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Deutsche Bank Becomes A Tel-Aviv Stock Exchange Member

Date 06/07/2004

The Tel-Aviv Stock Exchange announced that Deutsche Securities Israel, a subsidiary of Deutsche Bank AG, has become an exchange member. Membership enables direct access to trading on the exchange. The TASE Board of Directors approved the German bank’s membership on July 1.

Deutsche Securities Israel becomes the TASE's second international member after UBS, which joined the exchange in 1997.

The TASE lists more than 580companies including 37 dual-listings (companies with shares traded both in Tel-Aviv and in the U.S.). The exchange trades shares, fixed-income instruments and derivatives on a single, fully automated, trading platform. Clearing and settlement of all trades are executed in-house, through the TASE's wholly owned clearing house, which also serves as Israel's central securities depository.