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EXHIBIT 99.1
PRESS RELEASE DEUTSCHE BANK
CONTACTS: For Deutsche Bank AG: For National Discount Brokers
Group, Inc.:
Rohini Pragasam Richard Tauberman
Deutsche Bank The MWW Group
212-469-4516 201-964-2408
[email protected] [email protected]
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DEUTSCHE BANK COMPLETES TENDER OFFER FOR
NATIONAL DISCOUNT BROKERS GROUP
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November 22, 2000 -- Deutsche Bank AG today announced the successful completion
of the tender offer by its wholly owned subsidiary Deutsche Acquisition Corp. to
acquire the common stock of National Discount Brokers Group, Inc. (NYSE: NDB) at
$49.00 net per share in cash.
Approximately 16.8 million shares of NDB, or approximately 80% of the issued and
outstanding NDB shares, were validly tendered prior to the expiration of the
tender offer at 12:00 midnight, New York City time, on Tuesday, November 21,
2000, and were accepted for payment. Together with the NDB shares Deutsche Bank
already held, Deutsche Bank now owns approximately 96% of the NDB shares
outstanding.
Pursuant to the terms of Deutsche Bank's merger agreement with NDB, Deutsche
Bank will acquire the remaining NDB shares through a merger of Deutsche
Acquisition Corp. into NDB at the same $49.00 per share price as offered in the
tender offer. Deutsche Bank expects to complete the merger within the next week
to ten days.
