IR Releases - Archive

Frankfurt, October 9, 2003

Deutsche Bank sells its stake in Axel Springer AG

Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) today announced the sale of a 19.4 per cent stake in Axel Springer AG to Hellman & Friedman LLC, a private equity investment firm from San Francisco specializing in investments in the media sector. The sale price was Euro 350 million.

Deutsche Bank intends to sell its remaining stake in Axel Springer AG back to the company under a share buyback offer announced by Springer.

The bank expects to sell its entire shareholding, which at present still amounts to 29.4 per cent.

Deutsche Bank had become a shareholder in Axel Springer AG in the course of a disposal of pledged assets in October 2002.

This Investor Relations Release contains forward-looking statements. Forward-looking statements are statements that are not historical facts, including statements about our beliefs and expectations. Any statement in this Investor Relations Release that states our intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Forward-looking statements involve inherent risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues; potential defaults of borrowers or trading counterparties; the implementation of our restructuring including the enivsaged reduction in headcount; the reliability of our risk management policies, procedures and methods; and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of March 27, 2003 on pages 9 through 13 under the heading "Risk Factors."  Copies of this document are readily available upon request or can be downloaded from

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