burg, June 11, 2003. Deutsche EuroShop AG has received the information, that Deutsche Bank AG has reduced its shareholdings from 44.78% to 23.20%. The shares were sold in private placements.

„We are happy about more than 500 new shareholders“, Claus-Matthias Boege, member of the board of Deutsche EuroShop AG, said. “The increased free float will lead to a higher liquidity of our share and a higher weighting factor in the indices. We are optimistic to get the admission to the German small cap index SDAX within the next months, in which Deutsche EuroShop would be one of the bigger sized companies.”

The current shareholder structure of Deutsche EuroShop AG looks like this:

Deutsche Bank AG (DB Industrial Holdings AG)                  23.20%
Otto family (Hamburg)                                                          21.23%
Free Float                                                                             55.57%

The current market capitalization of Deutsche EuroShop AG is approx. € 516 million at a share price of € 33.00 and with 15.625 million shares outstanding