April 12, 2005

Deutsche Bank further strengthens High Yield Group with four key hires

Mark Colm, Robert Leone, Steve Rosen and Brian Zucker Join High Yield Sales and TradingDeutsche Bank Securities Inc. today announced that four industry veterans will join the firm's High Yield Group within the Global Markets Division . Mark Colm and Steven Rosen will join as Managing Directors in High Yield Sales. Robert Leone and Brian Zucker will join as Managing Directors in High Yield Trading.

Rosen joins from Morgan Stanley and Zucker returns to the firm from Goldman Sachs. Colm and Leone will join the firm next month from Merrill Lynch. The group is based in New York.

"These four individuals are extremely talented and valuable additions to our franchise. They are highly regarded in the market and have enjoyed extremely successful careers ", said Steve Renehan, Head of High Yield Sales and Trading. "Their decision to come to the firm is a further indication that our client-focused and integrated platform has made Deutsche Bank the most logical and appealing choice for the industry's top talent."

"The hiring of these senior and experienced individuals will enable us to maximize our capabilities ," said Fred Brettschneider, Head of the Institutional Client Group in the Americas . "We are committed to the further expansion of our credit continuum across all products - converts, high grade, high yield and credit derivatives."

For further information, please call:

Michele Agostinho
Media Relations

About Deutsche Bank

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.