At the Annual General Meeting on May 29, 2008, the shareholders again authorized us to re-purchase our own shares in a volume equivalent to up to 10 % of the share capital. As a result, this authorization replaced the one from 2007. The Management Board also resolved to conclude the share buyback program 2007/08. To date, the bank has not made use of the current buyback authorization.

As a result of the share buyback program implemented between May 30, 2007, and May 29, 2008, Deutsche Bank repurchased a total of 7,155,200 shares or 1.4 percent of the share capital. In total, this is equivalent to a value of € 724 million. This also included 200,000 shares acquired through the sale of put options.

From the start of our first share buyback program in mid-2002 until the end of May 2008, we repurchased a total of 223 million shares worth € 14.8 billion and cancelled 118 million Deutsche Bank shares with a value of € 7.2 billion.

As of December 31, 2008, the number of shares held in Treasury from buybacks totalled 8 million. This figure stems from 29 million shares at the beginning of the year, plus 1 million shares from buybacks, less 6 million shares to cover share-based compensation plans, and 16 million shares sold. Since our Annual General Meeting in 2007, we have not cancelled any shares.


Overview of all Deutsche Bank share buyback programs until May 29, 2008:

Reports
Share Buyback Program 2007/8: Final Report	[PDF / 17 KB]
Share Buyback Program 2006/7: Final Report	[PDF / 40 KB]
Share Buyback Program 2005/6: Final Report	[PDF / 20 KB]
Share Buyback Program 2004/5: Final Report	[PDF / 66 KB]
Share Buyback Program 2003/4: Final Report	[PDF / 69 KB]
Share Buyback Program 2002/3: Final Report	[PDF / 13 KB]