Fresco DJ EURO STOXX 50 B Launched In XTF Segment - New ETF Tradable At Deutsche Börse - "Fresco Bees" Aimed At Institutional Investors

On Friday, July 23, trading will start in the class B shares of the Fresco Dow Jones EURO STOXX 50 ETF under the "Fresco bees" brand name in Deutsche Börse's XTF segment. The "Fresco bees" ETF tracks the Dow Jones EURO STOXX 50 index and is issued by Fresco Index Shares, a subsidiary of UBS. With the listing of this fund in the XTF segment Fresco is expanding its existing ETF offering to include a product that is specially tailored to the needs of institutional investors. The key difference between the new product and the Fresco Dow Jones EURO STOXX 50 ETF, which is already listed in the XTF segment, is the price per fund share and the significantly lower management fee, which amounts to 0.24 percent per year. According to Fresco Index Shares, the Fresco Dow Jones EURO STOXX 50 B has the lowest management fee of any ETF based on the DJ EURO STOXX 50 index worldwide.

Due to the ever-growing interest shown by institutional and private investors from both Germany and abroad in exchange-traded funds, the XTF segment was able to maintain its position as Europe's leading marketplace for exchange-traded index funds in the first half of 2004. Its market share during this period totaled 55.2 percent, up on the same period last year, when it amounted to 54 percent. The fund volume of the ETFs listed in the segment also reached a record level of €14.4 billion at the end of June, up 60 percent on the fund volume of €9 billion recorded at the end of June 2003.

Deutsche Börse is now offering free real-time prices for ETFs on the internet. At www.deutsche-boerse.com/xetralive, investors have access to Xetra Live screen, which, like the professional Xetra trading screen, displays a range of information including the ten best buy and sell offers for all of the ETFs traded in the XTF segment in real time.

Further information from Deutsche Boerse Group is available under http://www.media-relations.deutsche-boerse.com.