July 20, 2006

Deutsche Bank announces two key appointments within the European Securitised Products Group

Deutsche Bank today announced Jeff Stolz has been appointed Head of European ABS Banking and Origination within the European Securitised Products Group (SPG) and Christopher Davis will join the Special Situations Group within SPG. Both appointments are effective immediately.

Stolz has been part of Deutsche Bank's European ABS franchise for over six years and has been instrumental in building the UK Mortgage Origination platform, "db mortgages", which launched in April 2006 and the recently launched platform, "Top immo", in Germany.

In his new role Stolz will continue to focus on expanding SPG's mortgage and consumer loan origination efforts, while identifying opportunities in the Pan European space. Stolz will report to Richard D'Albert, Managing Director and Head of the Securitized Products Group.

Davis has played a key management role over the past three years in Deutsche's European ABS Banking and Origination team, expanding the bank's ABS geographic footprint to reach first time issuers in Greece and Turkey, while capturing market share through cross border transactions.

Davis will join the Special Situations Group (SSG) within SPG and will focus on identifying principaling opportunities and new businesses for Deutsche to enter, developing new lending opportunities in Europe for SPG, and building the insurance securitisation business. Davis will report to Erik Falk, Global Head of SSG, in his new role.

For further information, please call:

Deutsche Bank
Stephanie Smart 
(44 20) 7545 2908
Press and Media Relations

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 Euro 1,035 billion in assets and 64,103 employees, Deutsche Bank offers unparalleled financial services in 73 countries 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.