Market Overview

The Central and Eastern Europe Fund, Inc., The European Equity Fund, Inc., and The New Germany Fund, Inc. Announce Results of Annual Meetings of Stockholders

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The Central and Eastern Europe Fund, Inc. (NYSE:CEE), The European
Equity Fund, Inc. (NYSE:EEA), and The New Germany Fund, Inc. (NYSE:GF)
(each, a "Fund," and, collectively, the "Funds")
announced today the
results of their Joint Annual Meeting of Stockholders held on June 22,
2018.

With respect to CEE, each of the two Class III Directors nominated by
the Board of Directors, Dr. Wolfgang Leoni and Mr. Christian H.
Strenger, was elected to serve for a term of three years and until his
respective successor is elected and qualifies.

With respect to EEA, each of the two Class I Directors nominated by the
Board of Directors, Dr. Wilhelm Bender and Mr. Walter C. Dostmann, was
elected to serve for a term of three years and until his successor is
elected and qualifies.

With respect to GF, each of the two Class III Directors nominated by the
Board of Directors, Ambassador Richard R. Burt and Dr. Wolfgang Leoni,
was elected to serve for a term of three years and until his respective
successor is elected and qualifies.

Stockholders also ratified the appointment of PricewaterhouseCoopers LLP
as the independent auditors for each Fund.

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

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

Important Information

The Central and Eastern Europe Fund, Inc. This fund is
non-diversified and can take larger positions in fewer issues,
increasing its potential risk. Investing in foreign securities 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 or region of the world will generally be more volatile
than a fund that invests more broadly.

The European Equity Fund, Inc. and The New Germany Fund, Inc.
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 concentrates in
a particular segment of the market will generally be more volatile than
a fund that invests more broadly.

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.

Investments in funds involve risk. Additional risks of the Funds are
associated with international investing, such as currency fluctuations,
political and economic changes, market risks, 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 US market.
Additionally,
the Funds focus their investments in certain geographical regions,
thereby increasing their vulnerability to developments in that region
and potentially subjecting the Funds' 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 in response to Russian military and other
actions in recent years.
These sanctions have adversely affected
Russian individuals, issuers and the Russian economy.
Russia, in
turn, has imposed sanctions targeting Western individuals, businesses
and 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 countries in
Central and Eastern Europe.
The continuation of current sanctions
or the imposition of additional sanctions may materially adversely
affect the value of the Funds' portfolios.

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.

Past performance is no guarantee of future results.

Nothing contained herein is fiduciary or impartial investment advice
that is individualized or directed to any plan, plan participant, or IRA
owner regarding the advisability of any investment transaction,
including any IRA distribution or rollover.

On or about 7/2/2018, Deutsche funds will change their name to DWS
funds and Deutsche Investment Management Americas Inc. will become DWS
Investment Management Americas, Inc.

     
 

NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

 

NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

 
 

DWS Distributors, Inc.

 
222 South Riverside Plaza
Chicago, IL 60606-5808

www.dws.com

Tel (800) 621-1148
© 2018 DWS Group GmbH & Co. KGaA. All rights reserved    

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its
subsidiaries such as DWS Distributors, Inc. which offers investment
products or Deutsche Investment Management Americas Inc. and RREEF
America L.L.C. which offer advisory services. (R-058521-1) (06/18)

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