Deutsche Bank Expands Commercial Real Estate Business In Asia-Pacific; Frank Forelle Joins as Head of Commercial Real Estate, Asia-Pacific

In his new role, Forelle will lead the expansion of the bank'ssuccessful CRE operations in Japan to other markets in theAsia-Pacific region, including China and Australia. Previously, he wasa Managing Director and Head of Commercial Mortgage-Backed Securitiesin North America for ABN AMRO, where he worked for seven years. Priorto that, Forelle worked at Citicorp Securities, Inc. for six years,where he was Head of Commercial Mortgage Sales and Trading.

In Shanghai, Deutsche Bank hired Greg Wells as a Director and Headof CRE, China. Wells joined the bank from Paul, Hastings, Janofsky &Walker LLP, where he established and developed the law firm's realestate practice in mainland China, focusing on the acquisition,structuring and financing of real estate assets. Prior to that, Wellswas an Executive Director at Morgan Stanley Japan Limited where he wasChief Financial Officer for the firm's Asian real estate funds.

In addition, Tony Moussa will become Head of CRE, Australia, basedin Sydney. Moussa previously worked for Deutsche Bank's StructuredProducts group in the region. Sunil Madan will continue as Head ofCRE, Japan, based in Tokyo.

"The Asia-Pacific region is generating some of the world's mostinteresting opportunities in commercial real estate, and we expect itto be a growth engine for years to come," said Vaccaro. "We seetremendous potential to leverage our strengths in real estate and ourplatform in the region to support our clients' growth in thesemarkets."

Announcing the appointment, Lee Zhang said, "Frank will be able tocontribute significantly towards capturing the strong growthopportunities in the region originating from clients seeking torealize regional and global ambitions in this sector."

Jonathan Paul added, "Frank will add additional depth to ouralready strong investment banking presence. His appointmentunderscores our commitment to participating in the real estate sectorthroughout Asia."

Forelle earned a BS degree in finance and a JD degree with aconcentration in real estate and business from Syracuse University.Wells earned a BA degree from Wichita State University and a JD degreefrom Southern Methodist University.

Deutsche Bank was voted number one in Global Commercial RealEstate (CRE) Banking in the inaugural Euromoney Awards for Excellencein Real Estate 2005. Deutsche Bank was also voted number one in CREBanking in the United States and fourth in Western Europe. In additionto its CRE accolades, Deutsche Bank was awarded third place for GlobalInvestment Banking and fifth for Global Investment Banking for Equityrelated issues, Global Investment Management and Investment Managementin Asia.

About Deutsche Bank

With Euro 972 billion in assets and 63,751 employees, DeutscheBank (NYSE: DB) offers unparalleled financial services in 74 countriesthroughout the world. Deutsche Bank competes to be the leading globalprovider of financial solutions for demanding clients creatingexceptional value for its shareholders and people.

Deutsche Bank ranks among the global leaders in corporate bankingand securities, transaction banking, asset management, and privatewealth management, and has a significant private and business bankingfranchise in Germany and other selected countries in ContinentalEurope.

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