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Acceptance of General Terms & Conditions
Copyright © 2010 Deutsche Bank AG

By using the X-markets Website, you agree to be bound by the following terms and conditions.

1. No offer
The information contained on the X-markets Website does not constitute or form part of any offer, or invitation, to buy or to sell, or solicitation of any offer to subscribe for or to buy or to sell, the warrants or other securities of Deutsche Bank AG London (the "Issuer") in any jurisdiction.

In particular, in order to comply with applicable laws and regulations, different contents on the X-markets Website are designed for residents of different jurisdictions. You need to specify your jurisdiction of residence when you use the X-markets Website. If your jurisdiction of residence is not listed, you may not enter the X-markets Website. You should only browse and/or download contents designed for your jurisdiction of residence. Deutsche Bank AG and its affiliates disclaim all responsibility if you browse and/or download any contents designed for jurisdictions other than your jurisdiction of residence in breach of any applicable laws and regulations.

2. Pricing Levels and Valuations
Pricing levels and valuations published on the X-markets Website are indicative and they and other information displayed thereon are for information purposes only. Such information is provided on an “as is” basis. None of Deutsche Bank AG or its affiliates or any information provider makes any express or implied warranty of any kind regarding the information on the X-markets Website. None of Deutsche Bank AG or its affiliates or the information providers will be liable to anyone for any interruption, inaccuracy, error or omission, regardless of cause, in the information on the X-markets Website or for any kind of damages as a result.

3. No investment advice
Information made available on the X-markets Website should not be considered as investment advice or any form of recommendation to purchase or sell products described thereon.

4. Base Listing Document and Supplemental Listing Document/Offer Documents
In respect of each issue of warrants/securities issued by the Issuer, the terms and conditions of the warrants/securities, together with financial and other information on the Issuer, are set out in the Base Listing Document, any Addendum to the Base Listing Document and the relevant Supplemental Listing Document (in respect of the warrants) and the relevant Offer Document (in respect of other securities). Such documents are available from the X-markets Website.

5. Creditworthiness of the Issuer
The warrants/securities issued by the Issuer constitute the general unsecured contractual obligations of Deutsche Bank AG and of no other person. If you purchase such warrants/securities, you rely on the creditworthiness of Deutsche Bank AG and have no rights under the warrants/securities against any underlying assets.

6. Historical performance
Past performance information contained on the X-markets Website is not indicative of future results. The price of the warrants/securities may fall in value as rapidly as it may rise and you may sustain a total loss of your investment. You should therefore ensure that you understand the nature of the warrants/securities and carefully study the risk factors set out in the Base Listing Document and the relevant Supplemental Listing Document and/or the relevant Offer Document and, where necessary, seek professional advice before you invest in the warrants/securities.

7. Liquidity
You should note that the Issuer acting through its appointed designated market-maker may be the only market participant in respect of the warrants/securities issued by the Issuer and the secondary market for such warrants/securities may be limited.

8. No warranties for contents
Although best efforts have been used to ensure that the information set out on the X-markets Website is reliable or reproduced from sources which Deutsche Bank AG believe to be reliable as at the date of publication, no warranty is made as to its accuracy, completeness and adequacy. Any opinions expressly stated to be from Deutsche Bank AG or its affiliates may change without notice. Deutsche Bank AG has no obligation to update, modify or amend any information on the X-markets Website or correct any inaccuracy which subsequently becomes apparent.

9. Use of the X-markets Website
9.1. Changes of the X-markets Website
Deutsche Bank AG reserves the right to partly or completely change the X-markets Website at any time and to restrict, interrupt or terminate its service.
9.2. Changes of General Terms and Conditions of Use
Deutsche Bank AG reserves the right to modify or amend these terms and conditions at any time.

10. Copyright and Trademark
Except where expressly stated, Deutsche Bank AG is the sole owner of all intellectual property rights in all the contents and design of the X-markets Website and any logos or trademarks displayed on the X-markets Website. You may use the materials on the X-markets Website for your personal and non-commercial reference only. You may not reproduce, republish, distribute, translate, transmit, display, broadcast or otherwise exploit any materials on the X-market Website, or use any logos or trademarks displayed on the X-markets Website, without the prior written consent of Deutsche Bank AG and/or such other relevant third party owner of intellectual property rights.

11. Privacy
Deutsche Bank AG respects your privacy. Please refer to the Privacy Policy of the X-markets Website.

12. Safety of Communication
Communications over the Internet and by e-mail cannot be guaranteed to be secure. There is a risk that information contained within an e-mail communication and any attachment thereto, including potentially confidential information, may be intercepted, lost, destroyed or delayed in transmission. Although Deutsche Bank AG will use reasonable efforts to minimise such risk, it does not warrant that any communication or e-mail or any attachments thereto, that is sent out, will be free from viruses, worms or other harmful components.

13. Hyperlinks
Certain hypertext links on the X-markets Website may lead the user to websites that are not under the control or charge of Deutsche Bank AG. When the user clicks on such a link, he leaves the X-markets Website. Deutsche Bank AG has no control over the materials on such third party websites and accept no responsibility for their contents. These hyperlinks should not be considered as any endorsement by Deutsche Bank AG of the related materials. Please note that you will be subject to the terms of use and privacy policy of the other website that you are going to visit.
You may not establish a hyperlink to any page of the X-markets Website without the prior written consent of Deutsche Bank AG.
14. Governing Law; Jurisdiction
14.1. Governing Law
These terms and conditions are exclusively governed by and shall be construed in accordance with Singapore law.
14.2. Jurisdiction
Each user is subject to the exclusive jurisdiction of the courts of Singapore in respect of any disputes arising under these terms and conditions.

15. Severability
If at any time any provision (or part of any provision) of these terms and conditions is, or becomes, illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect the legality, validity or enforceability in that or any other jurisdiction of any other provision (or any other part of this provision) of these terms and conditions.

16. Selling restrictions
The products described on the X-markets Website are not eligible for sale in all countries and in any event may only be sold to qualified investors. The Base Listing Document contains information as to the selling restrictions applicable to any particular warrants/securities issued by the Issuer and the user should read them carefully.In particular, the following restrictions apply:Residents of the United States of America:The warrants/securities issued by the Issuer have not been and will not be registered under the US Securities Act of 1933 and trading in the warrants/securities issued by the Issuer has not been approved for purposes of the US Commodities Exchange Act of 1936. The securities may not be offered or sold in the United States, to US citizens or US residents.

17. Language
In the event of any inconsistency between the Chinese translation of these terms and conditions and the English version of these terms and conditions, the English version of these terms and conditions shall prevail.

18. Publication
The information in the X-markets Website is deemed to be published by Deutsche Securities Asia Limited, Singapore Branch.
Yes, I agree to be bound by these terms and conditions