Board of Managing Directors. As of February 29, 2004, the individual share ownership (including options to purchase our shares or rights related to our shares) of the current members of the Board of Managing Directors was as follows:
| Members of the Board | Number of Shares | Number of Options | Number of Partnership | Number of |
| of Managing Directors | Appreciation Rights | DB Equity Units | ||
| Dr. Josef Ackermann | 57,000 | 157,795 | 157,795 | 118,342 |
| Dr. Clemens Börsig | 10,2501 | 63,684 | 63,684 | 57,402 |
| Dr. Tessen von Heydebreck | 10,000 | 64,919 | 64,919 | 58,653 |
| Hermann-Josef Lamberti | 21,558 | 64,919 | 64,919 | 58,653 |
| 1 | Excluding 150 Deutsche Bank shares, pooled in a family held partnership as defined under the German civil code, in which Dr. Clemens Börsig has an interest of less than 25%. |
The current members of our Board of Managing Directors held an aggregate of 98,808 of our shares on February 29, 2004, amounting to 0.017% of our share capital on that date. No member of the Board of Managing Directors beneficially owns 1% or more of our outstanding shares.
The current members of our Board of Managing Directors also held 293,049 DB Equity Units, 351,317 Performance Options and 351,317 Partnership Appreciation Rights. 58,827 of the DB Equity Units vested on February 1, 2004 and will be delivered on August 1, 2005 and 14,707 of the DB Equity Units will vest and be delivered on August 1, 2005. 95,853 of the DB Equity Units will vest on February 1, 2005 and will be delivered on August 1, 2006 and 23,963 of the DB Equity Units will vest and be delivered on August 1, 2006. 79,759 of the DB Equity Units will vest on February 1, 2006 and will be delivered on August 1, 2007 and 19,940 of the DB Equity Units will vest and be delivered on August 1, 2007.
The table below shows information regarding the 351,317 Performance Options held by our current members of our Board of Managing Directors as of February 29, 2004.
| Number of | Strike Price | Vesting Date | Expiration Date |
| Performance Options | in € | ||
| 32,772 | 89.96 | February 1, 2004 | February 1, 2008 |
| 32,772 | 89.96 | February 1, 2005 | February 1, 2008 |
| 32,772 | 89.96 | February 1, 2006 | February 1, 2008 |
| 138,121 | 47.53 | February 1, 2005 | February 1, 2009 |
| 38,293 | 76.61 | February 1, 2006 | February 1, 2010 |
| 38,293 | 76.61 | February 1, 2007 | February 1, 2010 |
| 38,293 | 76.61 | February 1, 2008 | February 1, 2010 |
The vesting of the Partnership Appreciation Rights will occur at the same time and to the same extent as the vesting of Performance Options.
For more information on the deferred share awards discussed above, see Note [20] to the consolidated financial statements.