SEC Emergency Order on Short Sales

Statement made in accordance with the amendment to emergency order pursuant to section 12(k)(2) of the Securities Exchange Act of 1934 taking temporary action to respond to market developments

Dear Customer,

Please note that Deutsche Bank may not knowingly effect a short sale as part of bona fide market making and hedging activity related directly to bona fide market making in a derivative security based on a Cover Security, if our customer's or counterparty's transaction will result in the customer or counterparty establishing or increasing an economic net short position (i.e., through actual positions, derivatives or otherwise) in the issued share capital of a firm covered by the Order. Therefore, by trading in derivatives or similar instruments with Deutsche Bank during the effective period of the SEC Short Sale Order, you will be deemed to represent that you are not establishing or increasing an economic net short position (i.e. through actual positions, derivatives, or otherwise) in the issued share capital of a firm covered by the Order.

Please contact your regional sales representative for further information.