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Deutsche Börse Launches LevDAX Leverage Index - Three New Lyxor ETFs Launched In The XTF Segment On Xetra - First ETFs Issued On DAXplus Covered Call And LevDAX Index - Third DAX ETF Launched

Date 28/06/2006

The official launch of Deutsche Börse's new strategy index, the LevDAX®, took place on Wednesday. The index is linked to the performance of the DAX®, but boasts an additional feature - leverage. It rises and falls twice as steeply as the DAX. The LevDAX provides a simple strategy for magnifying participation in market movements. The LevDAX is designed as a basis for ETFs and structured products, as are all of Deutsche Börse's strategy indices.

The leverage factor for the LevDAX is adjusted on a daily basis, to ensure that the index achieves double the performance of the DAX based on the closing level of the previous day. Protection against total loss is guaranteed by the immediate adjustment of the leverage factor if the DAX drops by more than 25 percent against the previous day. "With the new LevDAX index, Deutsche Börse is, for the first time, giving investors the opportunity to pursue leveraged investment strategies in the form of index tracking," said Holger Wohlenberg, Managing Director for Market Data & Analytics at Deutsche Börse.

With the launch of the LevDAX, Lyxor Asset Management, a subsidiary of Société Générale, is offering a new exchange-traded fund, the Lyxor ETF LevDAX (ISIN: LU0252634307), on the index. Lyxor is also issuing two further ETFs on Deutsche Börse indices – the Lyxor ETF DAX (ISIN: LU0252633754) and the Lyxor ETF DAXplus Covered Call (LU0252635023). Then Lyxor ETF DAX is the third ETF based on Deutsche Börse's DAX benchmark index. The Lyxor ETF DAXplus Covered Call is the first ETF worldwide with a covered call strategy (also known as buy-write or rolling discount strategy). The covered call is an index-based options strategy which combines a passive index investment with a passive options strategy. This enables the investor to profit from a significantly better risk profile.

"We are delighted to once again be able to offer investors in the XTF segment outstanding product innovations in the shape of the new Lyxor ETFs on the DAX, LevDAX, and DAXplus Covered Call," said Rainer Riess, Managing Director of Stock Market Business Development at Deutsche Börse. "The new index funds will enrich the XTF segment at Deutsche Börse and open up new investment opportunities using ETFs for both private and institutional investors."

Market Data & Analytics calculates and publishes more than 2,100 indices in total. Deutsche Börse thus ranks among the world's major index providers. Market Data & Analytics also compiles, distributes, and markets independent capital market information, such as price data, trading statistics, and back office information for banks and financial institutions.

The XTF segment of Deutsche Börse is the leading marketplace for exchange-traded funds in Europe. A total of 129 index funds are currently listed in Deutsche Börse's XTF segment, 52 of which have been included in the segment for the first time since the beginning of 2006. Deutsche Börse's XTF segment accounts for around 50 percent of the entire trading volume in exchange-traded funds across Europe.

DAX®, MDAX®, SDAX® and TecDAX® are registered trademarks of Deutsche Börse AG.