NOTICE N.º 0731/08
We hereby inform that, on 14th July, 2008, the following issues of bearer warrants, were registered, issued by Commerzbank Aktiengesellshaft:
| Code | Name | Quantity |
| KEP7WP | Warrants s/ Alcatel-Lucent - Put - 3,5 EUR - 17.12.08 | 250.000 |
| KEP8WP | Warrants s/ Allianz SE - Call - 110 EUR - 17.09.08 | 250.000 |
| KEP9WP | Warrants s/ Allianz SE - Call - 120 EUR - 17.12.08 | 250.000 |
| KCOAWP | Warrants s/ Allianz SE - Put - 100 EUR - 17.12.08 | 250.000 |
| KCOHWP | Warrants s/ Apple Inc. - Put - 160 USD - 19.12.08 | 500.000 |
| KCOIWP | Warrants s/ Apple Inc. - Call - 190 USD - 19.12.08 | 500.000 |
| KCOQWP | Warrants s/ Citigroup, Inc. - Call - 16 USD - 19.09.08 | 500.000 |
| KCO3WP | Warrants s/ Citigroup, Inc. - Call - 18 USD - 19.12.08 | 500.000 |
| KCPBWP | Warrants s/ Citigroup, Inc. - Put - 15 USD - 19.12.08 | 500.000 |
| KCPDWP | Warrants s/ Cª Vale Do Rio Doce - Call - 32 USD - 19.09.08 | 500.000 |
| KCPGWP | Warrants s/ Cª Vale Do Rio Doce - Put - 28 USD - 19.12.08 | 500.000 |
| KCPHWP | Warrants s/ Deutsche - Put - 10 EUR - 17.12.08 | 250.000 |
| KCPKWP | Warrants s/ Deutsche - Call - 12 EUR - 17.12.08 | 250.000 |
| KCPMWP | Warrants s/ Fortis - Put - 9 EUR - 17.09.08 | 250.000 |
| KCPOWP | Warrants s/ Fortis - Call - 11 EUR - 17.09.08 | 250.000 |
| KCPVWP | Warrants s/ Fortis - Call - 12 EUR - 17.09.08 | 250.000 |
| KCQBWP | Warrants s/ Google Inc - Call - 580 USD - 19.09.08 | 500.000 |
| KCQGWP | Warrants s/ Google Inc - Put - 500 USD - 19.12.08 | 500.000 |
| KCQIWP | Warrants s/ Google Inc - Call - 600 USD - 19.12.08 | 500.000 |
| KCQJWP | Warrants s/ Microsoft - Call - 26 USD - 19.09.08 | 500.000 |
| KCQNWP | Warrants s/ Microsoft - Put - 23 USD - 19.09.08 | 500.000 |
| KCQQWP | Warrants s/ Microsoft - Call - 28 USD - 19.12.08 | 500.000 |
| KCRQWP | Warrants s/ Microsoft - Put - 22 USD - 19.12.08 | 500.000 |
| KCR6WP | Warrants s/ Nokia OYJ - Call - 16 EUR - 19.09.08 | 250.000 |
| KCSRWP | Warrants s/ Nokia OYJ - Put - 14 EUR - 19.12.08 | 250.000 |
| KCSSWP | Warrants s/ Nokia OYJ - Call - 18 EUR - 19.12.08 | 250.000 |
| KCSTWP | Warrants s/ Siemens - Put - 60 EUR - 17.12.08 | 250.000 |
| KCSUWP | Warrants s/ Siemens - Call - 80 EUR - 17.12.08 | 250.000 |
| KCSWWP | Warrants s/ Société Générale - Put - 50 EUR - 17.12.08 | 250.000 |
| KCS7WP | Warrants s/ Société Générale - Call - 65 EUR - 17.12.08 | 250.000 |
| KCS9WP | Warrants s/ Yahoo! Inc. - Call - 23 USD - 19.09.08 | 500.000 |
| KCTAWP | Warrants s/ Yahoo! Inc. - Call - 27 USD - 19.09.08 | 500.000 |
| KCTBWP | Warrants s/ Yahoo! Inc. - Put - 22 USD - 19.09.08 | 500.000 |
| KCTDWP | Warrants s/ Yahoo! Inc. - Call - 28 USD - 19.12.08 | 500.000 |
| KCTEWP | Warrants s/ CAC 40 - Put - 4.000 EUR - 17.09.08 | 500.000 |
| KCTHWP | Warrants s/ CAC 40 - Call - 4.400 EUR - 17.09.08 | 500.000 |
| KCT4WP | Warrants s/ CAC 40 - Put - 4.000 EUR - 17.12.08 | 500.000 |
| KCUBWP | Warrants s/ CAC 40 - Call - 4.500 EUR - 17.12.08 | 500.000 |
| KCUCWP | Warrants s/ IBEX35 - Call - 12.000 EUR - 17.09.08 | 500.000 |
| KCUFWP | Warrants s/ IBEX35 - Put - 11.500 EUR - 17.09.08 | 500.000 |
| KCUXWP | Warrants s/ IBEX35 - Call - 12.500 EUR - 17.12.08 | 500.000 |
| KCUYWP | Warrants s/ IBEX35 - Put - 11.000 EUR - 17.12.08 | 500.000 |
| KCVHWP | Warrants s/ DAX30 - Call - 6.300 EUR - 17.09.08 | 500.000 |
| KCVJWP | Warrants s/ DAX30 - Call - 6.700 EUR - 17.09.08 | 500.000 |
| KCVKWP | Warrants s/ DAX30 - Put - 6.200 EUR - 17.09.08 | 500.000 |
| KCVMWP | Warrants s/ DAX30 - Call - 6.500 EUR - 17.12.08 | 500.000 |
| KCVPWP | Warrants s/ DAX30 - Call - 7.000 EUR - 17.12.08 | 500.000 |
| KCVQWP | Warrants s/ DAX30 - Put - 6.000 EUR - 17.12.08 | 500.000 |
| KCWFWP | Warrants s/ PSI 20 - Call - 8.750 EUR - 17.09.08 | 500.000 |
| KCWHWP | Warrants s/ PSI 20 - Call - 9.000 EUR - 17.09.08 | 500.000 |
| KCWKWP | Warrants s/ PSI 20 - Call - 9.500 EUR - 17.12.08 | 500.000 |
INTERBOLSA, 14th July, 2008