May 15, 2006

DWS Scudder appoints Michael Clark Head of Fund Board Relations

DWS Scudder, a division of Deutsche Asset Management (DeAM), today announced the appointment of Michael G. Clark as Managing Director and Head of Fund Board Relations. In his new role, Clark will act as DeAM's primary contact with the DWS Scudder fund boards and will join the senior management team of DWS Scudder, reporting to Axel Schwarzer, head of DWS Scudder. He will also oversee the Treasurer's Office functions headed by Paul Schubert, Managing Director and Chief Financial Officer and Treasurer, DWS Scudder.

"Michael's inclusion on the DWS Scudder senior management team reflects the vital importance of this role, as well as our commitment to work closely with our fund boards to successfully execute the DWS growth strategy in the United States," said Schwarzer.

Clark joins DeAM from Merrill Lynch Investment Asset Managers (MLIM), where he has served in various capacities since 1991, most recently as the firm's relationship manager with independent directors of US-registered funds. Prior to that, he was Director of Product Development at MLIM, responsible for the management of the product development process within the Americas region of the organization and had also acted as Senior Vice President of Operations.

Clark is trained as a Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA) and also holds multiple registrations through the NASD including Investment Company Products/Variable Contracts Representative and Principal; General Securities Registered Representative and Principal; and Financial and Operations Principal. He is a member of the American Institute of Certified Public Accountants, New Jersey Society of Certified Public Accountants, The Association for Investment Management and Research, and The New York Society of Security Analysts. He holds an MBA in Finance from Seton Hall University and a BS in Accounting from The College of New Jersey (formerly Trenton State College).

For further information, please call:

Rohini Pragasam
Media Relations

Mayura Hooper
Media Relations

About Deutsche Bank

Deutsche Bank <NYSE: DB> 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 1,035 billion in assets and 64,103 employees, Deutsche Bank offers unparalleled financial services in 73 countries 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.

About Deutsche Asset Management

With approximately US$630 billion in assets under management (as of 12/31/05), Deutsche Asset Management is one of the world's leading investment management organizations, not just in size, but in quality and breadth of investment products, performance and client service. Deutsche Asset Management is geographically divided into three regions - the Americas, Europe and Asia Pacific, providing a broad range of investment management products across the risk/return spectrum.