Deutsche Bank reported income before income taxes for the first quarter 2006 of € 2.6 billion, up 46% versus € 1.8 billion in the first quarter 2005. Net income was € 1.7 billion, up 55% versus € 1.1 billion in the prior year first quarter. Reported pre-tax return on average active equity was 40%, up ten percentage points versus 30% in the first quarter 2005. Pre-tax return on average active equity per our target definition, which excludes restructuring expenses and substantial gains from sale of industrial holdings, was also 40%, up by seven percentage points versus the first quarter 2005. Diluted earnings per share were € 3.30, up 58% versus the first quarter 2005.