October 24, 2007

Deutsche Bank appointed as depositary bank for the American Depositary Receipt program of Babcock & Brown Air Limited

Deutsche Bank announces its appointment as depositary bank for the New York Stock Exchange-listed American Depositary Receipt (ADR) program of Babcock & Brown Air Limited (NYSE:FLY).

Babcock & Brown Air Limited (B&B Air) is a company that acquires and leases commercial jet aircraft. B&B Air was formed by Babcock & Brown Limited (ASX: BNB), a global investment firm with more than 25 years of experience in aircraft leasing and financing. B&B Air leases its aircraft under long-term contracts to a diverse group of airlines throughout the world.  For more information, visit http://www.babcockbrownair.com/.*

Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, “We are pleased to be appointed as depositary bank for B&B Air’s American Depositary Receipts program and look forward to providing the company’s shareholders with the highest level of our specialized services.”

For further information, please call:

Deutsche Bank:

Oonagh Baerveldt   +44 (0) 20 7547 1605
Press Office

John Gallagher    +1 212 250 4516
Press Office

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 75,140 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.


Deutsche Bank’s Trust & Securities Services business, part of Global Transaction Banking, is one of the leading providers of trustee, agent, depositary, registrar, SPV management and related services for a wide range of debt financings including bonds, medium term note and commercial paper programs, asset backed and mortgage backed securities, collateralized debt obligations, project financings, escrows and syndicated loans. It is also one of the leading depositaries for American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs), and, through a fully integrated network of specialist offices worldwide, provides domestic custody services in 28 securities markets.

This announcement appears as a matter of record only. This announcement has been approved and/or communicated by Deutsche Bank AG London.