June 20, 2012

Deutsche Bank and Guggenheim Partners conclude negotiations on RREEF

Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) announced today that it has concluded exclusive negotiations with Guggenheim Partners over a potential sale of RREEF, its global alternative asset management business.

The parties were unable to agree on terms for the sale of the business and mutually agreed to end exclusive negotiations.

The Bank also announced that the strategic review of its global Asset Management division, initiated in November 2011, has concluded. The Bank will make a further update on its Asset & Wealth Management division as part of its commitment to communicate a long-term, Bank-wide strategy in September.

Note to editors: The strategic review of the global Asset Management division, announced on November 22, 2011, covered all of the Asset Management division globally except for the DWS franchise in Germany, Europe and Asia, which the Bank had already determined was a core part of its retail offering in those markets.

For further information, please call:

Deutsche Bank AG    

Press & Media Relations   
Dr. Klaus Winker    
Phone: +49 (0) 69 910 32249   
E-mail: Klaus.winker@db.com  

Mayura Hooper
Phone: +1 212 250-5536
E-Mail: mayura.hooper@db.com

Investor Relations
+49 69 910 35395 (Frankfurt)
+1 212 250 1540 (New York)

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a substantial private clients franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in more than 70 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, people and the communities in which it operates.



This release 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 revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, 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 20 March 2012 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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