GFKL takes over Italian NPL specialist

- Acquisition of Locam S.p.A. and takeover of NPL portfolios
- Purchase and processing of both secured and unsecured NPL planned

GFKL Financial Services AG is taking over 100 percent of shares in
the Italian company Locam S.p.A., which specializes in processing
non-performing loans (NPL). The Rome-based company previously
belonged to the American B.C. Recovery Partners LLP. Parallel to
this, GFKL is also acquiring all NPL packages originally purchased by
the shareholder in Italy since 2003.

Locam commenced operations on the Italian NPL market in April 2003.
To date, its core business has been the processing of unsecured
non-performing consumer loans. GFKL intends to expand Locam's
business model to include secured property loans, and to acquire NPL
packages in Italy as both an investor and a co-investor. Moreover,
plans are in place for the future expansion of Locam's activities as
a servicer for third parties as well.

Dr. Peter Jänsch, Chairman of the Executive Board of GFKL Financial
Services AG, made the following statement about the takeover: "After
Spain and Portugal, Italy is the third foreign NPL market on which
the GFKL Group is active as an NPL specialist. In our view, the
potential of the Italian market offers us attractive opportunities
for growth. GFKL and Locam complement each other perfectly: GFKL with
its 10 years of experience in the assessment, financing, takeover and
processing of non-performing loans and its extensive expertise in the
IT-supported organization of all corresponding work flows; Locam with
its knowledge of the local Italian market gained over years. After
entry, we want to continue developing our market presence by
expanding the business model to include secured loans and servicing
on behalf of third parties."

About GFKL Financial Services AG
GFKL is a fast-growing financial services provider focusing on
leasing and collection services. The software and systems areas are
the technological complements to this spectrum of services. GFKL is
thus able to assist clients in financing investments, organizing
processes and safeguarding liquidity during every phase of the
business process. During the business year 2007, GFKL generated
consolidated revenues of EUR 1.2 billion with around 2,600 employees.
As of the balance sheet date 2007, the volume of NPL serviced in the
GFKL Group amounted to EUR 11.3 billion. The rating agency Standard &
Poor's assesses GFKL Financial Services AG's expertise in the
management and processing of non-performing receivables as "Strong,
Outlook Stable", the highest possible rating for servicers. This
rating makes GFKL one of the three best-rated companies in Europe.

Press officer:
Katrin Schwarz
Head of Corporate Communications
and Investor Relations
Tel.: +49 (0)201/102-1192
Fax: +49 (0)201/102-1102-462
E-mail: katrin.schwarz@gfkl.com
Internet: www.gfkl.com

Annual Report 2007 available under:
http://www.gfkl.com/en/gb/2007/