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November 10, 2004

Accenture and Deutsche Börse to Help Shanghai Stock Exchange Build 'New Generation' Trading System

SHANGHAI, China; Nov. 10, 2004 – Accenture (NYSE: ACN) and Deutsche Börse (ISIN: DE0005810055) have been selected to help the Shanghai Stock Exchange build a new electronic trading system. Under the agreement, the Shanghai Stock Exchange, China’s largest exchange, has licensed Deutsche Börse’s Xetra trading system, which Accenture will adapt and implement for the Chinese market.

The system will enhance the exchange’s ability to offer additional products and services to investors and institutions and will enable the exchange to more efficiently scale its operations to meet growing market demand in China.

"To serve the needs of our members and investors, we require a new trading system built upon proven technology," said Geng Liang, Chairman of Shanghai Stock Exchange. "By leveraging Accenture’s and Deutsche Börse’s long experience in building and maintaining markets infrastructure, we are investing in the Shanghai Stock Exchange’s future and the role it will play in the Asian and international financial markets."

The Shanghai Stock Exchange serves a broad range of constituents by providing the marketplace and facilities for securities trading, arranging new listings, regulating members, and disseminating market information. The new technology platform will enable the exchange to rapidly introduce new services by providing a more flexible market structure to accommodate new market participants and support the trading of financial products.

"The Shanghai Stock Exchange is committed to fully leveraging its assets to enhance the value it provides to institutions and investors," said Robert P. Gach, managing partner for Accenture’s Financial Services in the Asia Pacific region. "The new platform will accelerate the introduction of sophisticated instruments and services that can generate greater returns on investment and more control over financial risk."

"Our Chinese partner’s decision reinforces Xetra as the benchmark system for equities trading," said Werner G. Seifert, CEO of Deutsche Börse. "The agreement, which is the most significant in Asia in the last several years, forms the basis for a far-reaching technology partnership. Deutsche Börse is well positioned to be the technological transfer agent that brings China and Europe even closer together."

Accenture was selected for the project based on its track record in Asia, depth of experience with large-scale capital markets infrastructure projects and global presence. Accenture’s worldwide capital markets clients include three of the five largest exchanges, four of the five largest global custodians, 17 of the top 20 securities firms and 80 of the top 100 asset managers. It has had a presence in greater China since 1993 and has more than 1,600 professionals based there.

Deutsche Börse’s Xetra trading technology was chosen based on its performance record of high scalability, reliability and speed, quality of core technology and ease of adaptability in other markets. The system has an average uptime of 99.996 percent. More than 300 trading firms in 18 countries connect to Deutsche Börse’s Xetra Network.

About Accenture
Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills and technologies to help clients improve their performance. With more than 100,000 people in 48 countries, the company generated net revenues of US$13.67 billion for the fiscal year ended Aug. 31, 2004. Its home page is www.accenture.com.

About Deutsche Börse
Deutsche Börse (ISIN: DE0005810055) is the world’s largest exchange and exchange technology organization. The portfolio ranges from trading, clearing and settlement to capital market information to technology solutions. The company organizes and operates equities, derivatives, fixed-income securities and commodities markets in cash and derivatives trading on exchange-based as well as over the counter platforms. Deutsche Börse operates the world’s largest exchange network connecting trading firms in 20 countries via telecommunications hubs to its trading platforms. The exchange maintains hubs in 10 cities worldwide. Deutsche Börse’s home page is www.deutsche-boerse.com.

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