Deutsche Bank Cites Two Years of Championship's Success In Decision To Extend Commitment

Boston, Mass., September 5, 2004 � Deutsche Bank announced today that the Deutsche Bank Championship will return to the Greater Boston area through 2006. Deutsche Bank Americas CEO Seth Waugh pledged to continue to bring this first-class PGA TOUR event at TPC of Boston to the golf fans of New England.

"We are building a tradition � a very special week on the PGA TOUR schedule that has been embraced by a golf-starved region," said Seth Waugh, CEO, Deutsche Bank Americas.  "We had overwhelmingly positive feedback on the course from the players, great comments on the event from our clients and wonderful enthusiastic crowds.  New England has welcomed us with open arms and is a region that deserves a world-class event like this one.�

�We have also seen the positive results of our charitable efforts locally and being able to continue those efforts is an important factor in making this a milestone event for the region," added Waugh.  �It is a privilege to sponsor this event and we hope to make this our home for a long time to come.�

Additionally, the Deutsche Bank Championship will continue its relationship with the Tiger Woods Foundation and local area charities as the beneficiaries of the Championship, which in its inaugural year raised $1.5 million for charity, a PGA TOUR record for a first year event.

�The Deutsche Bank Championship has evolved into a premier event on the PGA TOUR,� said Championship Director Jay Monahan. �With the support of our sponsors, the community, the TPC of Boston and the PGA TOUR, we are able to improve and grow this event every successive year.�

The 2004 Deutsche Bank Championship, in cooperation with the Tiger Woods Foundation and the Deutsche Bank Americas Foundation selected as beneficiaries the Tiger Woods Learning Center and New England-area charities whose missions are in line with that of the Tiger Woods Foundation: �to empower young people to reach their highest potential by initiating and supporting community based programs that promote the health, education and welfare of all of America�s children.�

The beneficiaries chosen to receive donations from this year�s Championship are: the Tiger Woods Learning Center, the City of Boston Mayor�s Summer Jobs Program, the Boys & Girls Club of Boston, Boston Ballet�s CityDance, Bottom Line, the Agassiz Village, Boston Cares, the Healthworks Foundation, the Francis Ouimet Scholarship Fund, the Boys & Girls Clubs of Providence, the Mansfield  and Norton Communities, MGA Forekids Program and the Boston Red Sox Foundation.

About Deutsche Bank

With roughly Euro 878 billion in assets and approximately 66,900 employees, Deutsche Bank offers unparalleled financial services in 74 countries throughout the world. Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private & business banking franchise in Germany and other selected countries in Continental Europe.

Deutsche Bank Securities Inc. is the investment banking and securities arm of Deutsche Bank AG in the United States. www.deutsche-bank.com

About the Tiger Woods Foundation

Established in 1996 by Tiger Woods and his father Earl, the Tiger Woods Foundation empowers young people to reach their highest potential by initiating and supporting community-based programs that promote the health, education and welfare of all of America�s children.  Information on the Foundation can be found at www.tigerwoodsfoundation.org.

About IMG

IMG, who is managing and staging the event, is the world�s largest, most diverse and only truly global company dedicated to the marketing and management of sport, leisure and lifestyle.  IMG employs a staff of nearly 3,000 people and has offices, sports academies and IMG-managed real estate facilities in 34 countries.

About The Tournament Players Club of Boston

The Tournament Players Club of Boston is a new addition to the PGA TOUR's prestigious Tournament Players Club Network.  Featuring a signature Arnold Palmer-designed course, the TPC of Boston offers a quality golf experience for all levels of play.  The course offers five sets of tees, measuring 7,178 yards from the championship tees, and features a 10-acre practice facility and elegant 34,000 square-foot clubhouse.  Located in the Great Woods of Norton, MA, the TPC of Boston opened in June 2002 as the 22nd Tournament Players Club, which is owned by PGA TOUR Golf Course Properties.  The Network includes more than 30 facilities, including licensed courses and international facilities.  The TPC of Boston has been nominated by the Palmer Course Design Company to Golf Digest for their 2003 category of top new private golf courses in the United States.

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