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ts. It is not an offer or a solicitation of an offer to buy or sell any financial instruments or to participate in any particular trading strategy. Target prices are inherently imprecise and a product of the analyst ' s judgment. The financial instruments discussed in this report may not be suitable fo
set by Deutsche Bank's equity analysts are based on a 12-month forecast period.. Korea: Distributed by Deutsche Securities Korea Co. South Africa: Deutsche Bank AG Johannesburg is incorporated in the Federal Republic of Germany (Branch Register Number in South Africa: 1998/003298/10). Singapore: This report is issued by De
.17% (spot ref: 3.68) from the EMEA Daily Compass on March 11 th . Little to prevent further grind lower to 2011 lows around 3.40, stop @ 3.73. Target a continued gradual grind higher in PLN/CZK. Target 6.400, stop @ 6.10. Buy a 3m USD/ZAR call with a 9.20 strike and KO at 9.65 for 32bps. Spot re
relating to any financial product referred to in this report and consider the PDS before making any decision about whether to acquire the product. Deutsche Bank AG Johannesburg is incorporated in the Federal Republic of Germany (Branch Register Number in South Africa: 1998/003298/10). Additional information relative to sec
nly. It is not an offer or a solicitation of an offer to buy or sell any financial instruments or to participate in any particular trading strategy Target prices are inherently imprecise and a product of the analyst judgement. Foreign exchange transactions carry risk and may not be appropriate for al
relating to any financial product referred to in this report and consider the PDS before making any decision about whether to acquire the product. Deutsche Bank AG Johannesburg is incorporated in the Federal Republic of Germany (Branch Register Number in South Africa: 1998/003298/10). Additional information relative to sec
Entities connected to both Target and Deutsche Bank AG Johannesburg

Deutsche Bank
ORGANIZATION
United Kingdom
LOCATION
Frankfurt
LOCATIONthe Kanto Local Finance Bureau
ORGANIZATION
New Zealand
LOCATIONBaFin
ORGANIZATION
Bloomberg L.P.
ORGANIZATIONDeutsche Bank Securities Inc.
ORGANIZATION
South Africa
LOCATION
Moody's
ORGANIZATIONNippon
ORGANIZATION
Sydney
LOCATION
Tokyo
LOCATIONStandard & Poor's
ORGANIZATION
Malaysia
LOCATION
Alan Dershowitz
PERSONSteve Pollard
PERSONAndreas Neubauer
PERSONDavid Folkerts-Landau
PERSON
Hong Kong
LOCATION