Deutsche Bank AG (XETRA: DBKGn.DE / NYSE: DB) today announced in the form of a compulsory notification pursuant to the German Securities Trading Act that on 24 May 2004 its holdings of its own shares exceeded the threshold of 5 per cent and is now 5.0 per cent. The reason for the reporting limit being exceeded is the execution of the current share buy-back program.
By 24 May, Deutsche Bank had bought back 48.8 million shares, or 8.4 per cent of shares issued. The difference between the repurchase volume and the current inventory mainly results from the use of treasury shares in February 2004 to hedge share-based compensation plans granted to employees.
By their very nature, forward-looking statements involve 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 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 25 March 2004 in the section "Risk Factors." Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.