December 20, 2007

Deutsche Bank enters Taiwan asset management market

Takes Majority Stake in Far Eastern Alliance Asset Management

Deutsche Bank’s Asset Management division today announced its formal entry to the Taiwanese funds management market, following the signing of an agreement to acquire a 60% majority stake in Taiwanese investment management firm, Far Eastern Alliance Asset Management Co., Ltd.

Subject to regulatory approval, the venture will be jointly owned by two partners -Deutsche Bank AG and Far Eastern International Bank - and the business renamed Deutsche Far Eastern Asset Management Company Limited.

"The transaction is in line with the objectives for our Asset Management division in Asia - namely, having leading platforms in core large and growing economies focused on global products and alternative investments," said James Wu, Deutsche Bank’s Chief Country Officer, Taiwan. "Deutsche Bank has been operating in Taiwan for the last 27 years and today is one of the largest foreign investment banking franchises in the country. Taiwan is also the fourth largest mutual fund market in Asia, and we believe it offers strong fundamentals plus attractive growth opportunities. Taiwanese are early adopters of more innovative investment products, and we expect global funds and alternative investments to provide the strongest growth opportunities in the future. These are also the asset classes where Deutsche Bank, through its DWS Investments and RREEF Alternative Investments brands, has market leadership in the asset management sector."

Eli Hong, President of Far Eastern International Bank said, "We are tremendously excited about our new partnership with Deutsche Bank, which has a strong commitment to the Taiwan market and a desire to build its asset management business. We have already seen the most successful strategies in this market combine strong local platforms with foreign ownership to leverage expertise in international and alternative themed products. Far Eastern is a very strong brand in Taiwan, and the Deutsche Bank relationship will build on our local fund management expertise and position us to capitalise on expected market reforms spanning the insurance sector and the trend towards outsourcing of government pension funds," he added.

For further information, please contact:

Cathy Knezevic +852 6087 8482
Kristin Silva  +61 411 110 953

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 77,920 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.

About Deutsche Asset Management

With approximately €568.03 billion in assets under management globally (as of October 2007), Deutsche Bank’s Asset Management division is one of the world’s leading investment management organisations, not just in size, but in the quality and breadth of investment products, performance and client service. The Asset Management division provides a broad range of investment management products across the risk/return spectrum.

About Far Eastern Group

Far Eastern Group is a conglomerate with its headquarters in Taipei, Taiwan, which is engaged in petrochemicals, telecommunications, cement production, manufacturing, retailing, transportation, financial services, investment and real estate, principally in Taiwan. Members of the Far Eastern Group also conduct manufacturing and sales operations in the PRC, Philippines, Singapore, Malaysia, Hong Kong, Thailand, Canada and export to more than 50 countries around the world. The Far Eastern Group is one of the largest and leading business groups in Taiwan, including eight stock exchange listed companies in Taiwan. The Group encompasses 193 companies, including 110 in Taiwan and 83 overseas. Group assets exceed NT$1.42 trillion (approx US$43.98 billion) as of 30 September 2007.

Certain Deutsche Asset Management products may not be available in every region or country for legal or other reasons, and information about these products is not directed to those investors residing or located in any such region or country.