Deutsche Asset Management Hires Frank Klein as Global Head of Institutional Product Management and Development

Business Wire, April 4, 2007

FRANKFURT, Germany & NEW YORK -- Frank Klein has joined Deutsche Bank's Asset Management division (DeAM) as a Managing Director and Global Head of Institutional Product Management and Development. Klein is based in Frankfurt and reports to Roelfien Kuijpers, Global Head of the Institutional Business. In his new role, Klein will strengthen the Institutional Product Management and Development group globally focusing on distribution strategy and a product line that reflects the diversity and innovativeness of DeAM's investment solutions.

"Frank and his team will ensure that our products are aligned with the needs of our clients and the major trends shaping the industry," said Kuijpers.

Klein has nearly 20 years of experience in asset management, spanning portfolio management, equity products, and equity research. He joins the firm from Sal. Oppenheim where he was Director of International Distribution. He began his career at Deutsche Bank where he became an equity portfolio manager for international institutional clients with DeAM. Klein holds a diploma from the Banking Academy in Cologne.

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 EUR 1,126 billion in assets and 68,849 employees in 73 countries, Deutsche Bank offers unparalleled financial services 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

With approximately Euro 543 billion in assets under management globally (as of 12/31/06), Deutsche Bank's Asset Management division 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. The Asset Management division provides a broad range of investment management products across the risk/return spectrum.