NOTICE N.º 1197/08
We hereby inform that, on 11th November, 2008, the following issues of warrants, were registered, issued by Commerzbank Aktiengesellshaft:
| Code | Name | Quantity |
| KEZ1WP | Warrants s/ Oil Brent Crude Future March 09 - Put - 70 USD - 09.02.09 | 500.000 |
| KEZ2WP | Warrants s/ Oil Brent Crude Future March 09 - Put - 50 USD - 09.02.09 | 500.000 |
| KEZ3WP | Warrants s/ Oil Brent Crude Future March 09 - Call - 60 USD - 09.02.09 | 500.000 |
| KEZ4WP | Warrants s/ Oil Brent Crude Future March 09 - Call - 80 USD - 09.02.09 | 500.000 |
| KEZ5WP | Warrants s/ Oil Brent Crude Future June 09 - Call - 70 USD - 11.05.09 | 500.000 |
| KEZ6WP | Warrants s/ Oil Brent Crude Future June 09 - Call - 100 USD - 11.05.09 | 500.000 |
| KEZ7WP | Warrants s/ Oil Brent Crude Future June 09 - Put - 60 USD - 11.05.09 | 500.000 |
| KEZ8WP | Warrants s/ Oil Brent Crude Future June 09 - Put - 40 USD - 11.05.09 | 500.000 |
| KEZ9WP | Warrants s/ Oil Brent Crude Future September 09 - Call - 100 USD - 11.08.09 | 500.000 |
| KE1AWP | Warrants s/ Oil Brent Crude Future September 09 - Put - 60 USD - 11.08.09 | 500.000 |
| KE1BWP | Warrants s/ Amazon. com, Inc. - Call - 50 USD - 20.03.09 | 500.000 |
| KE1CWP | Warrants s/ Amazon. com, Inc. - Call - 70 USD - 19.06.09 | 500.000 |
| KE1DWP | Warrants s/ Amazon. com, Inc. - Put - 50 USD - 20.03.09 | 500.000 |
| KE1EWP | Warrants s/ Amazon. com, Inc. - Put - 40 USD - 20.03.09 | 500.000 |
| KE1FWP | Warrants s/ Apple Inc. - Call - 120 USD - 19.12.08 | 500.000 |
| KE1GWP | Warrants s/ Apple Inc. - Put - 80 USD - 19.12.08 | 500.000 |
| KE1HWP | Warrants s/ Apple Inc. - Call - 100 USD - 20.03.09 | 500.000 |
| KE1IWP | Warrants s/ Apple Inc. - Call - 140 USD - 20.03.09 | 500.000 |
| KE1JWP | Warrants s/ Apple Inc. - Put - 90 USD - 20.03.09 | 500.000 |
| KE1KWP | Warrants s/ Apple Inc. - Call - 120 USD - 19.06.09 | 500.000 |
| KE1LWP | Warrants s/ Apple Inc. - Put - 100 USD - 20.03.09 | 500.000 |
| KE1MWP | Warrants s/ Citigroup, Inc. - Call - 15 USD - 20.03.09 | 500.000 |
| KE1NWP | Warrants s/ Citigroup, Inc. - Call - 10 USD - 19.06.09 | 500.000 |
| KE1OWP | Warrants s/ Google Inc - Call - 400 USD - 19.12.08 | 500.000 |
| KE1PWP | Warrants s/ Google Inc - Call - 350 USD - 20.03.09 | 500.000 |
| KE1QWP | Warrants s/ Google Inc - Call - 450 USD - 20.03.09 | 500.000 |
| KE1RWP | Warrants s/ Google Inc - Call - 350 USD - 19.06.09 | 500.000 |
| KE1SWP | Warrants s/ Google Inc - Put - 300 USD - 19.12.08 | 500.000 |
| KE1TWP | Warrants s/ Google Inc - Put - 350 USD - 20.03.09 | 500.000 |
| KE1UWP | Warrants s/ Microsoft, Corp. - Call - 25 USD - 19.12.08 | 500.000 |
| KE1VWP | Warrants s/ Microsoft, Corp. - Call - 22 USD - 20.03.09 | 500.000 |
| KE1WWP | Warrants s/ Microsoft, Corp. - Put - 20 USD - 20.03.09 | 500.000 |
| KE1XWP | Warrants s/ Nokia OYJ - Call - 15 EUR - 19.12.08 | 250.000 |
| KE1YWP | Warrants s/ Nokia OYJ - Call - 12 EUR - 20.03.09 | 250.000 |
| KE1ZWP | Warrants s/ Nokia OYJ - Put - 10 EUR - 19.12.08 | 250.000 |
| KE11WP | Warrants s/ Nokia OYJ - Put - 12 EUR - 20.03.09 | 250.000 |
| KE12WP | Warrants s/ Yahoo! Inc. - Call - 15 USD - 19.12.08 | 500.000 |
| KE13WP | Warrants s/ Yahoo! Inc. - Call - 12 USD - 20.03.09 | 500.000 |
| KE14WP | Warrants s/ Yahoo! Inc. - Call - 17 USD - 20.03.09 | 500.000 |
| KE15WP | Warrants s/ Yahoo! Inc. - Put - 10 USD - 20.03.09 | 500.000 |
| KE16WP | Warrants s/ Allianz SE - Call - 70 EUR - 17.12.08 | 250.000 |
| KE17WP | Warrants s/ Allianz SE - Call - 80 EUR - 18.03.09 | 250.000 |
| KE18WP | Warrants s/ Companhia Vale do Rio Doce - Call - 12 USD - 19.12.08 | 500.000 |
| KE19WP | Warrants s/ Companhia Vale do Rio Doce - Put - 10 USD - 19.12.08 | 500.000 |
| KCQOWP | Warrants s/ Companhia Vale do Rio Doce - Call - 15 USD - 20.03.09 | 500.000 |
| KD69WP | Warrants s/ Companhia Vale do Rio Doce - Call - 20 USD - 20.03.09 | 500.000 |
| KD7AWP | Warrants s/ Petroleo Brasil - Call - 30 USD - 19.12.08 | 500.000 |
| KD7BWP | Warrants s/ Petroleo Brasil - Call - 25 USD - 20.03.09 | 500.000 |
| KD7DWP | Warrants s/ Petroleo Brasil - Put - 25 USD - 20.03.09 | 500.000 |
| KD7EWP | Warrants s/ Societe Generale S.A. - Call - 50 EUR - 18.03.09 | 250.000 |
| KD7QWP | Warrants s/ EUR/USD - Call - 1,35 USD - 03.12.08 | 500.000 |
| KEOGWP | Warrants s/ EUR/USD - Call - 1,3 USD - 04.03.09 | 500.000 |
| KEOPWP | Warrants s/ EUR/USD - Put - 1,1 USD - 03.12.08 | 500.000 |
| KEPZWP | Warrants s/ EUR/USD - Put - 1,2 USD - 04.03.09 | 500.000 |
INTERBOLSA, 11th November, 2008