September 1, 2006

Deutsche Bank Private Wealth Management appoints Hannes Oelschlegel as Head of Central & Eastern Europe and Turkey

Deutsche Bank Private Wealth Management today announced the appointment of Hannes Oelschlegel as Managing Director and Head of Private Wealth Management Central & Eastern Europe and Turkey with effect from 1 September. In his new role, he will be responsible for further developing Private Wealth Management capabilities in this region, which will include both product and servicing enhancements as well as a broader relationship and marketing presence.
  Hannes Oelschlegel joins Deutsche Bank from UBS where he was Head of Wealth Management Eastern Europe. In his previous role, Oelschlegel increased substantially business volume and profitability and built successfully relationships with both institutional and private clients. He spent 16 years at UBS in different leadership positions in Zurich and in Singapore. Oelschlegel holds a technical engineering degree from Clausthal University (Germany) and started his career at Linde AG in Munich, followed by senior assignments in Norway and in the United States. Oelschlegel will be based in Zurich and reports to Dr Hans-Jürgen Koch, Head of Deutsche Bank Private Wealth Management International and Chief Executive Officer of Deutsche Bank (Switzerland) Ltd.

“Hannes brings a wealth of experience in successfully building up private banking business in emerging markets like Eastern Europe. He has an excellent understanding of the needs of our clients in the region” said Koch. Deutsche Bank Private Wealth Management already has a very strong presence in Eastern Europe and Turkey and is committed to further expand its business in these growing markets.

Pierre de Weck, member of the Executive Committee of Deutsche Bank, added: “We are very pleased that Hannes Oelschlegel will join us. He will play a central role in leveraging Deutsche Bank’s global capabilities to the advantage of our private wealth management clients. This includes enhancing our tailored financial product and service offering for wealthy individuals, attracting experienced wealth management professionals, and cooperating seamlessly with other business units like Corporate and Investment Banking as well as Asset Management.”

For further information please contact:

Deutsche Bank AG  
Andreas Bartels    
Press & Media Relations   
Tel. (+49) 69 910 42648   

Deutsche Bank (Switzerland) Ltd

Alberto Klaas
Marketing & Public Relations
Tel. (+41) 22 739 0488

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 Euro 1,058 billion in assets and 65,435 employees in 73 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 (Switzerland) Ltd., with offices in Geneva, Zurich and Lugano, is a subsidiary of Deutsche Bank AG and specialises in asset advisory and private wealth management services for sophisticated international customers.

This Release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations. Any statement in this Press Release that states our intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include: the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues; potential defaults of borrowers or trading counterparties; the implementation of our Business Realignment Program; the reliability of our risk management policies, procedures and methods; and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 23 March 2006 in the section "Risk Factors." Copies of this document are readily available upon request or can be downloaded from