DEUTSCHE BANK AG - Deutsche Bank AG - Wave Expiry - TOPDWL & TOPDWK

Deutsche Bank AG - Wave Expiry - TOPDWL & TOPDWK

Deutsche Bank AG
 (incorporated under the laws of the Federal Republic of Germany)
  acting through its London branch

Notice of expiry WAVES

Please note the following WAVES have expired on 3 July 2014

 Barrier Level:                     38,500 index points
 Knock-Out Level:                   38,500 index points
 JSE Code:                          TOPDWK
 JSE Short Name:                    DB TOPCK W
 JSE Long Name:                     DB TOP 3850CK 0002 JUL14
 Isin Code:                         DE000DE8F624
 Final Prce:                        ZAR 16.903


 Barrier Level:                     39,500 index points
 Knock-Out Level:                   39,500 index points
 JSE Code:                          TOPDWL
 JSE Short Name:                    DB TOPCL W
 JSE Long Name:                     DB TOP 3950CL 0002 JUL14
 Isin Code:                         DE000DE8F632
 Final Price:                       ZAR 14.903


The Warrants are exercisable only in accordance with the terms and conditions as set in
Deutsche Bank's programme memorandum and relevant pricing supplement ("the
documents").


For further information contact:
X-markets - Tel (011) 775-7014
or e-mail x-markets.za@db.com

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