NOTICE N.º 0038/11
We hereby inform that, on 11th January, 2011, the following issues of warrants, were registered, issued by Commerzbank Aktiengesellshaft:
| Code | Name | Quantity |
| KEFRWP | Warrants Estruturados s/ IBEX-Call-8.600 EUR-16.02.11 | 1.000.000 |
| KEFSWP | Warrants Estruturados s/ IBEX-Call-8.800 EUR-16.02.11 | 1.000.000 |
| KF9UWP | Warrants Estruturados s/ IBEX-Call-9.000 EUR-16.02.11 | 1.000.000 |
| KF9VWP | Warrants Estruturados s/ IBEX-Call-9.200 EUR-16.02.11 | 1.000.000 |
| KF9WWP | Warrants Estruturados s/ IBEX-Put-9.600 EUR-16.02.11 | 1.000.000 |
| KF9XWP | Warrants Estruturados s/ IBEX-Put-9.800 EUR-16.02.11 | 1.000.000 |
| KF9YWP | Warrants Estruturados s/ IBEX-Put-10.000 EUR-16.02.11 | 1.000.000 |
| KF9ZWP | Warrants Estruturados s/ IBEX-Put-10.200 EUR-16.02.11 | 1.000.000 |
INTERBOLSA, 11th January, 2011