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NEW YORK--([ BUSINESS WIRE ])--The Central Europe and Russia Fund, Inc. (NYSE: CEE) and The New Germany Fund, Inc. (NYSE: GF) (each a aFunda and, collectively, the aFundsa) announced the replay of a WebEx conference originally held on October 27, 2011 to discuss developments in the market and the outlook for the Funds. Mr. Rainer Vermehren, lead portfolio manager, was featured on the WebEx conference.

The replay will be available until December 31, 2011. In addition, the audio replay and presentation will be available on [ www.dws-investments.com ].

For more information on the Funds visit [ www.dws-investments.com ] or call (800) 349-4281 or 00-800-2287-2750 from outside the US.

IMPORTANT INFORMATION

The Central Europe and Russia Fund, Inc. is a non-diversified, closed-end investment company seeking long term capital appreciation through investment primarily in equity and equity-linked securities of issuers domiciled in Central Europe and Russia. This fund is non-diversified and can take larger positions in fewerissues, 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. Anyfund that focuses in a particular segment of the market will generally be more volatile than a fund that invests broadly.

The New Germany Fund, Inc. is a diversified, closed-end investment company seeking capital appreciationprimarily through investment in the Mittelstand a" an important group 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. 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.

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 bought and sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to the net asset value. The price of a fundas shares isdetermined by a number of factors, several of which are beyond the control of the fund. Therefore, a fundcannot predict whether its shares will trade at, below or above net asset value.

Investments in funds involve risk. Additional risks are associated with international investing, such asgovernment 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, this fund focuses its investments in certain geographical regions, thereby increasing itsvulnerability to developments in that region and potentially subjecting the fundas shares to greater pricevolatility. Some funds have more risk than others. These include funds that allow exposure to or otherwiseconcentrate 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 ofthese 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 may be 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 aexpect,a aanticipate,a abelieve,a 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. Management does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

The following factors, among others, could cause actual results to differ materially from forward-looking statements: (i) the need to obtain any necessary regulatory approvals; (ii) the effects of changes in market and economic conditions; (iii) other legal and regulatory developments; and (iv) other additional risks and uncertainties.

DWS Investments is part of Deutsche Bankas 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-024831-2 11/11)