Drew Fung Joins RREEF as Head of High Yield Debt Investments

Fung will lead and expand the existing team which will specializein providing investment options in a wide variety of structured debtinvestments including mezzanine, B-notes, preferred equity and bridgeloans. His previous position was overseeing subordinate debtproduction at CWCapital, and prior to that he was with Lend Lease.

Thanh Bui also has joined the team as a Vice President, reportingto Fung. Based in New York, she will help lead origination andproduction efforts for the group. Prior to joining RREEF, Bui was withCWCapital where she was responsible for originating, structuring andunderwriting high yield debt investments.

"RREEF has been offering investors securitized products forseveral years, primarily in the form of public securities andmezzanine debt funds," said Hughes. "Drew's extensive experience,combined with RREEF's broader platform, will allow us to better serveour clients' investment needs."

About RREEF

RREEF is the real estate investment management arm of DeutscheAsset Management, the global investment management business ofDeutsche Bank. RREEF acquires and manages investments in commercialand residential property, real estate securities, and infrastructureinvestments including energy and transportation distribution assets onbehalf of its institutional and private clients worldwide. Its productoffering is global and comprehensive, including core, value-enhancedand high yield property investments as well as investments in publiclytraded real estate securities, and infrastructure investmentsincluding transportation and energy distribution assets. Headquarteredin New York, RREEF employs more than 2,000 real estate professionalsin 17 cities around the world. The combined group has EUR 53 billionin assets under management worldwide as of September 30, 2005.

About Deutsche Asset Management

Deutsche Asset Management (DeAM) is the global asset managementbusiness of Deutsche Bank AG, with AUM of EUR 553 billion as ofSeptember 30, 2005. DeAM is one of the world's leading investmentmanagement organizations. DeAM provides asset management capabilitiesto a variety of clients worldwide including foundations, non-profitorganizations, public and private superannuation funds, high-net-worthindividuals and retail investors.

About Deutsche Bank

With Euro 972 billion in assets as of September 30, 2005 and63,751 employees, Deutsche Bank offers unparalleled financial servicesin 74 countries throughout the world. Deutsche Bank competes to be theleading global provider of financial solutions for demanding clientscreating exceptional value for its shareholders and people.

Deutsche Bank ranks among the global leaders in corporate bankingand securities, transaction banking, asset management, and privatewealth management, and has a significant private and business bankingfranchise in Germany and other selected countries in ContinentalEurope.

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