Directors´Dealings

Each transaction by a member of the Board of Managing Directors or a member of the Supervisory Board or persons related to them in shares of Deutsche Bank AG or derivatives on these shares is announced without delay on the Deutsche Bank’s homepage . The transactions since January 1, 2003, were as follows (until February 29, 2004):

 
Members of the Board of Managing Directors
Date of Transaction Name Title of the Security WKN/ISIN Quantity and Type of Price
or Right/Derivative Nominal Transaction in €
February 17, 2003 Tessen von Heydebreck DB Shares 514000 10,000 Buy 41.7
August 1, 2003 Clemens Börsig DB Shares 514000 10,000 Buy 56
 
Members of the Supervisory Board
Date of Transaction Name Title of the Security WKN/ISIN Quantity and Type of Price
or Right/Derivative Nominal Transaction in €
May 8, 2003 Klaus Funk DB Shares 514000 50 Buy 49.65
November 3, 2003 Ulrich Kaufmann DB Shares 514000 200 Sell 57.53
December 11, 2003 Heidrun Förster DB Shares 514000 20 Buy1 54.45
December 11, 2003 Klaus Funk DB Shares 514000 20 Buy1 54.45
December 11, 2003 Rolf Hunck DB Shares 514000 20 Buy1 54.45
December 11, 2003 Ulrich Kaufmann DB Shares 514000 20 Buy1 54.45
December 11, 2003 Henriette Mark DB Shares 514000 20 Buy1 54.45
December 11, 2003 Gabriele Platscher DB Shares 514000 20 Buy1 54.45
December 11, 2003 Leo Wunderlich DB Shares 514000 20 Buy1 54.45
February 6, 2004 Rolf Hunck DB Shares 514000 450 Sell 65.38
 
1 Purchased within the employees’ share program Global Share 2003. Additional five options to purchase one share for each share purchased were also received. Exercisable after January 1, 2006 at the earliest.
 
Others persons required to report
Date of Transaction Name Title of the Security WKN/ISIN Quantity and Type of Price
or Right/Derivative Nominal Transaction in €
April 2, 2003 Eghard Woeste DB Shares 514000 700 Buy 39.2
August 1, 2003 Gerhild Börsig DB Shares 514000 1,000 Buy 56