Deutsche Asset Management Appoints Narendra Singh to Quantitative Strategies Research Team

Deutsche Bank’s Asset Management (DeAM) division today announced that Narendra Singh has joined its Quantitative Strategies Group as a Director and Senior Research Analyst. Singh reports to Ronghui (Daniel) Tao, a Director and Head of Quantitative Global Macro and Currency Research. Based in New York, Singh will join the Global Macro and Currency team and will be responsible for further growing the breadth of alpha sources within the Quantitative Strategies Group’s Global Tactical Asset Allocation platform, iGAP (integrated Global Alpha Platform). Singh has nearly 18 years of financial services experience, most recently as a Director and Global Equity Strategist with Citigroup Investment Research. Prior to Citigroup, he spent several years as a Quantitative Analyst in Global Emerging Markets with Morgan Stanley. Before that he was a Senior Economist at The WEFA Group. Singh earned a BA in Mathematics from Delhi University and a MA in Economics from the Delhi School of Economics. The iGAP Global Tactical Asset Allocation Platform seeks to add uncorrelated excess return to portfolios by taking advantage of inefficiencies within and across country equity, country bond, yield curve, commodity and currency markets around the world. The Developed iGAP 20% alpha strategy has delivered 51.38% returns gross of fees over the last 12 months and 44.12% returns gross of fees annualized since inception in April 20061. "We are adding research staff based on the strong success we have had in this strategy,” said Janet Campagna, Managing Director and Global Head of Quantitative Strategies at Deutsche Asset Management. "We are constantly looking to broaden our research efforts and deepen the alpha sources in our strategies and bringing Narendra on board is indicative of our continued focus on hiring the best minds in the industry.” DeAM’s Quantitative Strategies Group manages quantitatively based strategies and assists clients with investment solutions leveraging global expertise in quantitative analysis, research, portfolio management and infrastructure. The Group manages assets across multiple strategies, including Global Tactical Asset Allocation (GTAA)/Global Macro Currency, Portable Alpha, 120/20 long/short, US, International and Global Equity, Tax Managed Equity, Multi, and Strategic Asset Allocation/Lifecycle strategies. The group has grown assets2 from $2 billion in 1999 to over $95 billion as of June 30, 2007. About Deutsche Bank Deutsche Bank (NYSE: DB) 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 73,114 employees in 75 countries, Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people. About Deutsche Asset Management With approximately EUR 553.01 billion in assets under management globally (as of 3/31/07), 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. DeAM Developed iGAP 20% Alpha Composite Returns     1-Year Return*   3-Year Return*   5-Year Return*   Since Inception* DeAM Developed iGAP 20% Alpha Composite                 Gross of Fees   51.38%   N/A   N/A   44.12% Net of Fees   48.36%   N/A   N/A   41.24% Citi Three-Month Treasury Bill**   5.07%   N/A   N/A   4.99% *All returns are as of June 30, 2007. The inception dates for the Developed iGAP 20% Alpha Composite is April 1, 2006. **The benchmark for the Deutsche Asset Management Alpha Developed iGAP 20% Alpha Composite is the Citigroup Three-Month T-Bill Index. The Index is an unmanaged index that is generally representative of Three-Month Treasury bills; it consists of an average of the last Three-Month US Treasury Bill issues. All returns are US Dollar denominated. The Developed iGAP 20% Alpha Composite strategy seeks to add 20% excess return on top of the Citigroup Three-Month T-Bill Index. The composite contains all discretionary accounts of $5 million or more. The performance results are calculated for each strategy on a trade-dated basis with dividend and other earnings reinvested. Past performance is no guarantee of future results and may differ in future time periods. Deutsche Asset Management Americas is a division of Deutsche Asset Management worldwide and includes all portfolios (except nontraditional assets) managed for the Firm by Deutsche Bank Trust Company Americas, Deutsche Asset Management Canada Ltd., Deutsche Investment Management Americas Inc. and DWS Trust Company. DeAM claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® has not been involved in the preparation or review of this report. To obtain a presentation that complies with the requirements of GIPS standards and/or a list and description of all firm composites, please call 212-454-3289 (JS). NFA Advisor Disclosure: The integrated Global Alpha Platform (iGAP) is managed by Deutsche Bank Trust Company Americas (DBTCA), a ‘bank’ as defined under Section 202 (a)(2) of the Investment Advisers Act of 1940 (the Act) which is exempt from registration as an Investment Advisor under the Act. Where required by Commodity Exchange Act regulations, iGAP is jointly managed by DBTCA and DB Capital Advisers Inc., a registered commodity trading adviser. Futures and currency forward trading involve substantial risk of loss. You may lose more than the amount committed as margin for a futures transaction and more than the amount of your futures account. Futures and currency forward trading are volatile and highly leveraged. Use of leverage can lead to increased losses as well as gains, Futures are exchange-traded contracts governed in the United States by federal regulations. Under certain market conditions, it may be difficult or impossible to liquidate an exchange-traded futures position. The commodity trading advisor may engage in trading foreign futures for your account. Transactions on markets located outside the United States, including markets formally linked to a United States market, may be subject to regulations which offer different or diminished protection. Further, United States regulatory authorities may be unable to compel enforcement the rules of regulatory authorities or markets in non-United States jurisdictions where your transactions may be effected. Currency forward contracts are entered into between private parties off-exchange and are thus free from exchange regulations. Such trading between qualified parties is not regulated by any U.S. government agency and is not guaranteed by an exchange or clearinghouse. Therefore, these contracts involve the risk of a counterparty’s creditworthiness. Any nonperformance by a counterparty, whether due to insolvency, bankruptcy or other causes, could subject you to substantial losses. A currency forward contract, unlike an exchange-traded futures contract, can only be offset prior to maturity by agreement of both parties to the contract. Additional Commodity Future Trading Commission (CFTC) risk disclosure will be given to all clients upon inception of any futures program, when required by CFTC. 1 Please see composite information and disclosures at end of release. 2 Includes assets under management, assets under administration and notional asset value.