Germany Funds
| New York, December 16, 2005 -- The European Equity Fund, Inc. (formerly The Germany Fund, Inc.) (EEA) announced today that, in accordance with its tender offer for up to 20% of its issued and outstanding shares of common stock, which expired on December 12, 2005, the Fund has accepted, after adjusting for fractional shares in accordance with the terms of the offer, 2,957,998 properly tendered shares at a price equal to 95% of the net asset value on the next business day after the offer expired. Approximately 5,131,190 shares of common stock, or approximately 35% of the Fund's commons stock outstanding, were tendered through the stated expiration date. Under the final pro-ration calculation, 57.5619 % of the non-odd lot shares were tendered and accepted for payments. The shares accepted for tender will receive cash at a repurchase offer price of $ 9.345, which is equal to 95% of the Fund's net asset value on December 13, 2005. Cash payment for the repurchased shares will be issued no later than December 19, 2005.
The European Equity Fund, Inc. (formerly The Germany Fund, Inc.) seeks long-term capital appreciation through investment primarily (normally at least 80% of its assets) in equity and equity-linked securities of companies domiciled in countries utilizing the Euro currency. Effective October 31, 2005, its shares trade on the NYSE under ticker symbol "EEA". |
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