1. The total high yield trading portfolio of Deutsche Bank Group amounted to net EUR 0.3 bn as at 30 September 2000. There have been no material losses on this book year-to-date.
2. Total loan exposure to telecom companies stood at EUR 8.1 bn as at 30 September 2000. Approx. 90% of this amount is vis-a-vis investment grade companies (BBB/Baa or better), leaving only about 0.25% of Deutsche Bank's total loan volume with sub-investment grade telecom borrowers.
Deutsche Bank actively manages all its positions to assure that possible further setbacks will not have a material impact on earnings. We are committed to increase our market share in the high yield business, which continues to be a strategic priority for us. The financial results of Deutsche Bank Group for the first nine months 2000 will be released on 1 November 2000.