June 6, 2007

Deutsche Bank expands Equity Structuring in New York

Deutsche Bank Securities, Inc. today announced three additions to its Integrated Investment Solutions Group within the Global Markets division. Phil Li has joined as a Director, and Robert Painter and Guillermo MacLean have joined as Vice Presidents. Li and Painter report to Keith Cunningham, Director, and MacLean reports to Markus Barth, Director. All are based in New York.

Li will securitize non-traditional risks for distribution to institutional clients. He joins Deutsche Bank from ABN Amro where he was Head of Structuring and Analytics in the Asset Backed Securities and CDO Origination group. Li earned an MBA in Analytic Finance and Econometrics from the University of Chicago, an MS in Computer Science from Drexel University and a BS in Material Science and Engineering from Shanghai Jiao Tong University.

Painter will structure investment products and hedging instruments for insurance companies. He joins from Conning Asset Management, a subsidiary of Swiss Re, where he was an Asset-Liability Management advisor, developing customized investment strategies for insurance asset management clients. Painter earned a BS in Mathematics and Economics from Wheaton College and is an associate of the casualty actuarial society.

MacLean will focus on developing new investment content, such as customized, investable indices, for both institutional and retail customers. He was previously a Senior Research Analyst at Sanford C. Bernstein and a Corporate Development Strategist at Putnam Investments. He earned an MBA from Dartmouth and a BA in Economics from Georgetown.

“We are pleased to welcome Phil, Robert and Guillermo to our team, and we’re confident
their experience will strengthen our ability to deliver preeminent investment solutions for institutional and retail clients,” said Christopher Yeagley, Managing Director and Head of the Integrated Investment Solutions Group in the Americas.

For further information, please call:

Renee Calabro +1-212-250-5525
Media Relations

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 73,114 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.

Deutsche Bank Securities Inc., member NYSE, NASD and SIPC, is the investment banking and securities arm of Deutsche Bank AG in the United States.