AFP Press Release

AFP, IBM and Deutsche Bank Announce Partnership to Develop Treasury Benchmarking Program

Boston, MA – October 21, 2007 – Today, the Association for Financial Professionals (AFP) announced a partnership with IBM to develop a comprehensive treasury benchmarking program. The multi-year project is being underwritten by Deutsche Bank Global Transaction Banking, which will also promote the program through its global network. The first study in the program covering treasury operations will be launched in March 2008.

"Financial professionals have been telling us for years that there are few benchmarks that truly measure the most critical aspects of effective treasury management," said AFP President and CEO Jim Kaitz. "With the combined treasury management expertise of AFP and IBM, along with the financial support of Deutsche Bank, AFP members will soon have access to a valuable resource for optimizing treasury operations."

All corporate financial professionals will be eligible to participate in the study at no cost. Once the study closes, study participants will receive a customized benchmark report that compares their operations with those of their relevant peer group, as well as with all other participants. This benchmark report will allow AFP members to identify opportunities to immediately improve their treasury management. The aggregate results of the initial study will be released publicly and presented at the 2008 AFP Annual Conference in Los Angeles, with a new study launched at each of the next two AFP Annual Conferences.

AFP has partnered with IBM to leverage IBM’s extensive experience in both treasury management and financial benchmarking. "Our consultants are actively engaged in projects to maximize the value derived from treasury for the world’s most sophisticated organizations," said Robert Eimers, the associate partner for IBM’s treasury consulting practice. "Through this collaboration, treasury professionals will gain access to a deep library of benchmarking data from AFP’s members, who lead the profession in developing and implementing best-in-class treasury solutions."

Marilyn Spearing, Head of Trade Finance and Cash Management Corporates, Global Transaction Banking, Deutsche Bank, said, "Recognizing that there is intense interest across the industry for comprehensive benchmark data, Deutsche Bank is pleased to support this unparalleled peer group study that will lead to improved treasury operations for our clients and the corporate market in general. By combining the AFP’s extensive membership base and IBM’s consulting expertise, we will be able to fill the information void. This program will create a new and trusted source of quality research that the corporate marketplace can leverage to take action."

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About AFP®
The Association for Financial Professionals (AFP) serves more than 16,000 individual members throughout all stages of their careers in treasury and financial management. Headquartered in Bethesda, MD, AFP provides professional certification, continuing education, research, development of industry standards, financial tools and publications, training and career development and representation to legislators and regulators. AFP’s global reach includes AFP of Canada, a Toronto-based membership organization and gtnews, a London-based, on-line resource for the treasury and finance community.

AFP is the daily resource for its members to seek answers, solutions, best practices and collaboration with peers. For more information about AFP, visit www.AFPonline.org.

About IBM
For more information on IBM, visit www.ibm.com.

About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 75,140 employees in 75 countries, Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Global Transaction Banking (GTB) comprises commercial banking products and services for corporate clients and financial institutions, including domestic and cross-border payments, professional risk mitigation for international trade, asset and liability management and the provision of trust, agency, depositary, custody and related services. Business units include Cash Management, Trade Finance, Trust & Securities Services and Capital Market Sales. We employ over 3,800 professionals in more than 35 countries.