Holger Naumann New COO Europe of the DWS / Georg Allendorf New Head of RREEF Germany

Frankfurt am Main, Holger Naumann (47) will be appointed as Chief Operating Officer Europe at the DWS within the Asset Management division of the Deutsche Bank in September 2009. Naumann was formerly the Head of RREEF Alternative Investments in Germany since December of 2005. He had already been active in different management positions at the DWS in the ten years before. Naumann had entered into the Deutsche Bank in 1981 and has filled several positions inside the corporation since then.

Georg Allendorf (45) will follow Holger Naumann as Head of RREEF in Germany. He was formerly responsible for the client management in Germany, Austria and Switzerland at RREEF together with the special funds for institutional investors. Georg Allendorf has been a member of the Deutsche Bank since 2003 and is the Vice Chairman of INREV European Association for Investors in Non-listed Real Estate Vehicles since 2007.

Charles B. Leitner, global head of RREEF: “Holger Naumann has successfully repositioned of the open-ended real estate funds in Germany while integrating the German business unit into RREEF’s European and global network. RREEF Germany will benefit from Georg Allendorf’s years of experience as a real estate and infrastructure investment professional, and continue to be an integral part of RREEF’s global platform.”

About Deutsche Asset Management
With approximately $646.07 billion in assets under management globally (as of 30 June 2009), Deutsche Bank’s Asset Management division is one of the world’s leading investment management organizations, not just in size, but in quality and breadth of investment products, performance and client service. The Asset Management division provides a broad range of investment management products across the risk/return spectrum.