February 23, 2005

Deutsche Bank's Andrew Marcus joins Media Investment Banking Team

Deutsche Bank Securities Inc. today announced that Andrew "Drew" Marcus has joined the Media & Telecom Investment Banking Group and has been named a Vice Chairman of Global Banking in the Americas. Marcus, 43, who has been with Deutsche Bank since 1992, previously was a Managing Director and Global Head of Media Equity Research. He will report to Chris Johnson, Head of Media Coverage in the Americas and Co-Head of Telecom & Media Investment Banking with David Pearson. Pearson also is Head of Telecom Coverage in the Americas.

Over the course of his career, Marcus has been ranked as the #1 broadcasting equity research analyst in surveys conducted by Institutional Investor, The Wall Street Journal, Reuters and Red Herring Magazine. In addition, he is an eight-time Institutional Investor "All-American," a five-time Wall Street Journal "All-Star" and an Institutional Investor "Home Run Hitter." Before joining Deutsche Bank, Marcus was a senior analyst in the Media and Entertainment Research Group at Kidder, Peabody & Company and before that, he was part of that firm's Technology Research Group, which he joined in 1983.

"During his 20 years covering the media sector, Drew has developed a comprehensive understanding of the companies, trends and leaders shaping the future of the industry," said Johnson. "His unique perspective and deep relationships will be invaluable as he advises our clients on mergers and acquisitions, capital raising and other strategic issues."

"Drew has developed a unique perspective by critically analyzing the industry's evolution over 20 years, and that knowledge combined with his vision for the future will be invaluable as the media, tech and telecom industries reach a critical stage of convergence," said Jacques Brand, Co-Head of Corporate Finance Coverage in the Americas.

"Drew has built and led a world-class team of research analysts with the most comprehensive coverage of all sectors within the media industry," said David Manlowe, Head of Company Research in the Americas. "We are committed to continuing to provide our institutional clients with high-level, value-added analysis of the changing media landscape."

Marcus graduated from the University of Michigan with an A.B. in Economics and is a Chartered Financial Analyst.

For further information, please call:
Ted Meyer
Media Relations, Deutsche Bank

About Deutsche Bank

With roughly Euro 840 billion in assets and approximately 65,400 employees, Deutsche Bank <NYSE: DB> offers unparalleled financial services in 74 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 & 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.