Important Announcement on the Financial Instruments and Exchange Law

Deutsche Securities Inc.
Financial instruments dealer, Kanto Financial Bureau (Kin-sho) No. 117
Money Lending Business Registration Number, Governor of Tokyo Prefecture(5)No. 29674
(Member of Japan Securities Dealers Association, The Financial Futures Association of Japan and Type II Financial Instruments Firms Association)

Deutsche Bank AG, Tokyo Branch
Registered financial institution, Kanto Financial Bureau (Tou-kin) No. 625
(Member of Japan Securities Dealers Association and The Japanese Bankers Association)

DWS Investments Japan Limited
Financial instruments dealer, Kanto Financial Bureau (Kin-sho) No. 359
(Member of Japan Securities Dealers Association, The Investment Trusts Association, Japan, Japan Investment Advisers Association and Type II Financial Instruments Firms Association)

Concerning investment commissions and risks
The Deutsche Bank Group website is produced and offered solely for informational purposes on the activities, products and services of Deutsche Bank Group and its Group companies, and should not be construed as a solicitation nor as investment advice or recommendations for, specific products and services. Products and services carried on the site may incur commissions, management fees and/or other fees and/or costs. The value of products and services might go down as well as up and may incur the risk of losses due to a variety of causes, including but not limited to, market and economic trends, pricing variations, financial, legal, tax, accounting and other factors. The advice of a financial institution such as Deutsche Bank Group companies or of a financial professional should be sought before engaging in the purchase of any financial product or service.

Announcement of “Expiry Date” under Professional Investor/General Investor System
The Financial Instruments and Exchange Law (and related amendment to the Banking Law and other relevant laws), which was implemented on September 30, 2007, introduces a new investor protection system, the so-called Professional Investor/General Investor System, under which customers of financial instruments firms are classified as either Professional Investors, who the Law deems do not need protection provided by the Law, or General Investors, who the Law deems need to be protected by the Law.

From the perspectives of investor protection, General Investors are protected by regulations imposed on financial instruments firms. In contrast, in the interest of facilitating smooth transactions, Professional Investors are excluded from application of certain regulations imposed on financial instruments firms (i.e., regulations aimed at correcting the information disparity between financial instruments firms and investors, and other regulations) on the grounds that, given their knowledge, experience and financial conditions, they are deemed to be capable of properly managing risks associated with financial transactions.

Investor Classification
Classification of customers as Professional Investors or General Investors is as described in the table below. Certain Professional Investors are permitted, at their option, to be reclassified and treated as General Investors, whereby they would be able to enjoy the same protection as General Investors do. At the same time, certain General Investors are permitted, at their option and acceptance by each of the financial instruments firms they transact, to be reclassified and treated as Professional Investors. Please note that reclassification of such General Investors as Professional Investors is not always accepted by a financial instruments firm.

Expiry Date
For customers who have been reclassified as a Professional Investor, reclassification continues to be effective on and from the date of acceptance for reclassification by the relevant Deutsche Bank Group entity (Deutsche Securities Inc.; Deutsche Bank AG, Tokyo Branch; or DWS Investments Japan Limited) to and including the immediately succeeding July 31 (the last day of the effective period hereinafter referred to as the “Expiry Date”). If a customer desires to remain reclassified as a Professional Investor beyond the Expiry Date, the customer is required to make a renewal request for reclassification prior to the Expiry Date. If a customer who has been reclassified as a Professional Investor wishes to be treated as a General Investor, the customer may make the request at any time to the relevant Deutsche Bank Group entity.
For a customer who has been reclassified as a General Investor, the customer will continue to be treated as a General Investor until the earlier of (i) the day on which the relevant Deutsche Bank Group entity accepts, pursuant to the provisions of the Financial Instruments and Exchange Law, a request from such customer to be treated as Professional Investor, or (ii) the day immediately preceding the day on which such customer becomes a qualified institutional investor.