March 22, 2005

Deutsche Bank appoints Managing Director to Support Real Estate Growth

Deutsche Bank today announced the appointment of Andrew Stainer as Managing Director within the bank's Real Estate Investment Banking division.  Starting in May, Stainer, who will be based in London, will report to Nick Jacobson, Head of European & Asian Real Estate Investment Banking.

Stainer joins from JP Morgan where he had been for 10 years, most recently leading their European Principal Finance Group, acquiring portfolios of non-performing loans in Germany and the Czech Republic.  Prior to joining the Principle Finance Group, he was a banker in Real Estate Investment Banking and subsequently Real Estate Structured Finance.

During his time there, Stainer worked on numerous corporate real estate divestitures across Europe, including Swisscom's portfolio sale to Lehman Brothers and France Telecom's portfolio sales to consortia led by Goldman Sachs and Morgan Stanley respectively. He has also been involved in 'public to private' transactions in Sweden and the UK, including the financing of Morgan Stanley's acquisition of Canary Wharf by a consortium led by Morgan Stanley.

Commenting on the appointment Nick Jacobson Head of European & Asian Real Estate Investment Banking said; "The appointment of Andrew Stainer to the team reaffirms our commitment to Real Estate Investment banking.  This is a sector that is seeing tremendous growth and by increasing our network, we can ensure that we are best placed to access these opportunities."

Jacques Brand Global Head of Real Estate, Gaming and Lodging Investment Banking added; "We are strongly committed to maintaining our leading Real Estate capability and the addition of Andrew Stainer to the team, can only serve to strengthen our current offering."

Deutsche Bank completed a number of successful transactions during 2004, including advising the €3.2 billion acquisition of Duelguide plc by Westfield, the €2 billion merger of PSP Swiss Property and REG, and the provision of innovative financing to, amongst others, Fortress on their acquisition of Gagfah.

For further information, please call:

Deutsche Bank
Joanna McCulloch               
(+44 20) 7545 6941
Press & Media Relations

About Deutsche Bank

With roughly Euro 840 billion in assets and approximately 65,400 employees, Deutsche Bank 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 & business banking franchise in Germany and other selected countries in Continental Europe.