DBRS Confirms AA (sf) Rating to the Credit Default Swap Entered Into by Diogenes CDO I, Ltd.

DBRS has today confirmed the rating of AA (sf) to the counterparty credit risk of Diogenes CDO I, Ltd. (“Diogenes”) with respect to its ability to make any and all payments due under the credit default swap confirmations (“CDS”) governed by the ISDA Master Agreement, dated September 30, 2005, between Deutsche Bank AG (“Deutsche Bank”) and Diogenes.

General Terms of the CDS:

Fixed Rate Payer: Deutsche Bank
Floating Rate Payer: Diogenes
Trade Date: September 30, 2005
Total Current Notional: 42,321,053

This rating reflects the various forms of cash collateralization held by Diogenes, as well as the position of Deutsche Bank as CDS Counterparty within the legal structure of Diogenes.

The DBRS rating addresses the ultimate payment of the above referenced payments until the Scheduled Termination Date of the CDS.

This rating did not include issuer participation and is based solely on publicly available information.

The principal methodology is Rating US & European Structured Finance CDO Restructurings, which can be found on our website under Methodologies.

Note:
All figures are in U.S. dollars unless otherwise noted.