March 23, 2006

Deutsche Bank publishes 2005 Annual Report

Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) today published its Annual Report for the 2005 financial year. The Annual Report consists of an Annual Review and a Financial Report.

The illustrated Annual Review gives detailed information on Deutsche Bank, its strategy, its divisions, its activities related to shareholders, customers, staff and society. It also contains a summary of the financial results for 2005.

Josef Ackermann, Chairman of the Management Board, writes in his letter to shareholders, "Deutsche Bank enjoyed a record year in 2005. The bank is well positioned, both in its home market Germany and globally. We have a presence, and a competitive position, in all important growth markets. This has already delivered very good results. We will continue down this path. With our global reach, our financial strength, and the expertise of our staff we will maintain and build out Deutsche Bank's position as one of the world's leading global financial institutions."

The Financial Report contains the audited consolidated financial statements of Deutsche Bank for the 2005 financial year according to U.S. GAAP. Integrated into the Financial Report is a comprehensive Risk Report and the Corporate Governance Report. Among other things, Deutsche Bank publishes the total compensation paid to the Management Board. In 2005 it was € 28.7 million compared with € 25.1 million in 2004. Total compensation paid to Josef Ackermann, Chairman of the Management Board, was € 11.9 million.

The Annual Review, Financial Report and additional publications, such as a list of shareholdings and a list of mandates, can be retrieved from Deutsche Bank's website at Also available on this website is the final version of the 4Q2005 Financial Data Supplement. Deutsche Bank will also today submit its SEC Form 20-F to the US Securities and Exchange Commission (SEC).

Deutsche Bank is providing a complete online version of the Annual Review and the Financial Report giving investors and analysts rapid access to information. The processing of these reports is made simple via comprehensive file collection and download options, various search functions and a sitemap. All tables of the Annual Review and the Financial Report, e.g. segment reporting, balance sheet or statement of income, can be downloaded in Excel. Multimedia applications round off the range of information available.


For further information, please contact:

Press and Media Relations 

Kirsten Siersleben + 49 69 910 38079 
Ronald Weichert    +49 69 910 38664 

Investor Relations

+49 69 910 35395 (Frankfurt)
+1 212 250 7125 (New York)


About Deutsche Bank

With Euro 992 billion in assets and 63,427 employees, Deutsche Bank offers unparalleled financial services in 73 countries throughout the world. 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 ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private and business banking franchise in Germany and other selected countries in Continental Europe.


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