Germany Funds
New York, June 05, 2006 -- The New Germany Fund, Inc. (GF) today announced that its Board has authorized a cash tender offer to occur if the discount from average daily net asset value of the volume-weighted average daily market price of Fund shares is greater than 10% for the six-month period July 1, 2006 through December 31, 2006. The tender offer would be for up to 10% of the Fund's outstanding shares at a price of 95% of net asset value per share, and would be commenced within 60 days after the end of the six-month measurement period.
The New Germany Fund, Inc. is a non-diversified, closed-end investment company seeking capital appreciation primarily through investment in the Mittelstand - 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. Its shares are listed on the New York Stock Exchange under the symbol "GF". The Fund is managed and advised by members of the Deutsche Bank Group.
The Fund is non-diversified and can take larger positions in fewer companies, increasing its overall risk profile. Investments in securities of foreign issuers present greater risks including currency fluctuations and changes in political/economic conditions. Foreign securities markets generally exhibit greater price volatility and less liquid than the US markets.
If you would like more information on Germany Funds or Closed-End Funds.
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