This is a very nice Winterschlacht im Osten medal + bag (Ostmedaille/Ostmedal).
With long unused ribbon.
The bag is on the reverse maker marked with Arbeitsgemeinschaft der Graveur, Gold und Silverschmiede Innungen Hannau.
As well the medal as the bag are from the same maker and have alway belonged together, the medal is maker marked “25” in the ring, this stands for “Arbeitsgemeinschaft der Hanauer Silberschmiede”, this name can also be found on the bag.
This is a very hard set to find like this!