May 1, 2006

DWS Scudder names Head of Investment Risk Oversight for Americas

DWS Scudder, a division of Deutsche Asset Management (DeAM), has announced the appointment of Regis Amarger as Chairman and Head of the Americas Investment Risk Oversight Committee for both equity and fixed income strategies. He will be based in [New York], reporting to Axel Schwarzer, Head of DeAM Americas and DWS Scudder.

Amarger will be responsible for all investment risk management activities, including the implementation of risk tools and the evaluation of risk management within investment portfolios. He will work closely with DeAM's portfolio managers to facilitate the delivery of investment outperformance to institutional clients and mutual fund shareholders. In addition to his Americas' role, he will serve as a member of both the Global Equity Risk Oversight and Global Fixed Income Oversight Committees, reporting in that capacity directly to Kevin Parker, Global Head of Deutsche Asset Management and member of the Group Executive Committee of Deutsche Bank.

Says Axel Schwarzer, "We are delighted that Regis will assume a leading role in building a strong investment risk culture at all levels of our organization and across all products and asset classes."

With more than 10 years of experience as a senior market risk manager, most recently at Goldman Sachs & Co., Amarger joins DeAM with a wealth of knowledge in all risk management functions, augmented by experience in analytics and systems development. He has worked extensively with buy-side, sell-side and proprietary trading desks and covered a broad range of products including fixed income, equities, derivatives, structured finance, credit products, foreign exchange products and commodities.

Amarger is a registered Financial Risk Manager with the Global Association of Risk Professionals. He holds an M.S. in Process Engineering from Institut National Polytechnique de Lorraine in Nancy, France, and an M.S. in Chemical Engineering from Ecole Nationale Superieure des Industries Chimiques, also in Nancy.

For further information, please call:
Rohini Pragasam 212-250-4516
Media Relations

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 992 billion in assets and 63,427 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

Deutsche Asset Management is the global asset management business of Deutsche Bank AG, with AUM of US$630 billion (as of 12/31/05). It is one of the world's leading investment management organizations in terms of the quality and breadth of investment products, asset management expertise and client service. DeAM provides asset management capabilities to a variety of clients worldwide including foundations, nonprofit organizations, public and private superannuation funds, high-net-worth individuals and retail investors.