September 30, 2005

Deutsche Bank completes sale of UK-based asset management businesses

Deutsche Bank today announced the successful completion of the sale of parts of the London-based asset management business of Deutsche Asset Management to Aberdeen Asset Management PLC, effective at close of business today. Businesses included in the sale are the UK-based institutional Equity, Fixed Income, Global Equity, Multi-Asset and DWS retail businesses.

This disposal allows Deutsche Bank to create a stronger, more focused asset management business that can provide greater value to its clients and shareholders.

The sale of Deutsche Asset Management's Philadelphia-based Active Fixed Income business will be completed around 30 November 2005.


For further information, please call:

Deutsche Bank

Jezz Farr                               
(44 20) 7545 7506     

Klaus Winker                        
(49 69) 9103 2249     


About Deutsche Bank


With Euro 964 billion in assets and 63,652 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 and business banking franchise in Germany and other selected countries in Continental Europe.

Deutsche Asset Management (DeAM) is the global asset management business of Deutsche Bank AG, with AUM of US$723 billion (as of 6/30/05). DeAM is one of the world's leading investment management organisations. DeAM provides asset management capabilities to a variety of clients worldwide including foundations, non-profit organisations, public and private superannuation funds, high-net-worth individuals and retail investors.