March 8, 2007

Deutsche Securities Inc. Lead Manages JPY60 billion in samurai bonds for Deutsche Bank AG

Deutsche Securities Inc. (DSI), today announced the launch of two Yen-denominated ‘samurai’ bond issues in Japan for Deutsche Bank AG. DSI is serving as the Sole Lead Manager on this third samurai bond to be issued by Deutsche Bank AG, following previous issues in May 2001 and February 2004.

The bonds will be issued by Deutsche Bank AG London Branch on behalf of the Bank’s Frankfurt head office. The No.3 Fixed Income Bond has an issue size of JPY38 billion and a coupon of 1.39%. The No.1 Floating Rate Bond has an issue size of JPY22 billion, together with a coupon of LIBOR 3m + 0.07%. Both bonds are priced at 100%. The five year issues mature on March 19, 2012 with payment due by March 19, 2007, and are rated Aa3 by Moody’s Investors Service Inc. as well as AA- by both Standard and Poor’s and Fitch Ratings.

Henry Ritchotte, Head of Global Markets and Representative Director at DSI, said, “I am very pleased to have the opportunity to support Deutsche Bank’s capital raising activities in the Japanese market at a volatile time in bond markets globally. At Deutsche Securities, we continue to strive to provide the broadest range of services to meet the unique needs of both our issuing and investing clients.”

For further information, please call:

Deutsche Securities Inc.

Seiko Adachi (81 3) 5156 7705
Communications, Region Japan

Aston Bridgman (81 3) 5156 7709
Communications, Region Japan

About 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 1,128 billion in assets and 68,849 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.

In Japan, Deutsche Bank Group is engaged primarily in investment banking for corporate and institutional clients, corporate banking and asset management. The Group employs about 1,166 people.