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DWS High Income Trust (KHI) Announces Proposal for Consideration at Annual Meeting

^{Published on 2009-01-26 15:03:48, Last Modified on 2009-01-26 15:04:48 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Board of Trustees of DWS High Income Trust (NYSE: KHI) (the "Fund") announced today that a proposal to convert the Fund from a closed-end investment company to an open-end investment company will be presented at next annual meeting of shareholders of the Fund. The next annual meeting is expected to be held in May 2009. The Fund's Agreement and Declaration of Trust requires the submission of such a proposal to shareholders if the average discount of its share price to net asset value exceeds 10% based on the last trading day in each week during the 12 calendar weeks preceding the beginning of each year. The requirement has been triggered for the year ending December 31, 2008. The Board of Trustees of the Fund is reviewing this matter and intends to provide a recommendation to shareholders.

For more information on KHI, please contact a representative at (800) 349-4281 or visit us on the web at [ www.dws-investments.com ] for updated information on the Fund.

The fund seeks to provide the highest current income obtainable, consistent with reasonable risk, with capital gains secondary. The fund invests in individual bonds whose yields and market values fluctuate, so that your investment may be worth more or less than its original cost. The fund may invest in lower-quality and nonrated securities, which present greater risk of loss of principal and interest than higher-quality securities. Bond investments are subject to interest rate risk such that when interest rates rise, the prices of the bonds, and thus the value of the bond fund, can decline and the investor can lose principal value.

IMPORTANT INFORMATION

Shares of closed-end funds, unlike open-end funds, typically 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.

Past performance is no guarantee of future results. Investments in funds involve risk. Some funds have more risk than others. These include 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).

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. Fund shares are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Fund shares involve investment risk, including possible loss of principal.

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-9647-1 1/09)