Deutsche Asset Management Launches Enhanced Stable Value Fund

Business Wire, March 9, 2006

NEW YORK -- Deutsche Asset Management (DeAM) today announced the launch of its enhanced stable value fund (The Fund). The Fund's strategy is to combine the advantages of a stable value portfolio, generally a large allocation within defined contribution plans, with the portable alpha capabilities of the Quantitative Strategy Group's integrated Global Alpha Platform (iGAP). The initial investor is a large corporate client with $610 million invested.

"Like many firms today, the client was looking for a prudent way to enhance the long-term performance for its defined contribution plan participants," said John Axtell, head of DeAM's Stable Value Group. "We believe the timing for this product is ideal as companies are re-evaluating pension benefits and investment offerings in order to help employees meet their retirement needs."

The Fund provides the potential to enhance yield and return with little added volatility due to a yield-enhancing strategy that has a low correlation to the underlying stable value portfolio. The yield-enhancing component is an overlay strategy that takes relative value positions in major bond and currency markets and employs both quantitative and qualitative market views from DeAM's established, high-performing teams across the globe.

"The iGAP strategy is employed using a well diversified and disciplined value-at-risk modeling approach, and more importantly, has successfully generated positive return (alpha) in each of the last 6 calendar years," added Axtell. "We have had over six years experience in offering the enhanced stable value strategy to the market, and the timing is right to offer it more broadly to our defined contribution clients."

"The iGAP platform is built on adding excess return to our clients' portfolios and the Enhanced Stable Value strategy is just that type of investment solution," said Janet Campagna, Global Head of the Quantitative Strategies Group. "The development of the Enhanced Stable Value Fund is another example of Deutsche Asset Management's ability to create innovative solutions to meet the needs of clients in a changing market."

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 Deutsche Bank

With Euro 993 billion in assets and 63,427 employees, Deutsche Bank offers unparalleled financial services in 74 countries throughout the world. Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private and business banking franchise in Germany and other selected countries in Continental Europe.

www.db.com