The Central and Eastern Europe Fund, Inc. and The New Germany Fund, Inc. Announce Results of Each Fund’s Annual Meeting of Stockholders

The Central and Eastern Europe Fund, Inc. (NYSE: CEE) and The New Germany Fund, Inc. (NYSE: GF) (each, a “Fund,” and, collectively, the “Funds”) announced today the results of their Joint Annual Meetings of Stockholders held on June 24, 2021.

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

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

Stockholders also ratified the appointment of Ernst & Young LLP as the independent auditors for GF and CEE for each Fund’s respective 2021 fiscal year.

For more information on the Funds, including their most recent month-end performance, visit dws.com or call [phone].

Important Information

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 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.

Investing in foreign securities, particularly 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 or a particular geographical region will generally be more volatile than a fund that invests more broadly.

Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Emerging markets tend to be more volatile and less liquid than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Any fund that concentrates in a particular segment of the market or a particular geographical region will generally be more volatile than a fund that invests more broadly.