July 16, 2008

Deutsche Securities sole lead manages 10 year domestic straight bond for Mitsubishi Estate

Deutsche Securities Inc. (DSI), today announced the successful launch of a 10-year domestic unsecured straight bond issue (no.92) for Mitsubishi Estate Co., Ltd. DSI served as sole lead manager for the issue.

The offering is sized at an aggregate ¥15 billion and is rated AA by R&I, Aa3 by Moody’s and A+ by Standard & Poor’s. The notes, which mature on July 24, 2018, are priced at par and carry a coupon of 1.84%payable semi-annually on January 24 and July 24 (initial payment on January 23, 2009). Settlement is due on July 24, 2008.

Yuji Nomoto, Vice Chairman of Global Markets and Head of Global Capital Markets at DSI, said, “We are very pleased to have had the opportunity to support Mitsubishi Estate in the successful issue of this benchmark 10-year JPY15 billion bond issue. Terms, including the increased size of that Mitsubishi Estate regularly choose, is well received reflecting strong demand for the Mitsubishi Estate’s bonds by investors despite the current difficult market environment particularly for real estate sector issuers. We understand that this successful execution was the result of reputable presence and high credit quality that Mitsubishi Estate has maintained in the capital market over years. The issue was placed with a wide range of investors, with demand centering chiefly on the life insurance sector. DSI is committed to serving the financial and strategic needs of our clients through our considerable global and domestic capital market experience and expertise.”

For further information, please call:

Deutsche Securities Inc.

Seiko Adachi / Aston Bridgman                               
(81 3) 5156 7705/7709
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 78,275 employees in 76 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 1,410 people.


Company name:        
Deutsche Securities Inc.

Registration number:        
Financial instruments dealer, Kanto Financial Bureau (Kin-sho) No. 117

Member of associations:       
Japan Securities Dealers Association 
The Financial Futures Association of Japan

Concerning Risks:

Performance of the ‘Mitsubishi Estate Co., Ltd. 10-year domestic unsecured straight bond issue (no.92)’ may be affected by changes in interests rates, credit on assets in trust, the credit status of the issuer, market and price movements and the effects of other risks that can potentially affect the investment principal.

Other notices:

This document is intended only for Deutsche Securities Inc. to communicate the issue of the ‘Mitsubishi Estate Co., Ltd. 10-year domestic unsecured straight bond issue (no.92)’. Should you purchase the bond through a transaction with Deutsche Securities Inc., you would pay only the purchase price. However, there also situations in which you recurring interest charges, in addition to the purchase price, might be incurred. As stated in ‘Concerning Risks’ above, market and foreign exchange movements, economic trends, price movements and other risks including financial, legal, tax and accounting may cause a loss in investment principal. Potential investors in the ‘Mitsubishi Estate Co., Ltd. 10-year domestic unsecured straight bond issue (no.92)’ are strongly urged to read the ‘Offering Prospectus’ and the ‘Contract Summary’, to understand and accept their contents and, based on these actions, to make their own investment decision.