The following information is part of the consolidated financial statements as of 31 December 2003, which were audited and issued with an unqualified certificate by KPMG Deutsche Treuhand AG, Wirtschaftprüfungsgesellschaft.

Structure and development of other investments

 
in € m. Equity Method Other Equity Total
Investments Investments
Acquisition cost      
as of Jan 1, 2003 6,220 4,729 10,949
impairment 617 277 894
change in the group of consolidated companies (133) (289) (422)
effects of exchange rate changes (174) (386) (560)
additions 2,766 148 2,914
transfers 57 (57)
disposals 2,076 1,299 3,375
as of Dec 31, 2003 6,043 2,569 8,612
Amortization      
as of Jan 1, 2003 181 181
change in the group of consolidated companies
effects of exchange rate changes 27 27
additions 1 1
transfers
disposals 167 167
as of Dec 31, 2003 42 42
Book values      
as of Dec 31, 2003 6,001 2,569 8,570

Shareholdings in banks held at equity amounted to € 2,544 million (2002: € 2,227 million). Other equity investments included participating interests in the amount of € 1,133 million (2002: € 2,525 million), of which € 12 million (2002: € 69 million) related to investments in banks.

The list of shareholdings is deposited with the Commercial Register in Frankfurt am Main, but can also be ordered free of charge.

Loans from and advances and liabilities to participating interests and investments held at equity
Loans and advances to participating interests and investments held at equity, trading assets related to these investees as well as debt securities available for sale issued by these investees amounted to € 5,979 million (2002: € 8,024 million).

Liabilities to participating interests and investments held at equity as well as trading liabilities related to these investees were € 1,869 million (2002: € 2,778 million).