Deutsche Bank launches independent investigation

Deutsche Bank's executive management learned about possible violations which occurred in past years of the bank's internal procedures or legal requirements in connection with activities involving the bank's corporate security department. Dr. Josef Ackermann, the Chairman of the Management Board, and the Global Head of Group Audit, in coordination with the Audit Committee of the Supervisory Board, immediately retained a leading law firm to conduct an independent investigation. It was ascertained to date suggest that only a few breaches may have occurred and that none of them involved customer information. The Management Board and the Supervisory Board have been briefed on the current status of the independent investigation, which is ongoing. The bank has also informed the German Federal Financial Supervisory Authority BaFin which decided to initiate its own investigation. Should the investigations establish that internal procedures of the bank or applicable laws have been violated, that reporting or monitoring obligations have been breached, or that any other form of inappropriate behavior occurred, the bank will implement corrective action as appropriate when the final reports have been received.