Frankfurt am Main, October 22, 2008

Deutsche Bank completes capital increase at Hua Xia Bank


Deutsche Bank (XETRA: DBKGN.DE/ NYSE:DB) announced today that it has completed the capital increase at Hua Xia Bank, which was announced in March 2008. Through the capital increase, Deutsche Bank's stake has risen from 9.9% to 13.7% of issued capital. All in all, Deutsche Bank acquired roughly 267 million new shares for a total price of RMB 3.9 billion (roughly EUR 0.4 billion). The subscription was part of a private placement of shares with the three biggest shareholders in Hua Xia Bank.

Deutsche Bank first acquired a stake in Hua Xia Bank in May 2006. In June 2007, the two business partners successfully launched a joint credit card activity in China. Hua Xia Bank is a nation-wide joint stock commercial bank with headquarters in Beijing. It is listed on the Shanghai Stock Exchange. With over 10,000 employees and its national banking license, it operates 303 branches in China.


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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 26 March 2008 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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