FRANKFURT (Standard&Poor's) July 31, 2003-- Standard&Poor's Ratings Services said today that the robust performance of Deutsche Bank AG (AA-/Negative/A-1+) for the second quarter ending June 30, 2003, will not result in a revision of the outlook on Deutsche Bank and its related entities. "The absence of substantial nonrecurring charges, another good quarter for investment banking in general, and dividend payments on its industrial holdings contributed to an improved pretax profit of €1.1 billion compared with pretax profit of €0.2 billion in the first quarter of 2003," said Standard&Poor's credit analyst Bernd Ackermann. The results also reflect Deutsche Bank's efforts to capitalize on its strong market position in select areas of investment banking and asset
