August 2, 2005

Deutsche Bank appoints Devin Murphy Global Head of Real Estate Investment Banking

Deutsche Bank today announced that Devin Murphy has been appointed Global Head of Real Estate Investment Banking, which includes the real estate, gaming, lodging and leisure sectors. Murphy succeeds Jacques Brand, who will continue to work closely with the Real Estate group in his role as Co-Head of Corporate Finance Coverage in the Americas, a position he has held since 2002. Murphy will continue to be based in New York and report to Brand, and he will work in close coordination with David Fass, Head of Global Banking - Europe, and Lee Zhang and Jonathan Paul, Co-Heads of Corporate Finance Coverage in Asia.

Murphy joined Deutsche Bank in March 2004 as a Managing Director and Head of Real Estate Investment Banking in the Americas. Before that he was a Managing Director and Co-Head of US Real Estate Investment Banking at Morgan Stanley, where he worked for a total of 14 years.

"Devin has been an excellent addition to what was already one of the premier real estate investment banking team in the industry, as evidenced by our market-leading position over the last two years," said Brand. "Our advisory business is strong across multiple geographies, and Devin's credentials and broad client relationships make him ideally suited to lead our global team."

"The real estate sector has long been a core strength for Deutsche Bank and a growth area for the bank globally," said Fass. "Devin has an outstanding track record cultivating long-term advisory relationships, and we are delighted to have him lead this important team."

Lee Zhang and Jonathan Paul said activity in the Asia-Pacific real estate, gaming and leisure sectors is likely to be strong in the near future, particularly in Southern China, Macau, Singapore and Australia. "We view the appointment of Devin as a sign of our increased commitment to the sector, and look forward to him sharing his expertise with our clients in the region."

Murphy has a BA from The College of William and Mary with honors and an MBA from the University of Michigan.


For further information, please call:

Ted Meyer   001-212-250-7253
Media Relations, Deutsche Bank


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With Euro 964 billion in assets and 63,652 employees, Deutsche Bank <NYSE: DB> offers unparalleled financial services in 74 countries throughout the world. Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private and business banking franchise in Germany and other selected countries in Continental Europe.

Deutsche Bank Securities Inc. is the investment banking and securities arm of Deutsche Bank AG in the United States.