Frankfurt am Main, June 27, 2007

Deutsche Bank achieves Financial Close on 20MW Solar Power Plant “Solaris”, Spain


Deutsche Bank has achieved on 26 June 2007 Financial Close on a landmark hybrid private wealth management and capital markets portfolio project financing of a photovoltaic solar energy park in El Bonillo (Albacete), Castillia La Mancha, Spain.

This is the first solar power project in Europe to be financed using a capital markets solution and the first renewables project financing to reach financial close in Spain since the new tariff regime for renewables (Royal Decree 661/2007) came into effect on 1 June 2007. The financing uses an innovative funding solution that accommodates best the needs of investors and project developers for the successful implementation of the project.

The transaction is designed to benefit from the regulated tariffs afforded by the Special Regime under the new Royal Decree, under which generators under 100kW are eligible for favourable tariffs. The park consists of 200 individual power stations owned by private and corporate investors introduced by Deutsche Bank, Private Wealth Management, Spain. The individual power stations benefit from common infrastructure, construction, operation and management provided by companies in the Abastecimientos Energéticos, S.L.U. ("Abaste") Group.

The financing, totalling Euro 217 million and including Euro 185 million senior notes is provided on a portfolio basis to the 200 power stations through a Luxembourg Issuer Vehicle. Euro 33 million are provided in the form of equity and quasi-equity instruments. This transaction is the first capital markets solution of its kind in Europe for this asset class. It is also an exciting milestone in the development of hybrid project finance and, in particular portfolio aggregation, as it provides private client investors with the benefits of the international capital markets. This transaction further consolidates Deutsche Bank’s position of developing innovative and pioneering transactions combining its equity distribution power in the Private Wealth Management Business with its structuring and advisory capacity and pre-eminent capital markets, securitisation and derivative financing capabilities.


For further information, please call:

Deutsche Bank

Dr. Ronald Weichert +49 69 910-38664
Press and Media Relations


About Deutsche Bank

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 73,114 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

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This release also contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. 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.

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 implementation of our management agenda, 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 27 March 2007 on pages 9 through 15 under the heading "Risk Factors." Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir .





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