Press Releases

Frankfurt am Main, July 20, 2005

Deutsche Bank strengthens its equity research

As part of the ongoing expansion of its equity research activities, Deutsche Bank is taking on two further industry analysts to supplement its research teams.

Martin Praum (30) will head the bank's equity research for real estate and diversified financials in Germany from January 1, 2006. His primary focus will be on strengthening the bank's real estate equity franchise. Deutsche Bank expects to see major medium-term business potential coming from real estate equity in Germany, partly in connection with the anticipated launch of REITs (Real Estate Investment Trusts) in Germany. Mr. Praum leaves Sal. Oppenheim after successfully building up the private bank's real estate equity research activities since late 2003. His eight-year career also comprises posts with ABN AMRO and Deutsche Bank as an industry analyst for banks and financial services.

Uwe Schupp (31) will join the bank on November 1, 2005 to augment technology and healthcare equity coverage. His latest position was with Equinet, an investment bank specializing in the small and mid-cap segment, where, as part of the European Securities Networks (ESN), he successfully served as European coordinator for the industrial engineering sector. Mr. Schupp has worked as an analyst for over eight years at various companies including ABN AMRO and Deutsche Bank.

Both Mr. Schupp and Mr. Praum will be based in Frankfurt and report to Dr. Andreas Neubauer (40), Head of Equity Research Germany.







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