Deutsche Bank Expands Leveraged Capital Markets Presence in the Americas; David Flannery Appointed Head of Leveraged Capital Markets; Mark Fedorcik Appointed Head of High Yield Capital Markets

Deutsche Bank Securities Inc. today announced it has furtherexpanded its presence in the leveraged capital markets in theAmericas. David Flannery, a Managing Director, has been appointed Headof Leveraged Capital Markets in the Americas, a new role encompassingthe underwriting and distribution of both high yield bonds andsyndicated loans in the region. He will also jointly manage a recentlylaunched Mezzanine Investment business with Elad Shraga, a ManagingDirector in the Global Credit Trading group. Flannery will report toRichard Byrne, Co-Head of Global Capital Markets, and Michael Paasche,Head of Global Leveraged Finance.

Mark Fedorcik, a Managing Director, will succeed Flannery as Headof High Yield Capital Markets, and Daniel Toscano will continue in hisrole as Managing Director and Head of Senior Debt Capital Markets inthe Americas. Both will report to Flannery.

In addition, Lex Malas will join the firm as a Managing Directorin the High Yield Capital Markets group and Brian Goldberg will jointhe group as a Vice President. Both will be based in New York and willreport to Fedorcik.

Malas will join the Bank from UBS Securities, where he was mostrecently a Managing Director in the High Yield Capital Markets groupspecializing in the energy and technology, media andtelecommunications sectors. Before that he worked for 16 years atGoldman, Sachs & Co. in New York and London where his roles includedUS and European high yield origination, leveraged loan trading andnatural resources capital markets. Goldberg joins from Goldman, Sachs& Co. where he worked in the Financing Group.

"Deutsche Bank has enjoyed a leading position in the high yieldand syndicated loan businesses for many years and these leveragedproducts have become the cornerstones of our relationships withfinancial sponsors and corporate clients," said Byrne. "With theseappointments, we are now positioned better than ever to capitalize onour strengths and serve our issuer and investor clients in the rapidlychanging leveraged markets."

"One of the keys to our success in leveraged finance has been avery close working relationship between our loan and bond businesses,which is becoming ever more critical," said Paasche. "The combinationof increasingly complex transactions and significant capital flowsinto both the bond and loan markets continues to blur the linesbetween these asset classes, and we are positioning ourselves toextend our leadership in these markets."

Deutsche Bank

Deutsche Bank (NYSE: DB) is a leading global investment bank witha strong and profitable private clients franchise. A leader in Germanyand Europe, the bank is continuously growing in North America, Asiaand key emerging markets. With Euro 1,035 billion in assets and 64,103employees, Deutsche Bank offers unparalleled financial services in 73countries throughout the world. The bank competes to be the leadingglobal provider of financial solutions for demanding clients creatingexceptional value for its shareholders and people.

Deutsche Bank Securities Inc., member NYSE, NASD and SIPC, is theinvestment banking and securities arm of Deutsche Bank AG in theUnited States.

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