Standard & Poor's today revised the outlook
for Deutsche Bank AG and related entities to
stable from negative.

. . .

Core profitability has been depressed over
recent years due to strong growth in Deutsche
Bank's cost base, ongoing investment needs in
human capital (investment banking), and
infrastructure (E-commerce, Y2K, Euro
introduction, and risk management systems),
as well as restructuring charges in connection
with the Bankers Trust acquisition and its
domestic retail business.

Alta Vist Live

-- spider (spider0@usa.net), September 21, 2000