February 20, 2007

Keith Babbittt joins Deutsche Bank as Co-Head of Securities Lending in North America

Deutsche Bank Securities today announced that Keith Babbitt has joined as a Managing Director and Co-Head of Securities Lending, Global Prime Finance, North America, within the bank’s Global Markets division. Babbitt joins Deutsche Bank after 23 years at Merrill Lynch, where he was most recently Head of North American Securities Lending for 15 years.

Babbitt will work closely with Paul Busby, who has been promoted to Managing Director and Co-Head of Securities Lending, within Global Prime Finance, North America. Busby has led securities lending in North America for the past three years and has been instrumental in the progress the group has made in enhancing it's offerings to hedge fund clients through its Global Prime Finance business.

Both Busby and Babbitt are based in New York and report to Anthony Byrne, Head of Securities Lending, and Mark Haas, Head of Global Prime Finance, North America.

"We are excited to add Keith to our rapidly growing business and are extremely confident that the leadership and client commitment he has shown throughout his extensive career will be a great addition to Paul and the existing team," said Byrne.

For further information, please call:

Renee Calabro        
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 1,128 billion in assets and 68,849 employees in 73 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.