IR Releases - Archive

Frankfurt am Main, October 16, 2003

Deutsche Bank acquires Dresdner Bank custody unit

Dresdner Bank is transferring its Custody Solutions unit to Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB). The two parties have signed a definitive agreement to this effect. Assets under custody worth more than Euro 200 billion are to be transferred. Deutsche Bank will make an offer to the respective Dresdner Bank employees to continue their work at Deutsche Bank.

The transfer will cover the settlement, custody and administration of mainly German securities and traded derivatives for national and international financial intermediaries. These include, for example, banks, international central custodians, global custodians and insurance companies, but not Dresdner Bank's private clients.

Jürgen Fitschen, member of Deutsche Bank's Group Executive Committee, said: "The integration of Dresdner Bank's custody business into Deutsche Bank, which offers subcustodial services in 23 countries, is a major step in further leveraging our business as securities custodian and administrator in Germany. With the pooling of the two areas, we shall become the premier provider of domestic custodial services in Germany."

Deutsche and Dresdner Bank will ensure that their customers continue to receive high service quality in future and that the transfer takes place as simply and smoothly as possible.

The transfer of the custody unit is expected to be finalized by the end of next year subject to regulatory and anti-trust approvals.

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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