s/ Nokia - Call - 18 EUR - 15.03.2007 |
| KC9LWP | Warrants s/ Petroleo Brasileiro ADR - Call - 90 USD - 15.03.2007 |
| KC9OWP | Warrants s/ Repsol SA - Call - 22,5 EUR - 15.03.2007 |
| KC9PWP | Warrants s/ Repsol SA - Call - 24 EUR - 15.03.2007 |
| KC9SWP | Warrants s/ Siemens AG - Call - 75 EUR - 15.03.2007 |
| KC9VWP | Warrants s/ Telefonica - Call - 13,5 EUR - 15.03.2007 |
| KC9WWP | Warrants s/ Telefonica - Call - 14 EUR - 15.03.2007 |
| KCO1WP | Warrants s/ Yahoo - Call - 30 USD - 15.03.2007 |
| KCO2WP | Warrants s/ Yahoo - Call - 33 USD - 15.03.2007 |
| KCP1WP | Warrants s/EDP - Call - 3,5 EUR - 15.03.2007 |
| KCP2WP | Warrants s/EDP - call - 3,8 EUR - 15.03.2007 |
| KCP3WP | Warrants s/EDP - put - 3,40 EUR - 15.03.2007 |
| KCP4WP | Warrants s/BCP - call - 2,8 EUR - 15.03.2007 |
| KCP5WP | Warrants s/BCP - put - 2,5 EUR - 15.03.2007 |
| KCPHWP | Warrants sobre Galp Energia - Call - 6,000 EUR - 15.03.2007 |
| KCPIWP | Warrants sobre Galp Energia - Call - 6,300 EUR - 15.03.2007 |
| KCPWWP | Warrants s/ Banco Bradesco ADR - Call - 38 USD - 15.03.2007 |
| KCPXWP | Warrants s/ Banco Bradesco ADR - Call - 43 USD - 15.03.2007 |
| KCPYWP | Warrants s/ Petroleo Brasil Adr - Call - 100 USD - 15.03.2007 |
| KCPZWP | Warrants sobre Rio CVRD ADR - Call - 27 USD - 15.03.2007 |
| KCQ1WP | Warrants sobre Rio CVRD ADR - Call - 30 USD - 15.03.2007 |
| KCRSWP | Warrants s/Banco Bradesco ADR - Put - 36 USD - 15.03.2007 |
| KCRTWP | Warrants s/Banco Bradesco ADR - Put - 34 USD - 15.03.2007 |
| KCRUWP | Warrants s/Petroleo Brasileiro S.A. ADR - Put - 90 USD - 15.03.2007 |
| KCRVWP | Warrants s/Petroleo Brasileiro S.A. ADR - Put - 85 USD - 15.03.2007 |
| KCRWWP | Warrants s/Cia Vale do Rio Doce ADR - Put - 27 USD - 15.03.2007 |
| KCRXWP | Warrants s/Cia Vale do Rio Doce ADR - Put - 24 USD - 15.03.2007 |
| KCSOWP | Warrants sobre BCP - Call - 3 EUR - 15.03.2007 |
| KCSRWP | Warrants sobre EDP - Call - 4 EUR - 15.03.2007 |
| KCSUWP | Warrants sobre GALP - Call - 6.7 EUR - 15.03.2007 |
INTERBOLSA, 20th March, 2007