DBXT IBOXX SINGAPORE ETF 5

IPO

Company Registration: DBXT IBOXX SINGAPORE ETF 5
Company Introduction: db x-trackers II Markit iBoxx ABF Singapore Government Index ETF
The db x-trackers II Markit iBoxx ABF Singapore Government Index ETF (the “ETF
”) tracks the performance of the Markit iBoxx ABF Singapore Government® Total
Return Index (the “Index”). In order to achieve its investment objective, the
Fund may invest in up to 100% sovereign debt securities issued by the Singapore
Government in accordance with investment restrictions applicable to the Fund.
The Index covers sovereign debt issued in domestic currency (SGD) by the
Singapore central government. Only bonds that have a minimum bond life of 18
months at their issuance and a minimum remaining time to maturity of at least
one year at the monthly re-balancing date are eligible for the Index. Within
the Index, each bond is weighted according to the amount outstanding. All bonds
require a specific minimum amount outstanding of SGD 500 million. The Index is
published by the Markit Group in Singapore dollar (“SGD”) and had a base value
of 100 on 31 December 2000.
This section is a brief overview of the Index. It contains a summary of the
principal features of the Index and is not a complete description of the Index.
For further information on the Index, investors are invited to refer to the
relevant section of the Singapore Prospectus.

Features of Exchange Traded Funds
- Stock exchange liquidity with low bid/offer spread
- Low cost index investment, efficient alternative to traditional mutual funds
- Maximum 10% net counterparty risk exposure on derivative transactions, in
accordance with UCITS III investment restrictions. The credit rating of the
Swap Counterparty (Deutsche Bank AG) can be obtained at www.db.com

Risks associated with an investment in db x-trackers II ETFs
- There will be a difference in performance (or "tracking error") between the
net asset value of db x-trackers II ETFs and the relevant index being tracked
due to the impact of the All-In Fee (among other factors)
- db x-trackers II ETFs may trade in limited markets including but not limited
to circumstances where the liquidity of the underlying index constituents may
be limited as a result of the imposition of trading restrictions
- The value of an investment in db x-trackers II ETFs may go down as well as
up; past performance is no guarantee of future returns.
- For further information on risk factors, prospective investors are invited to
refer to the relevant section of the Singapore Prospectus

Index disclaimer
Markit and iBoxx are trade marks of Markit and have been licensed by
International Index Company ("IIC"), a subsidiary of Markit (together Markit
Group) for use by db x-trackers II. Markit Group does not approve, endorse or
recommend db x-trackers II or the Index.
The Index is derived from a source considered reliable, but Markit Group and
its employees, suppliers, subcontractors and agents (together Markit
Associates) do not guarantee the veracity, completeness or accuracy of the
Index or other information furnished in connection with the Index. No
representation, warranty or condition, express or implied, statutory or
otherwise, as to condition, satisfactory quality, performance, or fitness for
purpose are given or assumed by Markit Group or any of the Markit Associates in
respect of the Index or any data included in it or the use by any person or
entity of the Index or that data and all those representations, warranties and
conditions are excluded save to the extent that such exclusion is prohibited by
law.
Markit Group and the Markit Associates shall have no liability or
responsibility to any person or entity for any loss, damages, costs, charges,
expenses or other liabilities whether caused by the negligence of Markit Group
or any of the Markit Associates or otherwise, arising in connection with the
use of the Index.

db x-trackers – Deutsche Bank Exchange Traded Funds
Since January 2007, Deutsche Bank Exchange Traded Funds (ETFs), branded as db
x-trackers, has raised over US$50 billion in assets under management and is the
world’s fastest growing global ETF provider.* With more than 125 db x-trackers
ETFs^ on various asset classes including equities, fixed income, credit
(long/short), money market, currencies and commodities, investors are able to
implement a wide range of market strategies in a transparent, flexible and
efficient manner. db x-trackers ETFs are supported by a range of market makers
and are listed on different exchanges across Europe (Borsa Italiana, Frankfurt
Xetra, Paris Euronext, London Stock Exchange and Zurich SIX Swiss Exchange). db
x-trackers ETFs are now also available in Asia on The Stock Exchange of Hong
Kong Limited (“SEHK”) and the Singapore Stock Exchange (“SGX-ST”).
*Source: Deutsche Bank Research, January 2010
^Source: Deutsche Bank, as of March 25 2010

Important Information
This report is issued in Singapore by Deutsche Bank AG, acting through its
Singapore branch and may not be reproduced, distributed or transmitted to any
person without express prior permission.
The db x-trackers II ETFs are sub-funds of db x-trackers II, which is a
Luxembourg-based investment company with variable capital. The db x-trackers II
ETF specifically mentioned herein is recognised in Singapore for retail
distribution and listed and traded on SGX-ST. For Singapore regulatory
purposes, db x-trackers II is the responsible person for the db x-trackers II
ETFs.

