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take the rest of the decade to play out fully. The Scandinavian economies similarly transformed themselves into net creditor nations in the 1990s. Denmark experienced a current account reversal in 1987 and has run large surpluses since. Denmark was considerably more indebted than the Eurozone by the t
be found at http://www.globalmarkets.db.com/riskdisclosures. Japan: Disclosures under the Financial Instruments and Exchange Law: Company name - Deutsche Securities Inc. Registration number - Registered as a financial instruments dealer by the Head of the Kanto Local Finance Bureau (IGnsho) No. 117. Member of associ
Deutsche Alternative Asset Management (Global) Landed and Deutsche Asset Management (UK) Limited: in Italy: RREEF Foniimmobiliari SGR S.D.A.; and in Denmark, Finland, Norway and Sweden: Deutsche Alternative Asset Management (UK) Limited and Deutsche Alternative Asset Management (Global) Limited: in addit
st GmbH; in Australia: Deutsche Asset Management (Australia) Limited (ABN 63 116 232 154) an Australian financial services license holder; in Japan: Deutsche Securities Inc. (For OSI. financial advisory (not investment advisory) and distnbution services only); In Hong Kong: Deutsche Bank Aktiengesellschaft, Hong Kong Bran
Deutsche Alternative Asset Management (Global) Limited and Deutsche Asset Management (UK) Limited. in Italy: RREEF Fondimmobilan SCR S p.A . and in Denmark. Finland, Norway and Sweden: Deutsche Alternative Asset Management (UK) Limited and Deutsche Alternative Asset Management (Global) Limited; in addi
st GmbH; in Australia: Deutsche Asset Management (Australia) Limited (ABN 63 116 232 154) an Australian financial services license holder. in Japan: Deutsche Securities Inc. (For DV, financial advisory (not investment advisory) and distribution services only); in Hong Kong. Deutsche Bark Aktiengesellschaft. Hong Kong Bra
Deutsche Alternative Asset Management (Global) Landed and Deutsche Asset Management (UK) Limited: in Italy: RREEF Foniimmobiliari SGR S.D.A.; and in Denmark, Finland, Norway and Sweden: Deutsche Alternative Asset Management (UK) Limited and Deutsche Alternative Asset Management (Global) Limited: in addit
st GmbH; in Australia: Deutsche Asset Management (Australia) Limited (ABN 63 116 232 154) an Australian financial services license holder; in Japan: Deutsche Securities Inc. (For OSI. financial advisory (not investment advisory) and distnbution services only); In Hong Kong: Deutsche Bank Aktiengesellschaft, Hong Kong Bran
Atternatree Asset Management (UK) Urrated. Deutsche Akernatme Asset Management rialobaa Linated and Deutsche Asset Managemere (UK) Limited. and in Denmark. Finland, Norway and Sweden: Deutsche Alternative Asset Management (UK) Limited and Deutsche Alternative Asset Management /Groben Limited. in additi
RREEF Spezial invest GmbH. in AtiViefia7 Deutsche Atstra€ia Limited (ABN 37 JEU 335 593) an Atstralian financial services license holder. In Japan: Deutsche Securities Inc. (For DS', financial advisory (pot investment advisory) and distribution services only). in Hong Kong. Dsutsche Bank Akbengese€ischah, Hong Kong Bran
Atternatree Asset Management (UK) Urrated. Deutsche Akernatme Asset Management rialobaa Linated and Deutsche Asset Managemere (UK) Limited. and in Denmark. Finland, Norway and Sweden: Deutsche Alternative Asset Management (UK) Limited and Deutsche Alternative Asset Management /Groben Limited. in additi
RREEF Spezial invest GmbH. in AtiViefia7 Deutsche Atstra€ia Limited (ABN 37 0EU 335 593) an Atstralian financial services license holder. In Japan: Deutsche Securities Inc. (For DS', financial advisory (pot investment advisory) and distribution services only). in Hong Kong. Dsutsche Bank Akbengese€ischah, Hong Kong Bran
Entities connected to both Denmark and Deutsche Securities Inc.

Finland
LOCATION
Norway
LOCATION
United Kingdom
LOCATION
United States
LOCATION
Malaysia
LOCATION
Deutsche Bank
ORGANIZATION
Moody's
ORGANIZATION
Tokyo
LOCATION
Sydney
LOCATIONDeutsche Asset & Wealth Management
ORGANIZATION
Frankfurt
LOCATIONRREEF
ORGANIZATION
Russia
LOCATIONNeither Deutsche Bank AG
ORGANIZATIONthe Deutsche Bank Group
ORGANIZATIONRREEF Infrastructure
ORGANIZATIONRREEF Management GmbH
ORGANIZATIONDeutsche Bank AG London
ORGANIZATIONStandard & Poor's
ORGANIZATIONDeutsche Alternative Asset Management
ORGANIZATION