Deutsche Financial Services Names James Russell

President, European Division / Russell to Have Dual Role inEurope, Will Also Serve As Group Head of Dealer Services forDeutsche Financial Services Europe ST. LOUIS, Mo. (ots-PRNewswire) - Deutsche Financial Services(DFS), a leading international provider of distribution financingprograms and services has named James Russell president of thecompany's European Division, based in Duesseldorf, Germany.Russell will also serve as Group Head of Dealer Services forDeutsche Bank's DFS Europe business unit. Russell, who most recently was President of DFS' Marine, HVAC,& International Division within the company's Inventory FinanceGroup, has nearly 30 years of experience in distributionfinancing. In his new position, Russell will be responsible fordeveloping and furthering DFS' inventory finance businessthroughout Europe while managing the overall expansion ofDeutsche Bank's current menu of dealer services programs throughthe DFS Europe business unit. He will also serve as the directreport for DFS Europe's factoring business in Italy and Germanyand oversee the development of such activity throughout Europe. "Jim's overall finance experience is not only a great asset toDFS, but to our European customers as well," said Geoffrey D.Lyon, President of DFS' Inventory Finance Group and Global Headof DFS Europe Dealer Services. "He knows the European market andunderstands the importance of the individual cultures of thearea. He is assembling a multinational team that will allow DFSto offer dynamic, value-added financing programs, tailored tomeet 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'srecent statement deeming financial services as a very importantbusiness function within the Bank's Corporate Banking and RealEstate (CORE) business group. Deutsche Bank made a strong commitment to this profitablefunction by unifying all of its European sales financing underthe DFS brand name. The new DFS unit will benefit from synergiesamong its total offerings (dealer services, end-user services,and auto services) by sharing common customer targets andfinancing products that will be marketed as a total distributionfinancing package for European customers. "In the European market there are a number of companies whoare excellent candidates for our programs and services, and thisis a great opportunity for us to introduce our financing productsto a new audience," Russell said. "I'm confident DFS will providethe spark that ignites the success of many of these companies,and ultimately the force that drives the sales distributionprocess in Europe." Deutsche Financial Services is an international leader inproviding financing and servicing programs that facilitate theproduct distribution and sales process. Programs and servicesinclude inventory financing, accounts receivable financing,asset-based lending, leveraged acquisition financing, middlemarket secured lending, equipment finance, non-funded serviceprograms, retail financing, commercial end-user financing,leasing, franchise financing, and related financial services. Deutsche Financial Services, based in St. Louis, Missouri, hasoperations across the United States, Canada, Europe, and PuertoRico. DFS is a unit of Deutsche Bank Group, one of the world'slargest 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 athttp://www.dfsc.com. ots Original Text Service: DeutscheFinancial 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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