July 5, 2006

DWS Scudder strengthens US Distribution Team with 20 new hires

DWS Scudder, a division of Deutsche Asset Management Americas (DeAM) has strengthened its sales and product management force with the addition of 20 new professionals. This follows the hire of 16 sales professionals announced earlier this year.

"The new hires underscore DWS Scudder's aggressive growth strategy for the US marketplace and our commitment to providing financial advisors and their clients with the highest levels of service, innovation and performance," said Philipp Hensler, Managing Director and Head of DWS Scudder Distributors, Inc. "These  additions to strategic areas of the organization supporting key accounts and investment consultants, further enhance our ability to develop and maintain strong client relationships and further differentiate DWS Scudder within the industry."

Regional Vice Presidents: Mark Foley, Dale Knight, Peter Monty and Jeff Whipple, will cover territories in the western US, reporting to Regional Director, John Telling; Mark Robeson will cover territories in the southern US, reporting to Regional Director Mark Perrelli; Brian Goehl, will serve the central US, reporting to Regional Director Bud Cappola; Dennis Hart and Stephen Paul, will cover the eastern region, reporting to Regional Director Matt Eisenhardt. James Bentley joins the Retirement Services Division, reporting to Ron Cohen, Head of Retirement Plan Services.

DWS Scudder Account Managers: John O'Brien and David Odenath report to Kim Mustin, head of key accounts in the Financial Institutions Group; Mary Moravek and Jason Lauderback, report to Pete Tufts, head of key accounts in the broker dealer division; and Rosey Valencia, reporting to Steve DiMaio, head key accounts in the Financial Advisor division.

Additionally, Kevin Breen and David L. Hill will work directly with Investment and Employee Benefit Consultants in support of one of the firm's key strategies for the retirement marketplace, also reporting to Kim Mustin. John Shupe and Stephen Knoll have joined the firm as Vice Presidents in the Product Management Group, reporting to Mark Peterson and Stephen H. Bitteker has been named Regional Director for offshore funds, reporting to Anke Schaks.
"These additions to the organization build on the significant momentum we have already achieved in building and strengthening the DWS Scudder sales platform," said Axel Schwarzer, Managing Director and Head of DWS Scudder. "As we continue to cultivate our business, we believe the experience and calibre of these individuals will directly support DWS Scudder's growth objectives and world-class product and service offering."


For further information, please call:

Rohini Pragasam        212-250-4516
Media Relations

Mayura Hooper                212-250-5536
Media Relations


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 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.

Deutsche Asset Management

With approximately US$630 billion in assets under management globally (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.

DWS Scudder is part of Deutsche Asset Management, which is the marketing name in the US for the asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Asset Management Inc., Deutsche Investment Management Americas Inc. and DWS Trust Company.  Securities products and services distributed by DWS Scudder Distributors, Inc.