Deutsche Asset Management Appoints Eric Kirsch Global Head of Insurance Asset Management

Business Wire, March 8, 2005

NEW YORK -- Deutsche Asset Management (DeAM) today announced the appointment of Eric Kirsch as Global Head of Insurance Asset Management. He will be responsible for ensuring all client's needs are met while successfully growing the Insurance Asset Management franchise. In addition Eric will oversee the integration of the Insurance Asset Management business into one global structure, including Fixed Income Management, the Insurance Advisory Services group, and Client Servicing. He is based in New York and will report to Kevin Parker, Global Head of Deutsche Asset Management. DeAM is the world's largest third-party manager of insurance general account assets*.

"As insurance companies continue to grow, their ability to find alpha through sophisticated investment solutions will be a key driver of their success," said Kevin Parker, Global Head of Deutsche Asset Management. "With a strong global presence and a full range of investment solutions covering all asset classes from fixed income to alternatives, Deutsche Asset Management is uniquely positioned to meet their investment needs. Eric's investment background, experience with our insurance clientele, and leadership skills will enable Deutsche Asset Management to continue to be the world leader in insurance asset management."

With 25 years of investment experience, Eric joined the company in 1980, and has covered the fixed income industry for 17 years. Most recently, he was Head of DeAM's Fixed Income Management Team for New York and Boston, responsible for Insurance, Stable Value, Enhanced, Mutual Funds, Municipal and Cash Management Groups. Eric will also continue in his current role until a successor is appointed.

Eric received a B.B.A from Baruch College and an M.B.A. from Pace University. He holds a Chartered Financial Analyst designation and is a member of the New York Society of Security Analysts (NYSSA).

Deutsche Asset Management (DeAM) is the global asset management business of Deutsche Bank AG, with AUM of US$730 billion. DeAM is one of the world's leading investment management organizations in terms of the quality and breadth of investment products, asset management expertise and client service. DeAM provides asset management capabilities to a variety of clients worldwide including foundations, non-profit organizations, public and private superannuation funds, high-net-worth individuals and retail investors.

* Insurance Finance & Investment 7/19/04

Deutsche Asset Management 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 Asset Management Investment Services Ltd., Deutsche Investment Management Americas Inc. and Scudder Trust Company.