December 16, 2005

Deutsche Securities Limited, Tokyo Branch to incorporate in Japan

Deutsche Securities Limited, Tokyo Branch (DSL) today announced that it will incorporate as a Japanese corporation (Kabushiki Kaisha) in a strong reaffirmation of Deutsche Bank Group's commitment to Japan and in pursuit of the utmost standards in corporate governance. Following its incorporation in Japan, DSL will be named 'Deutsche Securities Inc.' and will commence business operations from January 4, 2006.


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