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s a free float-adjusted market capitalization index that is designed to measure developed market equity performance in Europe. As of May 2005, the MSCI Europe Index consisted of the following 16 developed market country indices: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy,
nformation The asset allocations described herein are formulated by the Regional Investment Committee (RIC) within Deutsche Bank Wealth Management (Deutsche Bank WM) and may utilize the following asset class components: U.S. large cap equity, U.S. small cap equity, Europe equity, Japan equity, Pacific ex-Japan
iliates of Deutsche Bank. "Deutsche Bank" means Deutsche Bank AG and its affiliated companies, as the context requires. Wealth Management refers to Deutsche Bank's wealth management activities for highnet-worth clients around the world. Deutsche Bank Wealth Management 9 EFTA01477954 Growth Tactical alloca
no sales charges and no conflict of interest. Deutsche Bank products are excluded from calculation of the billable assets for advisory fee charge. No Deutsche Bank commission charged on trades. Commission on trades are only charged by the counterparty. Fees are subject to change without notice. Further inform
isor regarding any tax matters addressed herein based on its particular circumstances. All trademarks and service marks on this statement belong to Deutsche Bank AG or its affiliates, except third-party trademarks or service marks, which are the property of their respective owners. "Deutsche Bank" means Deutsc
s a free float-adjusted market capitalization index that is designed to measure developed market equity performance in Europe. As of May 2005, the MSCI Europe Index consisted of the following 16 developed market country indices: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy,
nformation The asset allocations described herein are formulated by the Regional Investment Committee (RIC) within Deutsche Bank Wealth Management (Deutsche Bank WM) and may utilize the following asset class components: U.S. large cap equity, U.S. small cap equity, Europe equity, Japan equity, Pacific ex-Japan
iliates of Deutsche Bank. "Deutsche Bank" means Deutsche Bank AG and its affiliated companies, as the context requires. Wealth Management refers to Deutsche Bank's wealth management activities for highnet-worth clients around the world. Deutsche Bank Wealth Management 9 EFTA01478024 Growth Tactical alloca
no sales charges and no conflict of interest. Deutsche Bank products are excluded from calculation of the billable assets for advisory fee charge. No Deutsche Bank commission charged on trades. Commission on trades are only charged by the counterparty. Fees are subject to change without notice. Further inform
isor regarding any tax matters addressed herein based on its particular circumstances. All trademarks and service marks on this statement belong to Deutsche Bank AG or its affiliates, except third-party trademarks or service marks, which are the property of their respective owners. "Deutsche Bank" means Deutsc
I Diversified Commodities Index' 2.0%; MoneyNet Money Funds (All) Tax-Free Average: 2.0%. Growth. Equities. S&P 500. 320%, Russell 2000 Index; 10%. MSCI Europe index 15.5%; MSCI Japan Index' 4.5%. MSCI Pacific Free ex-Japan €nder 3.0%; MSCI Emerging Markets Index: 3.5%. Fixed Income: Barclays Municipal Shor
oducts and services may be limited by applicable law Any products mentioned herein are not FDIC insured and are not obligations of nor guaranteed by Deutsche Bark AG or its affiliates Opinions expressed herein may differ from the opinions expressed by departments or other divisions or affiliates of Deutsche Bank.
of their respective owners. 'Deutsche Bank' means Deutsch Bank AG and its affiliated companies. as the context requires. Wealth Management refers to Deutsche Bark's wealth marogernent activities for high-net-worth clients around the world Discretionary portfolio management is offered through Deutsche Bank Trust
Entities connected to both MSCI Europe and Deutsche Bank

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