Deutsche Asset Management is one of the world's largest investment managers—a global organization committed to performance, innovation and service. Our combination of talents and capabilities is ideally suited to the needs of today's institutional investor:

• Global Perspective, Local Expertise - delivered by more than 850 investment and client service professionals working in an integrated worldwide network of offices.
• Big Ideas, Dynamic Innovation - focused on leveraging the latest research, technology and theory to deliver practical solutions to the challenges of today's market.
• Disciplined Processes, Consistent Performance - emphasizing a team-based approach to investment management, which brings together expertise in geographic markets, industry sectors, asset classes and investment styles.
• Customized Solutions, Rewarding Relationships - based on a consultative approach to client service and a comprehensive focus on meeting clients' aggregate business and portfolio challenges.

At Deutsche Asset Management, we have developed a diverse, integrated suite of investment products and services, as well as a full range of asset management services such as global asset allocation, global currency management and pension strategies.

In addition, as institutions continue to broaden the scope of their investment programs, we feel it is especially important to offer our clients substantial capabilities and experience in key alternative asset classes such as absolute return strategies, real estate and private equity:

• With more than 130 professionals located around the world, our Absolute Return Strategies group is one of the largest and most experienced, bringing our clients a range of single- and multi-manager funds, core-satellite strategies and customized hedge fund allocations.
• Real estate funds and securities can be accessed through DB Real Estate, one of the world's largest advisors of combined real estate property and real estate equities.
• Deutsche Asset Management also provides institutional investors with access to private equity markets, as well as an ability to invest across a variety of strategies, industries and regions.

Deutsche Asset Management currently has approximately $700 billion in global assets under management.* We have been managing assets on behalf of Canadian institutional investors for more than 19 years.

*June 30, 2004

Issued by Deutsche Asset Management Canada Limited, which provides services to Canadian clients and prospective clients with respect to the investment advisory products and services of the Deutsche Asset Management Group. Deutsche Asset Management Canada Limited is a wholly owned subsidiary of Deutsche Investment Management Americas Inc. Please note the above referenced snapshot pertains only to those investment products that are managed by the Deutsche Bank Group of Companies.

This material is provided for information purposes to institutional investors and professional consultants only and does not constitute investment advice, or a recommendation or an offer of solicitation, and is not the basis for any contract to purchase or sell any security, or other instrument, or for Deutsche Bank AG to enter into or arrange any type of transaction as a consequence of any information contained herein. Please note that investments in certain funds may involve a high degree of risk and are suitable only for sophisticated investors and could involve important legal, financial, fiscal and tax consequences and investment risks, which should be discussed with your professional advisor.

Deutsche Asset Management is the marketing name in the US for the asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Asset Management Inc., Deutsche Asset Management Investment Services Ltd., Deutsche Investment Management Americas Inc. and Scudder Trust Company.