Deutsche Financial Services Names James Russell

President, European Division / Russell to Have Dual Role in Europe, Will Also Serve As Group Head of Dealer Services for Deutsche Financial Services Europe ST. LOUIS, Mo. (ots-PRNewswire) - Deutsche Financial Services (DFS), a leading international provider of distribution financing programs and services has named James Russell president of the company's European Division, based in Duesseldorf, Germany. Russell will also serve as Group Head of Dealer Services for Deutsche Bank's DFS Europe business unit. Russell, who most recently was President of DFS' Marine, HVAC, & International Division within the company's Inventory Finance Group, has nearly 30 years of experience in distribution financing. In his new position, Russell will be responsible for developing and furthering DFS' inventory finance business throughout Europe while managing the overall expansion of Deutsche Bank's current menu of dealer services programs through the DFS Europe business unit. He will also serve as the direct report for DFS Europe's factoring business in Italy and Germany and oversee the development of such activity throughout Europe. "Jim's overall finance experience is not only a great asset to DFS, but to our European customers as well," said Geoffrey D. Lyon, President of DFS' Inventory Finance Group and Global Head of DFS Europe Dealer Services. "He knows the European market and understands the importance of the individual cultures of the area. He is assembling a multinational team that will allow DFS to offer dynamic, value-added financing programs, tailored to meet all of our customer's current and future needs." Russell's new assignment was predicated on (U.S.-based) DFS' rapid emergence onto the European continent and Deutsche Bank's recent statement deeming financial services as a very important business function within the Bank's Corporate Banking and Real Estate (CORE) business group. Deutsche Bank made a strong commitment to this profitable function by unifying all of its European sales financing under the DFS brand name. The new DFS unit will benefit from synergies among its total offerings (dealer services, end-user services, and auto services) by sharing common customer targets and financing products that will be marketed as a total distribution financing package for European customers. "In the European market there are a number of companies who are excellent candidates for our programs and services, and this is a great opportunity for us to introduce our financing products to a new audience," Russell said. "I'm confident DFS will provide the spark that ignites the success of many of these companies, and ultimately the force that drives the sales distribution process in Europe." Deutsche Financial Services is an international leader in providing financing and servicing programs that facilitate the product distribution and sales process. Programs and services include inventory financing, accounts receivable financing, asset-based lending, leveraged acquisition financing, middle market secured lending, equipment finance, non-funded service programs, retail financing, commercial end-user financing, leasing, franchise financing, and related financial services. Deutsche Financial Services, based in St. Louis, Missouri, has operations across the United States, Canada, Europe, and Puerto Rico. DFS is a unit of Deutsche Bank Group, one of the world's largest financial institutions. As of September 30, 1998, Deutsche Bank Group had assets in excess of $600 billion. Information about DFS may be found on the World Wide Web at http://www.dfsc.com. ots Original Text Service: Deutsche Financial Services Internet: http://www.newsaktuell.de Contact: Tom J. Evans for Deutsche Financial Services, 314-523-3013, or e- mail, tom.evans@db.com Web site: http://www.dfsc.com

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