Deutsche Bank AG - Historische Gesellschaft der Deutschen Bank e.V.

Ms. Sachau gives the following reasons for her proposal:
"Deutsche Bank has earned large amounts from the indebtedness of the 'Third
World'. Its profits have also served, one-sidedly, our further enrichment and not the
social development of the 'Third World'. Support for the Salesians represents an
ethical personal orientation and a step in the direction of a more just world econ-
omic order. The Salesians have supported educational facilities, small and me-
dium-sized enterprises and small-scale agricultural projects in developing coun-
triesfor a long time. In this way they effectively help the people to help themselves,
and promote the establishment of stable social and economic structures. This
makes the Salesianer Don Bosco experienced partners with good prospectsof suc-
cess, who will enhance the image of Deutsche Bank."
Dr. Bartke-Anders, Berlin, has given notice that with regard to ltem 2 of the Agenda
she will propose the following rnotion:
"Debt waiver instead of increased dividend! The General Meeting is requested to
resolve a reduction of the dividend in favour of a reserve fund. This fund is to be
used to increase to 100% the provisioning for risk-bearing loans to 'Third World'
countries, in order to finally cancel their debts."
She gives the following reasons for her proposal:
"The dividend increase was made possible partly by profits from lending business
with the 'Third World'. Money earned in this manner has to be rejected, because an
end to the debt crisis and the desolate living conditions of the people of the coun-
tries concerned is not in sight. For ethical reasons, debts must be waived! All debt
management models, including the Brady Plan, have failed so far. Repayment can
realistically no longer be expected; the debtor countries' burden must now finally
be made lighter. In particular, the outstanding profit for the past financial year
should be used towaive debt on a major scale. In this way Deutsche Bank would live
up to its claim to follow a global and responsible business policy, and it would gain
higher esteem throughout the world."
Reply:
The Board of Managing Directors proposes that the motions tendered by Ms. Sachau
and Dr. Bartke-Anders be rejected.
The assertion that Deutsche Bank has earned large amounts from the indebtedness
of the Third World is not correct. As is generally known, substantial write-downs have
tobe made on claimson countries in theThird World. We have helped to easethe debt
load of the countries concerned by participating in reschedulings, through partial
waivers and by reducing interest rates. Shareholderscan therefore not be expected to
bear a further burden in the form of a cut in the dividend.
In addition, the following counter-proposals have been received with regard to ltems
3 and 4 of the Agenda:
Mr. Hubert Grevenkamp, Munich, hasgiven notice that he will propose that the acts of
management of the Board of Managing Directors not be ratified.