SYDNEY, 29 August, 2002

Deutsche Bank today announced the creation of a new regional role with the appointment of Stephen Burns to the role of Head of Property, Asia Pacific. Mr Burns, previously Head of ECM Australia will remain in Sydney. Chris Bedingfield will continue as Head of the Australian Property team reporting to Mr Burns.

Chum Darvall, CEO Australia & New Zealand said, "The creation of this position shows the growing importance of the Property sector in the Asia Pacific region. Listed property trusts fared better than almost any other investment avenue in 2001-2002 and with Australia having one of the more sophisticated markets it is relevant to build upon the team's expertise by extending their boundaries. Stephen Burns is ideally suited to take on this new regional responsibility."

Mr Burns is a veteran of the property sector and joined Deutsche Bank in 1998 to head the Australian Property team.

Chris Laing, Head of Convertibles, Asia replaces Mr Burns as Head of Equity Capital Markets Australia.

Mr Laing has worked in the firm's Equity Capital Markets business in London, New York and most recently Hong Kong. Mr Laing has significant experience in global equity and equity-linked transactions across many markets.

Scott Perkins, Co-Head of Global Corporate Finance Australia & New Zealand said "Chris Laing has recently spent considerable time working with Australian clients and his appointment in Australia will further enhance Deutsche Bank's presence and build on the successes achieved over the past two years."

For further information, please call:

Deutsche Bank

Kate Abrahams
612 9258 2416
Press Office

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With roughly 900 billion in assets and approximately 84,500 employees, Deutsche Bank offers its 12 million clients unparalleled financial services in 75 countries throughout the world. The Bank aspires to be a leading global provider of integrated financial solutions for clients and the pre-eminent bank in Germany generating exceptional value for its shareholders and people. 2 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 & business banking franchise in Germany and other selected countries in Continental Europe.


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