Effective from May 1, 2008, Stefan Goebel and Norbert Schlereth have been appointed by the management board of Landwirtschaftliche Rentenbank as senior vice presidents and co-heads treasury. In this position they succeed Dr. Horst Reinhardt who became a full member of the promotional bank's management board as of October 1, 2007. In their new function they will have joint responsibility for treasury management and risk management. Additionally, Goebel will focus on investor relations and funding, Schlereth on asset business. Goebel and Schlereth previously were co-heads of funding and assets within the treasury division of Rentenbank.