Cancellation of the registry of KCWBWP

NOTICE N.º 0039/06

We hereby inform that, as a result of the existence of the conditions for the anticipated loss of the rights inherent to "W. ESTRUTURADOS S/ DAX - PUT - 5550 EUR - 22.02.2006", issued by Commerzbank Aktiengesellshaft, and registered under the code KCWBWP, one has cancelled the registry on 12^th January, 2006.

INTERBOLSA, 13^th January, 2006