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DWS Dreman Value Income Edge Fund, Inc. Continues Share Repurchase Program

^{Published on 2008-11-24 16:14:09 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The DWS Dreman Value Income Edge Fund, Inc. (the "Fund") (NYSE:DHG) announced today that the Fund's Board of Directors has authorized the continuation of the open-market stock repurchase program. Effective upon notice to Fund shareholders, the Fund may purchase, at management's discretion, an aggregate of up to 5% of the Fund's outstanding common shares in open-market transactions over a twelve month period beginning December 1, 2008 through November 30, 2009. Notice of the repurchase program will be available in the Fund's annual report. Deutsche Investment Management Americas Inc. ("DIMA"), the Fund's investment advisor, will seek to retire discounted shares in a manner that should be accretive to the Fund's net asset value ("NAV").

The DWS Dreman Value Income Edge Fund, Inc. (NYSE:DHG) is a non-diversified, closed-end investment company. The Fund's investment objective is to seek to achieve a high level of total return. The Fund pursues its investment objective through a combination of an income strategy designed to generate regular income and reduce volatility (the "Income Strategy"), and a quantitative long/short strategy designed to seek returns that are uncorrelated to the market (the "Hedge Strategy"). There is no assurance the Fund will achieve its objective. Its shares are listed on the New York Stock Exchange under the symbol "DHG".

Closed-end funds, unlike open-end funds, are not continuously offered. There is a one time public offering and once issued, shares of closed-end funds are 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 the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below, or above net asset value.

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.

Certain statements contained in this release are forward-looking in nature. These include all statements relating to plans, expectations, and other statements that are not historical facts and typically use words like "expect," "anticipate," "believe," and similar expressions. Such statements represent management's current beliefs, based upon information available at the time the statements are made, with regard to the matters addressed. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. The Fund and Fund management do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

DWS Investments is part of Deutsche Bank's Asset Management division and, within the US, represents the retail asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Investment Management Americas Inc. and DWS Trust Company. (R-8059-2 10/08)