FRANKFURT (Standard&Poor's) Sept. 4, 2003--Standard&Poor's Ratings Services said today the announcement by Deutsche Bank AG (AA-/Negative/A-1+) that it will start buying back up to 10% of its share capital by September 2004 will have no impact on the ratings on the bank. This is because the share buyback will not result in changes to the bank's capital targets, and should not affect Deutsche Bank's capital quality. Deutsche Bank remains committed to its capital target range of an 8%-9% Bank for International Settlements Tier 1 ratio. The bank plans to return to shareholders only those amounts that are not required to meet this target or support future growth. Potential sources for share buybacks will be the bank's
