The Central Europe, Russia and Turkey Fund, Inc. and The European Equity Fund, Inc. Announce Results of Each Fund’s Annual Meeting of Stockholders

The Central Europe, Russia and Turkey Fund, Inc. (NYSE:CEE) and The European Equity Fund, Inc. (NYSE:EEA) announced today the results of their Annual Meetings of Stockholders held on June 26, 2015, and The New Germany Fund, Inc. (NYSE:GF) announced today the adjournment of its Annual Meeting of Stockholders to July 10, 2015.

With respect to CEE, each of the three Class III Directors nominated by the Board of Directors, Dr. Franz Wilhelm Hopp, Mr. Christian H. Strenger and Mr. Joachim Wagner, was elected to serve for a term of three years and until his respective successor is elected and qualifies, and one Class II Director nominated by the Board of Directors, Mr. Walter C. Dostmann, was elected to serve a term of two years and until his successor is elected and qualifies.

With respect to EEA, each of the three Class I Directors nominated by the Board of Directors, Dr. Wilhelm Bender, Mr. Detlef Bierbaum and Mr. Walter C. Dostmann, was elected to serve for a term of three years and until his respective successor is elected and qualifies. Stockholders also approved the stockholder proposal requesting EEA to take the steps necessary to declassify the Board of Directors of EEA.

With respect to GF, the nominees for the Fund had not all received sufficient votes to be elected. Therefore the meeting was adjourned to Friday, July 10, 2015 at 2:00 p.m. at the offices of Deutsche Investment Management Americas, Inc., 345 Park Avenue, New York, NY in order to allow more time to solicit proxies.

Stockholders also ratified the appointment of PricewaterhouseCoopers LLP as the independent auditors for EEA and CEE for its respective 2015 fiscal year.

A copy of the portfolio manager’s presentation from the meeting is posted to the Funds’ website at www.dws-investments.com.

For more information on each Fund, including the most recent month-end performance, visitdeutschefunds.com or call (800) 349-4281 or 00-800-2287-2750 from outside the U.S.

Important Information

The Central Europe, Russia and Turkey Fund, Inc. is a non-diversified, closed-end investment company seeking long term capital appreciation through investment primarily in equity or equity-linked securities of issuers domiciled in Central Europe, Russia and Turkey. Because the Fund is non-diversified, it can take larger positions in fewer issues, increasing its potential risk. Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Any fund that focuses in a particular segment of the market will generally be more volatile than a fund that invests more broadly.

The European Equity Fund, Inc. is a diversified, closed-end investment company seeking long-term capital appreciation through investment primarily in equity or equity-linked securities of companies domiciled in countries that are members of the European Union.

The New Germany Fund, Inc. is a diversified, closed-end investment company seeking capital appreciation primarily through investment in equity or equity-linked securities of small and mid-cap German companies.The Fund may invest up to 35% of its assets in large-cap German companies and up to 20% in other Western European companies.

The shares of most closed-end funds, including the Funds, are not continuously offered. Once issued, shares of closed-end funds are bought and sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of a fund’s shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, a fund cannot predict whether its shares will trade at, below or above net asset value. There can be no assurance that the Funds’ discount management program will be effective in reducing the Funds’ market discounts.

Investments in funds involve risk. Additional risks of the Funds are associated with international investing, such as currency fluctuations, political and economic changes, market risk, government regulations and differences in liquidity, which may increase the volatility of your investment. Foreign security markets generally exhibit greater price volatility and are less liquid than the U.S. market. Additionally, each of the Funds focuses its investments in certain geographic regions, thereby increasing its vulnerability to developments in those regions and potentially subjecting the Fund’s shares to greater price volatility. Some funds have more risk than others. These include funds, such as the Funds, that allow exposure to or otherwise concentrate investments in certain sectors, geographic regions, security types, market capitalization or foreign securities (e.g., political or economic instability, which can be accentuated in emerging market countries).

The European Union, the United States and other countries have imposed sanctions on Russia as a result of the Russian military intervention in the Ukraine. These sanctions have adversely affected Russian individuals, issuers and the Russian economy, and Russia, in turn, has imposed sanctions targeting Western individuals, businesses and products, including food products. The various sanctions have adversely affected, and may continue to adversely affect, not only the Russian economy, but also the economies of many countries in Europe, including Germany. Potential developments in the Ukraine, and the continuation of current sanctions or the imposition of additional sanctions may materially adversely affect the value or liquidity of the Fund’s portfolio.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Deutsche Asset & Wealth Management represents the asset management and wealth management activities conducted by Deutsche Bank AG or any of its subsidiaries. Clients will be provided Deutsche Asset & Wealth Management products or services by one or more legal entities that will be identified to clients pursuant to the contracts, agreements, offering materials or other documentation relevant to such products or services. (R-31932-36/15)

View source version on businesswire.com: http://www.businesswire.com/news/home/20150626005743/en/