Climate Exchange Plc and Deutsche Bank To Launch Trading in Catastrophe Event-Linked Futures on the Chicago Climate Futures Exchange

NEW YORK & LONDON, September 12, 2007 - Insurance Futures Exchange Services Ltd (IFEX), a member of the Climate Exchange Plc group of companies, and Deutsche Bank AG today announced the planned launch of trading in catastrophe event-linked futures (“ELF”) on the Chicago Climate Futures Exchange (CCFE) later this month, pending CCFE's self-certification of the futures product with the U.S. Commodities Trading Commission.

ELF contracts are standardized exchange-traded futures derivatives contracts, also know as “contracts for difference”, providing a binary payment based on natural catastrophe events which result in industry-wide insured losses, similar to the Industry Loss Warranty (ILW) features found in some insurance agreements. ELF contracts will offer investors the ability to trade natural catastrophe loss risk outside the framework of conventional insurance and reinsurance contracts, as well as provide hedging contracting capability for property/catastrophe insurance-linked exposure.

“Deutsche Bank has been a market leader in developing a liquid trading regime for exposures linked to property and casualty insurance though its over-the-counter Event Loss Swap contracts,” said Elad Shraga, Managing Director in Deutsche Bank's Global Principal Finance group. “Deutsche Bank is excited to work with visionaries of the caliber of Richard Sandor and Climate Exchange, and continue the evolution of trading opportunities for this asset class.”

Richard Sandor, Chairman of Climate Exchange Plc, said: “We are delighted to announce the launch of IFEX and our joint venture with Deutsche Bank which will ensure the continuing convergence of insurance and capital markets.”

For further information, please call:

Chicago Climate Exchange Inc
Richard Sandor
Chairman & Chief Executive Officer
+1 312-554-3370

Climate Exchange Plc
Neil Eckert
Chief Executive Officer
+44 (0) 207-382-7801

Deutsche Bank
Michele Allison
Press & Media Relations
+1 212-250-4864

Haggie Financial
David Haggie/Peter Rigby
+ 44 (0) 207-417-8989

Climate Exchange Plc is a holding company whose subsidiaries are principally engaged in owning, operating and developing exchanges to facilitate trading in environmental financial instruments including emissions reduction credits in both voluntary and mandatory markets. The two main businesses are the Chicago Climate Exchange (CCX) which operates a voluntary but legally binding cap and trade system including an exchange for CO2 emissions as well as SOx and NOx contracts in the US and internationally, and the European Climate Exchange (ECX) which operates an exchange focussed on compliance certificates for the mandatory European Emissions Trading Scheme.

http://climateexchange.com

About Chicago Climate Exchange, Inc.

CCX is a financial institution whose objectives are to apply financial innovation and incentives to advance social, environmental and economic goals. CCX is the world's first and North America's only legally binding rules-based greenhouse gas emissions allowance trading system, as well as the world's only global system for emissions trading based on all six greenhouse gases. CCX members are leaders in greenhouse gas management and represent all sectors of the global economy, as well as public sector innovators. Reductions achieved through CCX are the only reductions in North America being achieved through a legally binding compliance regime, providing independent third party verification provided by NASD and price transparency. The founder, Chairman and CEO of CCX is economist and financial innovator Dr. Richard L. Sandor, who was named a Hero of the Planet by Time magazine for his founding of CCX. For a full list of CCX members, daily prices and other Exchange information, see http://www.chicagoclimateexchange.com.

CCX, a US corporation, launched its trading platform in 2003. In 2005, CCX launched the European Climate Exchange (ECX), now the leading exchange operating in the European Union Emissions Trading Scheme. CCX also launched the Chicago Climate Futures Exchange (CCFE), a CFTC-regulated futures exchange for U.S. SO2 allowances and U.S. NOx Ozone Season allowances, the world's first environmental derivatives exchange. Since 2006, CCX, ECX and CCFE have been owned by Climate Exchange Plc, a publicly traded company listed on the AIM of the London Stock Exchange.

About European Climate Exchange

The European Climate Exchange (ECX) manages product development and marketing of Carbon Financial Instruments (CFI) futures and options contracts on CO2 EU allowances traded under the EU Emissions Trading Scheme.

ECX CFI contracts are listed and traded on the ICE Futures electronic platform, offering a central marketplace for emissions trading in Europe with standard contracts and clearing guarantees provided by LCH.Clearnet. ECX/ ICE Futures is the most liquid, pan-European Exchange for carbon emissions trading. More than 80 leading global businesses have signed up for membership to trade ECX products. In addition, several hundred clients can access the market via banks and brokers.

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 75,140 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank Securities Inc., member NYSE, NASD and SIPC, is the investment banking and securities arm of Deutsche Bank AG in the United States.

http://www.db.com