N@N

NEW YORK--([ BUSINESS WIRE ])--The European Equity Fund, Inc. (NYSE: EEA) announced today that its Board of Directors declared a total distribution of $0.135 per share, representing ordinary income. The distribution is payable on June 22, 2012 to stockholders of record on May 21, 2012 with an ex-date of May 17, 2012. The total distributions will be paid in stock except that any stockholder of record as of May 21, 2012 may elect to receive such distribution in cash. Such election must be made by June 18, 2012. This press release corrects and supersedes a prior communication on this subject that referenced a dividend record date of May 18, 2012 and a corresponding ex-date of May 16, 2012.

The European Equity Fund, Inc. is a diversified, closed-end investment company seeking long-term capital appreciation through investment primarily (normally at least 80% of its assets) in equity and equity-linked securities of companies domiciled in European countries utilizing the Euro currency.

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 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.

Past performance is no guarantee of future results.

Investing in foreign securities 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.

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.

NOT FDIC/ NCUA INSURED a MAY LOSE VALUE a NO BANK GUARANTEE
NOT A DEPOSIT a NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

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-027391-1 4/12)