Adam Friedman Associates Announces Proposal by a Consortium to Acquire 100% of the Common Equity of DEPFA Bank PLC

On February 10, 2012, an ad hoc committee of holders of listed securities issued
by DEPFA who currently manage over US$40 billion of assets globally (the
"Consortium") approached Hypo Real Estate Holding AG ("HRE") with an indicative
proposal to acquire 100% of the common equity of DEPFA at a price of 0.2 to 0.4
times the current book value of common equity of DEPFA.


On March 13, 2012, HRE informed the Consortium of the German Financial Markets
Stabilization Agency's (FMSA) requirement to properly evaluate the Consortium's
interest against all other potential options, and of its request to postpone
further activities with regard to the Consortium's proposed purchase of DEPFA,
including its request for due diligence.


The Consortium looks forward to hearing from HRE when it is ready to engage with
regard to these matters.


Moelis & Company is acting as financial advisor to the members of the
Consortium.

Stans Energy (TSXV:HRE)
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