May 14, 2007

Moody´s upgrades Deutsche Bank´s ratings

Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) announced that the rating agency Moody’s Investors Service has upgraded its long-term debt and deposit rating to Aa1 from Aa3 and the Bank Financial Strength Rating to B from B-. Deutsche Bank’s short-term rating was affirmed at P-1 and the outlook at stable.

The rating action follows of the application of Moody’s revised Bank Financial Strength Rating (BFSR) and Joint Default Analysis (JDA) methodologies.

For further information, please call:

Press and Media Relations  
Dr. Kirsten Siersleben  
+49 69 910 38079 

Investor Relations

+49 69 910 35395 (Frankfurt)
+1 212 250 7125 (New York)