Deutsche Asset Management (DeAM) today announced the appointment of Charles Simeon as a Director within DB Absolute Return Strategies, DeAMs global fiduciary hedge fund management business.DB Absolute Return Strategies is comprised of DB Advisors Capital Management, its single-manager and multi-strategy business and Topiary Fund Management, its fund of funds business.

Simeon joins the firm from Optimal Investment Services in Geneva.From 2001 to 2005, he was a Managing Director at X-Border Advisors in Switzerland, a third-party marketing platform which he founded.Prior to that, Simeon held traditional and alternative investment sales positions covering institutional, high-net-worth advisor and family office clients.

Simeon will be responsible for sales of all DB Absolute Return Strategies products in Germany, Austria, Switzerland and Scandinavia. He will be based in Switzerland and will report to Tim Sweeting, a Managing Director and Head of Sales for Europe and the Middle East.

Mark Bolton, Head of DB Absolute Return Strategies for Europe, Asia and the Middle East commented, This appointment reflects the continued expansion of our distribution capabilities across Europe.As we develop our sales and client relations team, we are in a stronger position to introduce our broad product platform of hedge funds and fund of funds to a wider range of European investors.

Elaine Bartleet+44 (20) 754 54907

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With Euro 1,058 billion in assets and 65,435 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Asset Management is the global asset management business of Deutsche Bank AG, with AUM of US$662 billion (as of 6/30/2006). It is one of the worlds leading investment management organizations in terms of the quality and breadth of investment products, asset management expertise and client service. DeAM provides asset management capabilities to a variety of clients worldwide including foundations, non-profit organizations, public and private superannuation funds, high-net-worth individuals and retail investors.

DB Absolute Return Strategies (DB ARS) is the global fiduciary hedge fund management business of Deutsche Asset Management.With a team of over 150 employees, DB ARS is one of the most knowledgeable hedge fund groups in the industry.It currently manages US$7.7 billion in hedge fund assets (30 June 2006). With offices in New York, London, Bahrain, Singapore and Tokyo, DB ARS serves the investment needs of institutions and high-net-worth investors.DB ARS consists of Topiary Fund Management, its fund of funds business, and DB Advisors Capital Management, its single-manager and multi-strategy hedge fund business.