March 9, 2006

Jose Miguel Alcalde named Country Manager of Deutsche Bank Chile

Deutsche Bank announced today the appointment of Jose Miguel Alcalde as Managing Director and Country Manager for Deutsche Bank Chile. Alcalde is based in Santiago, and reports to Seth Waugh, CEO for Deutsche Bank in the Americas and to Pablo Calderini, Global Head of Emerging Markets. He succeeds Rodrigo Perez, who is retiring from the firm.

Alcalde joined Deutsche Bank in 2000 as head of Global Markets in Chile. Prior to joining the firm, he served as Chief Financial Officer of Banco Edwards, later part of Banco de Chile. Previously he worked for Citibank for six years, where he first headed the bank's fixed income desk and
subsequently their derivatives business.

Perez retires from the firm after fourteen years of service but will continue to serve as a Director of Deutsche Bank Chile. He joined AFP Provida, a subsidiary of Bankers Trust N.Y., in 1992 and served as Head of Bankers Trust Investment Bank in Chile from 1995 to 1999. Upon the purchase
of Bankers Trust by Deutsche Bank in 1999 Perez was named Managing Director and Country Manager for Deutsche Bank Chile. Previously he worked at Citicorp in Chile in derivatives, corporate finance and equities brokerage.

"Our success in Chile is a testament to Rodrigo's leadership, client relationships and in-depth knowledge of the local market," said Seth Waugh. "We thank him for his contribution and wish him all the best."

"I am confident that Jose Miguel's career experience and track record of success in Global Markets will make for a seamless transition of management and ensure further business success for us in Chile," said Pablo Calderini.

Deutsche Bank has a strong presence in Chile. The bank executed the three largest and most complex M&A transactions ever done in Chile and is a leading equity house, having led more than $4.8 billion in block trades and IPOs since 1995. In addition, the firm leads the local and international debt capital markets and placed the largest UF-denominated bond in the local market on behalf of a Chilean corporate client.

For further information, please call:

Michele Allison 1-212-250-4864
Media Relations
About Deutsche Bank

With Euro 993 billion in assets and 63,427 employees, Deutsche Bank <NYSE: DB> offers unparalleled financial services in 74 countries throughout the world. Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private and business banking franchise in Germany and other selected countries in Continental Europe.