Deutsche Asset Management Strengthens US Sales and Marketing Team for DB Absolute Return Strategies

Business Wire, April 12, 2006

NEW YORK -- Deutsche Asset Management (DeAm) today announced the appointments of Matthew Lugar as Director and John Stimpson as Vice President within DB Absolute Return Strategies, DeAm's global hedge fund management business. DB Absolute Return Strategies is comprised of DB Advisors Capital Management, its single-manager/multi-strategy business and Topiary Fund Management, its fund of funds business.

Lugar will join the sales team for DB Advisors Capital Management in the US and will target family offices, fund of funds, endowments and foundations. Stimpson will focus on sales to US institutions for Topiary Fund Management. Both Lugar and Stimpson are based in New York and report to Brian Rice, Managing Director and Head of Product Management and Business Development in the Americas for DB Absolute Return Strategies.

"Strengthening and expanding our external distribution effort is a key strategic focus for us," said Rick Goldsmith, Global Head of DB Absolute Return Strategies. "Adding experienced sales and marketing professionals like Matthew and John will ensure that we increase our presence and visibility in key markets and enable us to introduce our high-quality products to a wide range of investor classes."

Lugar joins the firm from Schafer Capital Management, LLC, where he was Associate Portfolio Manager responsible for Business Strategy and Development. In his role he developed and implemented a business and distribution strategy as well as conducted extensive portfolio research and investment idea generation. Prior to that, he was a Principal at MAL Partners, where he established alternative investment syndications for various client channels. Lugar holds a BS in Management Science from Virginia Polytechnic Institute and State University.

Stimpson joins the firm from The Torrey Funds, where he was Vice President of Sales and Marketing. In that role, he was responsible for establishing and developing relationships within the institutional consulting community and cultivating institutional relationships. He holds a BA in Political Science from Villanova University and an MBA in Finance and Marketing from Columbia Business School.

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 992 billion in assets and 63,427 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.

www.db.com

About Deutsche Asset Management

Deutsche Asset Management is the global asset management business of Deutsche Bank AG, with AUM of US$630 billion (as of 12/31/05). It 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.

About DB Absolute Return Strategies

DB Absolute Return Strategies (DB ARS) is the global fiduciary hedge fund management business of Deutsche Asset Management. With a team of over 150 employees, DB ARS is one of the most knowledgeable hedge fund groups in the industry. It currently manages US$7.8 billion in hedge fund assets (as of 1 March 2006). With offices in New York, London, Frankfurt, Bahrain, Singapore and Tokyo, DB ARS serves the investment needs of institutions and high-net-worth investors. DB ARS consists of Topiary Fund Management, its fund of funds business, and DB Advisors Capital Management, its single-manager hedge fund business.

www.db.com/ars