November 30, 2007

Deutsche Bank further strengthens SPAC Equity Business

Deutsche Bank Securities Inc. today announced it is adding three senior specialists in the Bank’s Equities group as part of an expansion of its Special Purpose Acquisition Company (SPAC) coverage and distribution business. Gil Ottensoser will join the Bank’s US Cash Equity Sales Group as a Managing Director and Eric S. Hackel has joined US Cash Equity Sales as a Vice President. In addition, John H. Shaw III will join the Equity Capital Markets Group as a Director. These additions will further strengthen Deutsche Bank’s SPAC platform.

To date this year, 60 SPAC equity deals have been priced raising a total of US$10.1 billion, representing 19.6% of overall IPO dollar issuance and 26.9% of new issues. Deutsche Bank has served as a bookrunner on six SPAC deals this year, raising $1.32 billion. The Bank’s global platform provides its SPAC clients with a full range of banking services, from inception through post-acquisition.

“Over the past year, we’ve seen that the equity markets continue to be receptive to “blank check” companies with premier management teams, leading sponsors and attractive deal structures,” said Michael Friezo, Head of U.S. Equity Capital Markets. “We believe that Deutsche Bank is the ideal partner in “blank check” capital raising, and these hires will continue the strong momentum we have achieved in the SPAC market over the past two years.”

Ottensoser, Shaw, and Hackel all will join from Legend Merchant Group, Inc. (LMG), a broker-dealer with significant experience in SPAC distribution. While at LMG, they were the principals responsible for the firm’s involvement in the SPAC/Structured Blank Check arena and had spearheaded LMG’s participation as a co-manager, underwriter, or selling group member in more than 75 SPAC equity offerings since August of 2003.

“Gil, John and Eric have been highly active participants in the secondary market trading of SPACs for many years and among them possess a broad range of experience in this space,” said Derek Capanna, Head of Cash Equity Sales for North America. “They have proven to be adept at the facilitation of large institutional block trades as well as the sourcing of additional pools of liquidity to provide clients with best execution. We’re confident that they will be an excellent addition to the Bank’s Street-leading SPAC platform.”

Ottensoser was the Vice Chairman of LMG and one of the three founding Partners of the firm in 2002. Prior to LMG, Ottensoser was a Senior Vice President at Jesup & Lamont Securities from 1996 to 2002, raising capital for both public and private companies.

Shaw was the President and Co-Chairman of LMG and was a primary force in the formation of the firm in 2002. Prior to LMG, he was a Managing Director at Broadmark Capital, and held similar positions at Fahnestock (now Oppenheimer) and Ladenburg, Thalmann.

Hackel was a Senior Managing Director at Legend and served as Co-Head of LMG’s Institutional Sales effort. Hackel was formally a Senior Vice President at Jesup and Lamont Securities.

Mr. Shaw will report to Michael Friezo. Ottensoser and Hackel will report to Derek Capanna. All three will be based in New York.

For further information, please call:

John Gallagher

Renee Calabro

Press and Media Relations, Deutsche Bank

Deutsche Bank

Deutsche Bank <NYSE: DB> 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 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, FINRA and SIPC, is the investment banking and securities arm of Deutsche Bank AG in the United States.