The New Germany Fund, The European Equity Fund and The Central
Europe and Russia Fund Announce Annual Stockholders Meetings
Germany Funds


New York, May 5, 2008 -- The New Germany Fund, Inc., The European Equity Fund, Inc. and The Central Europe and Russia Fund, Inc. announced today that their combined annual meetings of stockholders will be held at 10:00 a.m. EST on June 20, 2008 at the New York Marriott East Side Hotel, 525 Lexington Avenue, the Fountain Room, New York, New York 10017.

Only holders of record of Common Stock of the New Germany Fund, European Equity Fund or Central Europe and Russia Fund at the close of business on May 16, 2008 will be entitled to notice of, and to vote at, the annual meeting of stockholders of the Fund.
The Funds are managed and advised by members of the Deutsche Bank Group.

The New Germany Fund, Inc. is a 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 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. Its shares are listed on the New York Stock Exchange under the symbol "EEA".

The Central Europe and Russia Fund, Inc. is a non-diversified, closed-end investment company seeking capital appreciation primarily through investment in Central European and Russian equities. Its shares are listed on the New York Stock Exchange under the symbol "CEE".

The European Equity Fund, Inc. and The Central Europe and Russia Fund, Inc. are non-diversified and can take larger positions in fewer companies, increasing their overall risk profile.

Investments in funds involve risks. Additional risks 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, this 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.


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