May 9, 2006

Zieglmeier named Head of Institutional Client Relationship Management

Deutsche Asset Management (DeAM) announced today that Elizabeth Zieglmeier has been appointed Head of Client Relationship Management for Deutsche Asset Management's Institutional business in North America.

In her new role, Zieglmeier will be responsible for managing existing client relationships as well as developing new ones, all with the goal of ensuring that clients receive expert consultation and the highest levels of service.

"Elizabeth's strong client relationship background and vast experience enhances our ability to provide our clients with superior levels of service and advice," said Roelfien Kuijpers, DeAM's Global Head of Institutional Business.

Zieglmeier brings extensive experience in relationship management to DeAM's Institutional business. She began her career at Deutsche Bank in 1989. She first joined the Global Banking division, where she was responsible for relationship management in the specialty finance and asset management sectors, before transferring to investment banking in 2002 in a similar role. She joined DeAM's Institutional Sales team in August 2005, focusing on alternative investments.

Based in New York, Zieglmeier will report to Marco Veissid, Head of North America Institutional Sales and Relationship Management.

For further information, please call:

Rohini Pragasam (212) 250 4516
Media Relations

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 1,035 billion in assets and 64,103 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 (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.