This document and the information contained herein may not be distributed and
published in jurisdictions in which such distribution and publication is not
permitted. Without limitation to the foregoing, any direct or indirect
distribution of this document into the United States, Canada or Japan, or to
U.S. persons or U.S. residents, is prohibited. No person selling or purchasing,
soliciting any sale or purchase of, or purporting to sell or purchase, any
share in the funds is authorized to act or make any representation express or
implied for and on behalf of the funds, db x-trackers II or its manager or
Deutsche Bank AG and/or its affiliates (“DB”).
This document contains a short summary description of the above-mentioned db
x-trackers II ETF and is provided for information purposes only and shall not
be relied upon for any investment or divestment decision. It does not create
any legally binding obligations on the part of DB. All figures are subject to
auditors' approval on the reporting dates. Data and information used in this
publication have been taken from international information vendors which are
believed to be accurate. DB accepts responsibility for accurately reproducing
such data and information but makes no warranty or representation as to the
correctness, completeness and accuracy of data and information sourced from
such information vendors. Net asset value or valuation information does not
represent DB's economic assessment of the value of the funds or shares, are
neither bid nor offer prices for shares and may not be prices at which the
shares may be purchased or sold by any investors. Past performance is not
indicative of future performance and the value of the shares may fall or rise.
The listing of the shares of db x-trackers II ETFs does not guarantee a liquid
market for the shares.
This product may not be appropriate for all investors. Any investment in the
relevant funds involves numerous risks including, among others, market,
counterparty default and illiquidity risk. An investor could lose its entire
investment. We have prepared this document without consideration of the
investment objectives, financial situation or particular needs of any retail
investor. Without limitation, this document does not constitute an offer, an
invitation to offer or a recommendation to enter into any transaction. Before
entering into any transaction you should take steps to ensure that you fully
understand the transaction and have made an independent assessment of the
appropriateness of the transaction in the light of your own objectives and
circumstances, including the possible risks and benefits of entering into such
transaction. You should also consider seeking independent professional advice
in making this assessment and read the relevant Singapore prospectus before
deciding to invest in shares of the db x-trackers II ETFs. Investment involves
risks such as possible loss of the principal amount invested. The value of the
shares and the income from the db x-trackers II ETFs (if any) may fall or rise.
Investors may only redeem shares in the db x-trackers II ETFs with the manager
directly under certain specified conditions as described in the relevant
Singapore prospectus. Investors should note that the db x-trackers II ETFs may
invest, as a part of their investment policy, in financial derivative
instruments such as index swap transaction(s). Investors should refer to
paragraph 17.3 of the Singapore prospectus for further details. Investors
should note that the net asset value of the above-mentioned db x-trackers II
ETF may have a high volatility due to its investment objective. An investment
in the above-mentioned db x-trackers II ETF is suitable for investors who are
able and willing to invest in a sub-fund with a high risk grading as further
described in paragraph 5 of the Singapore prospectus. Investors should note
that the risk grading set out in the section “TYPOLOGY OF RISK PROFILES” of the
Luxembourg Prospectus of db x-trackers II has been established by db x-trackers
II for the sole purpose of comparison with other sub-funds offered to the
public by db x-trackers II and has not been independently reviewed or assessed
by any third party.
db x-trackers II ETFs may enter into transactions in over-the-counter markets,
which will expose the relevant db x-trackers II ETF to the credit risk of the
counterparties to such transactions and their ability to satisfy the terms of
such transactions. Swap agreements which the relevant db x-trackers II ETF may
enter into are subject to the risk that the swap counterparty may default on
its obligations. Please refer to the Singapore prospectus of the relevant db
x-trackers II ETF for more information on the risks of investing in the
relevant db x-trackers II ETF, including amongst others, the counterparty risk
and risk of the swap agreements. Information on the current credit rating of
Deutsche Bank AG, the swap counterparty, may be obtained at www.db.com.
DB is not acting as your financial adviser or in any other fiduciary capacity.
DB may engage in transactions in a manner inconsistent with the views discussed
herein. DB trades or may trade as principal in the instruments (or related
derivatives), and may have proprietary positions in the instruments (or related
derivatives) discussed herein. DB may maintain a long or short position in the
securities referred to herein, or in related futures or options, purchase or
sell, make a market in, or engage in any other transaction involving such
securities, and earn brokerage or other compensation.
This document was prepared by a sales or structuring function within DB, and
was not produced, reviewed or edited by the DB Research Department. Any
opinions expressed herein may differ from the opinions expressed by other DB
departments including the Research Department. Sales and structuring functions
are subject to additional potential conflicts of interest which the Research
Department does not face.
A complete description of the relevant db x-trackers II ETF is included in the
latest version of the Singapore prospectus issued by db x-trackers II. Copies
of the Singapore prospectus and the semi-annual and annual reports are
available at www.dbxtrackers.db.com.sg and may be obtained from the Singapore
Representative (Deutsche Securities Asia Limited, Singapore Branch, having its
registered office located at One Raffles Quay, #17-10, Singapore 048583), or
from the registered office of db x-trackers II (RCS Nr.: Luxembourg B-124284
(located at 49, avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of
Luxembourg). Alternatively, prospective investors may contact Deutsche Bank AG,
Singapore Branch, located at One Raffles Quay #18-00 South Tower, Singapore
048583 (Hotline: +65 6238 8868 begin_of_the_skype_highlighting +65 6238 8868 FREE end_of_the_skype_highlighting, Website: www.dbxtrackers.com.sg, e-mail:
info.dbx-trackers@db.com, Bloomberg DBETF | Reuters DBETF).
© 2010 Deutsche Bank AG

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