Company Website: https://www.dws-investments.com/EN/#/9513/
NEW YORK -- (Business Wire)

The Central Europe and Russia Fund, Inc. (NYSE: CEE) (the “Fund” or “CEE”) announced today the results of the Fund’s Special Meeting of Stockholders held on April 19, 2013. Stockholders approved the proposed change to the Fund’s investment objective from “seeking long-term capital appreciation through investment primarily in equity and equity-linked securities of issuers domiciled in Central Europe and Russia” to “seeking long-term capital appreciation through investment primarily in equity or equity-linked securities of issuers domiciled in Central Europe, Russia and Turkey”. Stockholders also approved a change in the Fund’s corresponding fundamental investment policy to provide that, “under normal circumstances, the Fund will invest at least 80% of its net assets (plus borrowings used for investment purposes) in securities of issuers domiciled in Central Europe, Russia and Turkey.” Consequently, the Fund is now able to invest in securities of issuers domiciled in Turkey to a greater extent than previously.

Effective as of the close of business on April 26, 2013, the Fund’s name will be changed to “The Central Europe, Russia and Turkey Fund, Inc.” There will be no changes to the Fund’s ticker symbol on the New York Stock Exchange or the CUSIP number for its shares. No action is required by stockholders relating to this change.

For more information on the Fund, including the most recent month-end performance, 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 or equity-linked securities of issuers domiciled in Central Europe, Russia and Turkey.The Fund is non-diversified and can take larger positions in fewer issues, 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.Any fund that focuses in a particular segment of the market will generally be more volatile than a fund that invests more broadly.

The shares of most closed-end funds, including the Fund, are not continuously offered. Once issued, shares of closed-end funds are bought and sold in the secondary market.Shares of closed-end funds frequently trade at a discount to NAV.The price of such 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 NAV.Investments in funds involve risk. Additional risks of the Fund are associated with international investing, such as government 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, the Fund focuses its investments in certain geographical regions, thereby increasing its vulnerability to developments in that region and potentially subjecting the Fund’s shares to greater price volatility.Some funds have more risk than others.These include funds, such as CEE, 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.

Certain statements contained in this release may be forward-looking in nature.These include all statements relating to plans, expectations, and otherstatements that are not historical facts and typically use words like “expect,”“anticipate,” “believe,” “intend,” and similar expressions.Such statementsrepresent management’s current beliefs, based upon information available at thetime the statements are made, with regard to the matters addressed.Allforward-looking statements are subject to risks and uncertainties that couldcause actual results to differ materially from those expressed in, or impliedby, such statements.Management does not undertake any obligation to update orrevise any forward-looking statements, whether as a result of new information,future events, or otherwise.

NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

DWS Investments is part of Deutsche Bank’s Asset & Wealth 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-031332-1 4/13)

Contacts:

Deutsche Bank Press Office, 212-250-6853
Shareholder Account Information, 800-294-4366
DWS Closed-End Funds, 800-349-4281 or 00-800-2287-2750 from outside the US

Source: The Central Europe and Russia Fund, Inc.