Jan E. Kvarnström leaves Dresdner Bank

Frankfurt, February 16, 2006

Mr Jan E. Kvarnström, Member of the Board of Managing Directors of Dresdner Bank and CEO of the Bank’s Institutional Restructuring Unit (IRU), has announced his intention to leave the Bank at the end of February.

Mr Kvarnström was appointed to his present position in Dresdner Bank in December 2002, with the specific responsibility to set up and manage the Bank’s business segment Institutional Restructuring Unit (IRU). The IRU has successfully reached the objectives set up for the unit and consequently closed its operations.

In a joint statement, Michael Diekmann, CEO Allianz AG, and Dr Herbert Walter, CEO Dresdner Bank AG, comment: “Jan Kvarnström successfully set up the IRU and completed its important restructuring work well ahead of plan. Thanks to his efforts, Dresdner Bank can now focus on its ongoing business. We would like to thank Jan Kvarnström for his contribution and wish him all the best and much success in the future."

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