April 5, 2005

Deutsche Bank continues CDO Expansion

Richard Rizzo Joins CDO Trading from Merrill LynchDeutsche Bank Securities Inc. announced today that Richard Rizzo will join the Firm's Collateralized Debt Obligations (CDO) Group within the Global Markets Division next month. Rizzo will join as a Director in CDO Trading. He will be based in New York and report to Greg Lippmann, Global Head of CDO and ABS Correlation Trading and Head of North American ABS Trading and Syndicate.

"Our ability to enhance and increase trading in the secondary market is a vital part of our CDO business. Consequently, we have strengthened our team by hiring an outstanding trader with extensive industry and product knowledge," said Lippmann. "I believe Rich's skills combined with the strengths of the group will make a very positive impact on our business ."

Prior to joining Deutsche Bank, Rizzo spent 8 years at Merrill Lynch where most recently he was a Vice President in CDO Trading. He holds a BS in Mechanical Engineering from Carnegie Mellon University and an MBA from the University of Chicago.

In addition to Rizzo's hire, Deutsche Bank recently announced the hires of Tony Pawlowski, Director in CDO marketing and distribution, and John Kim, Vice President in CDO structuring. For further information, please call:

Michele Agostinho
Media Relations

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With Euro 840 billion in assets and 65,400 employees, Deutsche Bank offers unparalleled financial services in 74 countries throughout the world. Deutsche Bank is dedicated to excellence, constantly challenging the status quo to deliver superior solutions to our clients.

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.

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