Board of Managing Directors. As of February 28, 2005, the current members of our Board of Managing Directors held the following numbers of our shares, DB Equity Units and Performance Options:
| Members of the Board of Managing Directors | Number of Shares | Number of DB Equity Units | Number of Performance Options |
| Dr. Josef Ackermann | 114,420 | 177,499 | 100,374 |
| Dr. Clemens Börsig | 10,2501 | 83,921 | 63,684 |
| Dr. Tessen von Heydebreck | 10,000 | 85,172 | 64,919 |
| Hermann-Josef Lamberti | 21,558 | 85,172 | 64,919 |
| Total | 156,228 | 431,764 | 293,896 |
| 1 | Excluding 150 Deutsche Bank shares, pooled in a family held partnership, 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 156,228 of our shares on February 28, 2005, amounting to approximately 0.03% of our outstanding share capital on that date. No member of the Board of Managing Directors beneficially owns 1% or more of our outstanding shares.
The table below shows information regarding the 431,764 DB Equity Units held by the current members of our Board of Managing Directors as of February 28, 2005:
| Number of DB Equity Units | Vesting Date | Delivery Date | |
| 58,827 | February 1, 2004 | August 1, 2005 | |
| 14,707 | August 1, 2005 | August 1, 2005 | |
| 95,853 | February 1, 2005 | August 1, 2006 | |
| 23,963 | August 1, 2006 | August 1, 2006 | |
| 79,759 | February 1, 2006 | August 1, 2007 | |
| 19,940 | August 1, 2007 | August 1, 2007 | |
| 110,970 | February 1, 2007 | August 1, 2008 | |
| 27,743 | August 1, 2008 | August 1, 2008 | |
The table below shows information regarding the 293,896 Performance Options held by the current members of our Board of Managing Directors as of February 28, 2005. All Performance Options were granted under the DB Global Partnership Plan. Each Performance Option is accompanied by a Partnership Appreciation Right.
| Number of Performance Options | Strike Price in € |
Vesting Date | Expiration Date |
| 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 |
| 80,700 | 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 |
For more information on DB Equity Units, Performance Options and Partnership Appreciation Rights, all of which are granted under the DB Global Partnership Plan, see Note [20] to the consolidated financial statements.
