RREEF Further Strengthens North America Team

    NEW YORK, December 3 /CNW/ - RREEF North America, a part of RREEF
Alternative Investments, the global alternatives asset management business of
Deutsche Bank's Asset Management division, today announced the appointment of
Richard B. Putnam as Managing Director in the Acquisitions group and Stephen
W. Lekki as Director in Portfolio Management. Putnam will report to Brian
McAuliffe, Managing Director and Head of Acquisitions, North America, and
Lekki will report to Peter Feinberg, Managing Director and Head of Portfolio
Management, North America.

    Putnam previously was an Executive Director with Cushman & Wakefield
where he was a member of the Capital Markets Group and pursued investment
sales in Southern California. He will be based in RREEF's Costa Mesa, CA,
office and will be responsible for acquiring office, industrial and retail
core, opportunistic and development opportunities in the Los Angeles County
and Orange County markets.

    Lekki previously was Vice President and Portfolio Manager with AMB
Property Corporation where he helped expand their industrial holdings
throughout North America and Asia. He will be based in RREEF's San Francisco
office and will be responsible for managing the CalWest industrial portfolio.

    "These individuals bring strength and talent to the organization, as well
as a commitment to maintaining the highest integrity in our relationships with
our clients," said Feinberg.

    Putnam earned his MBA from the University of California at Los Angeles
Graduate School of Management and his BA from Stanford University. Lekki
earned his BA from the University of California at Los Angeles.

    RREEF North America's activities include real estate and infrastructure
private and public market equity investments ranging from core investments to
higher return/higher risk holdings, including development. Headquartered in
San Francisco, RREEF North America has 86 property management offices
nationwide and property acquisitions offices in San Francisco, Chicago and New

    About RREEF Real Estate

    RREEF Real Estate is part of RREEF Alternative Investments, the global
alternative investment management business of Deutsche Bank's Asset Management
division. RREEF Alternative Investments consists of four businesses: Real
Estate, Infrastructure, Private Equity and Hedge Funds. Headquartered in New
York, RREEF Alternative Investments employs more than 1,400 investment
professionals in 15 cities around the world to help investors meet a wide
range of objectives - from diversification, to preservation of capital, to
long-term performance. RREEF has $83.5 billion in assets under management
worldwide as of 30 September 2007.

    About Deutsche Bank

    Deutsche Bank (NYSE:   DB) 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 77,920 employees in 75 countries, Deutsche Bank
competes to be the leading global provider of financial solutions for
demanding clients creating exceptional value for its shareholders and people.

    Deutsche Bank Securities Inc., member NYSE, FINRA and SIPC, is the
investment banking and securities arm of Deutsche Bank AG in the United

    About Deutsche Asset Management

    With approximately $798.4 billion in assets under management globally (as
of 30 September 2007), 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.

For further information:

For further information: Deutsche Bank Media Relations John Gallagher,
+1 212-250-4516

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