FRANKFURT (Standard&Poor's) July 3, 2008--Standard&Poor's Ratings Services said today that the ratings on Deutsche Bank AG (AA/Negative/A-1+) are unaffected by the agreed acquisition of parts of the commercial banking activities of ABN AMRO Bank N.V. (AA-/Developing/A-1+) in the Netherlands for €709 million in cash. In a group context, the transaction is limited in scale and fits into Deutsche Bank's strategy to strengthen its noninvestment banking activities through measured acquisitions. Moreover, the terms of the purchase agreement are favorable to Deutsche Bank, and at the outset the transaction will not negatively affect its capitalization. Deutsche Bank will acquire the businesses at a discount of approximately €300 million to their net asset value and ABN AMRO will provide
