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Frankfurt am Main, 20th of November 2008

Dresdner Bank opens subsidiary in Dubai

• New offering for private clients
• Cooperation with Bonhams auction house
• Scholarship programme for young artists

Dresdner Bank today officially opens its subsidiary Dresdner Bank (DIFC) Limited in Dubai, thus expanding its presence in the Middle and Near East. The newly established subsidiary in Dubai will in future offer high net worth private clients access to the Dresdner Bank Group's services and products in the area of Private Wealth Management.

In June 2008, Dresdner Bank received its license from the relevant supervisory authority at the Dubai International Financial Centre (DIFC). The Bank is regulated by Dubai Financial Services Authority (DFSA).

Dresdner Bank has had a representative office for corporate clients and financial institutions in Dubai since 1995. Owing to the high growth rates in Private Wealth Management, the United Arab Emirates are regarded as one of the region's key future markets. Nigel Putt heads the subsidiary in Dubai as Senior Executive Officer. Anton Simonet, Dresdner Bank's Global Head Private Wealth Management, holds the position of Chairman. The Bank currently has 10 employees in Dubai.

"Our presence in Dubai will significantly expand our market position in the Near and Middle East. We offer our clients in this region advantages due to our integrated advisory strategy with product and financial solutions from Allianz and Dresdner Bank," said Nigel Putt on the occasion of the opening.

In addition, the Bank gives its clients access to the European capital markets and offers expertise in banking and insurance products. Its offering also comprises two of the Group's own Sharia-compliant investment funds, which were specially launched due to the high demand in the region.

The goal is to establish Dresdner Bank Dubai as a market leader for high net worth clients in the Middle and Near East.

Supporting Nigel in DBDL's office is a first-class team of senior private bankers. Robert Mankelow, Ashraf al-Yamani, Danish Chotani and Hilmar Oschmann bring an unrivalled and complementary skill set to the Dresdner platform.

Dresdner Bank AG manages assets totalling around €130 billion and is ranked second in Germany's Private Banking segment.

Dresdner Bank (DIFC) supports auction by Bonhams
To celebrate the opening of its office in Dubai, Dresdner Bank is supporting Bonhams second Middle East auction of contemporary Arabic, Iranian and Pakistani art, being held at the One & Only Royal Mirage Hotel at 7pm on 24 November 2008. Works by Anish Kapoor, Sohrab Sepehri and prominent Emirati artist Abdul Kadir Al-Rais will be highlights of the auction.

Dresdner Bank has also launched a new international scholarship programme for young artists entitled "FASTEN YOUR SEATBELTS" together with the Dubai Culture & Arts Authority, the City of Frankfurt and the Städel School of Fine Arts in Frankfurt. On 15 November 2008, two up-and-coming artists from the Städel School – Matthias Scholten and Hannes Michanek – moved to Dubai for six months to work on their art projects. In return, two artists from Dubai will have the opportunity to visit Germany in spring 2009.

Note to editors:

Dresdner Bank (DIFC) Limited
Dresdner Bank (DIFC) Limited (DBDL) is a subsidiary of Dresdner Bank AG and is part of the bank’s private wealth management division. DBDL was incorporated May 2008, and is registered in the Dubai International Financial Centre (DIFC) and regulated by Dubai Financial Services Authority (DFSA). The company specialises in advising on and arranging the distribution of products and services of its sister companies within the Dresdner and Allianz Group to high net worth clients throughout the GCC and MENA region.

Please visit www.dresdner-bank-difc.com for more information.

Dresdner Bank AG is one of Europe’s largest banking corporations; Germany’s third largest, and has been a wholly-owned subsidiary of Allianz Group since 2001. It has over 1000 branches and is present in over 60 major cities including Frankfurt, London, New York, Tokyo and Singapore. The company's operating divisions are Private & Corporate Clients (personal, private, business, and corporate banking; private wealth management) and Investment Banking (capital markets and global banking).

About Bonhams
Bonhams, founded in 1793, is one of the world's oldest and largest auctioneers of fine art and antiques. The present company was formed by the merger in November 2001 of Bonhams & Brooks and Phillips Son and Neale UK. In August 2002, the company acquired Butterfields, the principal firm of auctioneers on the West Coast of America and in August 2003, Goodmans, a leading Australian fine art and antiques auctioneer with salerooms in Sydney, Melbourne and Adelaide, joined the Bonhams Group of Companies.

Today, Bonhams offers more sales than any of its rivals, through two major salerooms in London: New Bond Street, and Knightsbridge, and a further seven throughout the UK. Sales are also held in San Francisco, Los Angeles, New York and Boston in the USA; and Australia, Canada, Dubai, France, Hong Kong, Monaco and Switzerland . Bonhams has a worldwide network of offices and regional representatives in 25 countries offering sales advice and valuation services in 57 specialist areas.

For a full listing of upcoming sales, plus details of Bonhams specialist departments, go to www.bonhams.com

Contact for DIFC:
Dresdner Bank (DIFC) Ltd.
Private Wealth Management
Nigel Putt
Senior Executive Officer
Dubai
E-mail: nigel.putt@dresdner-bank.com
Tel.: +971 (0) 4 3594872
Fax: +971 (0) 4 3596226

Contact for VAE media:
momentum creative communications
Sonja Ohly or Jade Mamarbachi
Dubai
E-mail: sonja@momentum.cc or jade@momentum.cc
Tel.: +971 (0) 4 3901630
Fax: +971 (0) 4 3904516

Contact for media in Germany:
Renate Christ Tel.: +49 (0) 174 312 09 48
Martin Halusa Tel.: +49 (0) 69 263-50750
Dresdner Bank AG
Group Communication
Media Relations
Jürgen-Ponto-Platz 1
60301 Frankfurt/Main, Germany