DGAP-Adhoc: Deutsche Post sells 29.75 per cent stake in Postbank to Deutsche Bank

Deutsche Bank AG / Acquisition

12.09.2008 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Deutsche Post sells 29.75 per cent stake in Postbank to Deutsche Bank 

Deutsche Bank and Postbank agree close cooperation

Deutsche Post has sold a minority stake of 29.75 per cent in Postbank to
Deutsche Bank for Euro 2.79 bn or Euro 57.25 per share. The acquisition of
this stake is subject to approval by regulatory and anti-trust authorities
and the German Government and will close in the first quarter of 2009. The
consideration for the stake will be paid by Deutsche Bank in cash. Deutsche
Bank intends to fund the acquisition through an equity raising of up to EUR
2.0 bn. Timing and precise composition of the equity raising are subject to
market conditions.

In addition to the minority stake acquisition, Deutsche Post has granted
Deutsche Bank an option to acquire an additional 18.0 per cent of Postbank
for Euro 55.00 per share. This option can be exercised between 12 months
and 36 months after acquisition of the initial 29.75 per cent stake.
Moreover, Deutsche Post has granted Deutsche Bank a right of first refusal
for its remaining Postbank shares.

Deutsche Post has been granted a put option to sell its remaining stake of
20.25 per cent plus one share in Postbank to Deutsche Bank. Deutsche Post
can exercise this option between 21 months and 36 months after acquisition
of the initial 29.75 per cent stake at a price of Euro 42.80 per share.
Deutsche Bank can settle both options either in cash or fully or partially
with its own shares.

Furthermore, Deutsche Bank with its 14 million clients in private and
business banking (thereof 9.7 million in Germany) and Postbank with its
14.5 million clients in Germany have agreed in principle to cooperate in
several areas including the distribution of home finance and investment
products. The cooperation is expected to have substantial revenue potential
for both partners and the companies will finalise details shortly.
DGAP 12.09.2008 
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Language:     English
Issuer:       Deutsche Bank AG
              Theodor-Heuss-Allee 70
              60486 Frankfurt a. M.
              Deutschland
Phone:        +49 (0)69 910-00
Fax:          +49 (0)69 910-38 591
E-mail:       Deutsche.Bank@db.com
Internet:     www.deutsche-bank.de
ISIN:         DE0005140008
WKN:          514000
Indices:      DAX, EURO STOXX 50
Listed:       Regulierter Markt in Berlin, Frankfurt (Prime Standard),
              Hannover, Düsseldorf, Stuttgart, München, Hamburg;
              Terminbörse EUREX; Foreign Exchange(s) NYSE
End of News                                     DGAP News-Service
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